The following is a summary of the Edison International (EIX) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Edison International reported a core EPS of $1.23 for Q2 2024, with a year-to-date core EPS of $2.37.

• The company reaffirmed its 2024 core EPS guidance of $4.75 to $5.05.

• Achieved EPS growth primarily due to higher CPUC revenue authorized in Track 4 of the 2021 GRC and higher rates of return with the final decision on SCE's CEMA application.

Business Progress:

• Edison is witnessing significant load growth trends, expecting a 35% higher 10-year load growth, mainly due to increased demand from commercial developments and transportation electrification.

• SCE has implemented rate reductions and projects a further reduction in system average rate by 9% following the 2025 GRC final decision.

• SCE's wildfire mitigation efforts have significantly improved operational and financial risk profiles, achieving an 85% to 88% wildfire risk reduction.

Opportunities:

• Edison sees significant investment opportunities in grid upgrades due to earlier and larger-than-anticipated load growth. These investments are essential for supporting the trend towards a carbon-neutral California and respond to increasing electrification demands.

• The continuing advancements and commitments towards sustainability are expected to bolster the company's leadership in clean energy.

Risks:

• The gradual growth from new load expansions and the heavy reliance on regulatory approvals for cost recoveries could pose financial and operational risks.

More details: Edison International IR

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