10-K · February 18, 2026
Edison International reported a sizable year-over-year earnings increase in 2025 driven largely by SCE settlement-related non-core items, while core earnings and regulated rate base also grew. Management emphasizes a…
Earnings analysis · 10-Q
EIX earnings analysis
Filed April 28, 2026 · Our reading of the company's report
The latest report
Edison International reported first-quarter 2026 operating revenue of $4,103 million and diluted GAAP EPS of $1.37, both modestly above consensus. Management reiterated 2026 core EPS guidance of $5.90–$6.20 and noted a…
Read full summary
Edison International reported first-quarter 2026 operating revenue of $4,103 million and diluted GAAP EPS of $1.37, both modestly above consensus. Management reiterated 2026 core EPS guidance of $5.90–$6.20 and noted a $15 million (approximately $0.04 per share) of non-core items in Q1. The quarter shows a year-over-year revenue increase but material declines versus the prior quarter and continued wildfire-related volatility and interest-rate related financing items.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.37
What stood out
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Revenue modest beat vs. consensus
Reported operating revenue was $4,103 million for Q1 2026, slightly ahead of consensus revenue $4,099.03 million (per the filing).
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GAAP/diluted EPS beat estimates
GAAP EPS was $1.38 (diluted $1.37) for Q1 2026, above the consensus EPS estimate of $1.31 (all figures per the filing).
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Core EPS improved vs. prior year
Core EPS for Q1 2026 was $1.42 compared with $1.37 in Q1 2025 (an increase of $0.05), as reported in the filing.
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2026 core EPS guidance reaffirmed
Management affirmed 2026 core EPS guidance of $5.90–$6.20 (per the filing).
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Non-core items disclosed
The company recorded $15 million of non‑core items in Q1 2026, equal to approximately $0.04 per share (per the filing).
What to watch
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Quarterly volatility vs. prior quarter
Revenue of $4,103 million in Q1 2026 declined materially versus Q4 2025 revenue of $5,210 million (a decrease of $1,107 million), indicating quarter-to-quarter volatility (comparative figures as reported in the filing).
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Wildfire-related recoveries and non-core swings
The filing shows non-core items of $15 million in Q1 2026 (approximately $0.04 per share), underscoring swing risk from wildfire-related items recorded in the period.
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Interest / debt profile referenced
The filing discloses outstanding debt instruments (example: senior notes at 6.25% due 2030) and a term loan due March 2027, highlighting exposure to higher interest costs (rates and maturities stated in the filing).
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Guidance sensitive to non-core adjustments
The filing notes the company's 2026 basic EPS line effectively reflects a $0.04 deduction for non-core items (management shows core EPS guidance $5.90–$6.20 and an adjusted basic EPS line of $5.86–$6.16 after a $0.04 non-core adjustment).
Management's outlook
Management affirmed 2026 core EPS guidance of $5.90–$6.20. The filing also shows a $0.04 per share of non-core items reflected (yielding an adjusted basic EPS line of $5.86–$6.16 after the $0.04 deduction). No quantitative revenue guidance provided in the 10-Q.
Earlier filings 4
10-Q · October 28, 2025
Edison International reported a stronger Q3 driven by SCE: consolidated net income available increased to $832 million (Q3 2025) from $516 million in Q3 2024, driven by SCE core earnings increasing $327 million…
10-Q · July 31, 2025
Edison International reported mixed Q2 results: consolidated/SCE operating revenue rose to $4,532 million (up $208 million vs. Q2 2024) but operating income fell to $794 million (down $122 million), driving Edison…
10-Q · April 29, 2025
Edison International reported consolidated revenue of $3,811.0 million and GAAP EPS of $1.37 for Q1 2025, beating the EPS consensus of $1.19 but missing revenue. The quarter's earnings improvement was driven largely by…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.