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What's in Store for Edison International's (EIX) Q3 Earnings?

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Edison International (EIX - Free Report) is scheduled to report third-quarter 2021 results on Nov 2, after the closing bell.

In the last reported quarter, the company delivered a negative earnings surprise of 5.05%. Edison International has a trailing four-quarter earnings surprise of 2.91%, on average.

Factors to Note

During most part of the third quarter, the company’s service territories witnessed warmer than normal temperatures. This is likely to have boosted electricity demand for cooling purposes among the company’s customers. This, in turn, must have favorably contributed to the to-be-reported quarter's top-line performance.

The Zacks Consensus Estimate for third-quarter revenues is pegged at $4.77 billion, suggesting growth of 2.8% from the year-ago quarter.

Some parts of Edison International’s service territories saw some wildfire events in the third quarter. This is likely to have pushed the company’s wildfire mitigation expenses. This might have weighed onits third-quarter bottomline.

Meanwhile, favorable contributions from FERC-related and CPUC-related revenues are likely to have contributed to the to-be-reported quarter’s performance.

The Zacks Consensus Estimate for third-quarter earningsis pegged at $1.74 per share, indicating an improvement of 4.2% from the prior-year reported figure.

Edison International Price and EPS Surprise

Edison International Price and EPS Surprise

Edison International price-eps-surprise | Edison International Quote

What the Zacks Model Unveils

Our proven model predicts an earnings beat for Edison International this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is the case here as you will see.

Earnings ESP:The company’s Earnings ESP is +1.49%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Edison International currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Here are three other Utilities players you may want to consider, as these too have the right combination of elements to post an earnings beat this season:

AES Corporation(AES - Free Report) has an Earnings ESP of +3.53% and a Zacks Rank #3.

Pinnacle West Capital Corporation (PNW - Free Report) has an Earnings ESP of +0.30% and a Zacks Rank #3.

TransAltaCorporation (TAC - Free Report) has an Earnings ESP of +12.50% and a Zacks Rank #3.