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Edison International Q2 Earnings Surpass Estimates, Revenues Miss
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Key Takeaways
Edison International's Q2 core earnings surged 58.8% to $1.54 per share, beating estimates by 51%.
Revenues fell 4.1% to $4.36 billion and missed the consensus estimate by 7.7%.
Edison International reaffirmed 2026 core earnings guidance of $5.90-$6.20 per share.
Edison International (EIX - Free Report) reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter, primarily reflecting Southern California Edison’s adoption of the 2025 General Rate Case final decision.
The company recorded GAAP earnings of $1.39 per share compared with 89 cents in the second quarter of 2025.
EIX’s Total Revenues
Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.
Edison International Price, Consensus and EPS Surprise
Total operating expenses declined to $3.27 billion from $3.77 billion. Operation and maintenance expenses fell to $1.07 billion from $1.58 billion, while purchased power and fuel costs decreased to $1.14 billion from $1.16 billion.
Depreciation and amortization increased to $834 million from $826 million. Property and other taxes rose to $171 million from $168 million.
Operating income climbed to $1.09 billion from $0.78 billion. Interest expense increased to $514 million from $504 million.
Segmental Results of EIX
Southern California Edison generated core earnings of $672 million, up from $474 million in the second quarter of 2025. Core earnings per share increased to $1.74 from $1.23, primarily due to the adoption of the 2025 General Rate Case final decision in the third quarter of 2025.
Edison International Parent and Other reported a core loss of $80 million, narrower than the year-ago loss of $100 million. The core loss per share improved to 20 cents from 26 cents, primarily due to lower preferred stock dividends.
Edison International’s Financial Update
As of June 30, 2026, Edison International's cash and cash equivalents amounted to $242 million compared with $158 million as of Dec. 31, 2025.
The long-term debt was $37.09 billion as of June 30, 2026, higher than the 2025-end level of $36.07 billion.
Net cash flow from operating activities during the first six months of 2026 was $2.7 billion compared with net cash flow of $2.11 billion in the prior-year period.
Total capital expenditures were $3.39 billion as of June 30, 2026, higher than $3.12 billion in the year-ago period.
EIX Reaffirms Its Earnings Outlook
Edison International reaffirmed its 2026 core earnings guidance of $5.90-$6.20 per share. The Zacks Consensus Estimate for earnings is currently pegged at $6.13 per share, which is at the higher end of the company’s guided range.
The company also maintained its 2027 core earnings forecast of $6.25-$6.65 per share and its 2028 outlook of $6.74-$7.14. Management continues to target core earnings growth of 5-7% annually from 2025 through 2030.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2026 adjusted earnings per share of 37 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 47.9% from 71 cents in the year-ago quarter.
Operating revenues totaled $1.83 billion, which missed the Zacks Consensus Estimate of $1.91 billion by 4.2%. The top line also fell 0.5% from $1.84 billion in the prior-year quarter.
Entergy Corporation (ETR - Free Report) reported second-quarter 2026 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 94 cents by 9.6%. However, the bottom line decreased 1.9% from the year-ago quarter’s figure of $1.05.
Revenues rose 5.9% year over year to $3.52 billion but missed the consensus mark of $3.53 billion by 0.08%.
PG&E Corporation (PCG - Free Report) reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.
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Edison International Q2 Earnings Surpass Estimates, Revenues Miss
Key Takeaways
Edison International (EIX - Free Report) reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter, primarily reflecting Southern California Edison’s adoption of the 2025 General Rate Case final decision.
The company recorded GAAP earnings of $1.39 per share compared with 89 cents in the second quarter of 2025.
EIX’s Total Revenues
Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.
Edison International Price, Consensus and EPS Surprise
Edison International price-consensus-eps-surprise-chart | Edison International Quote
EIX's Cost Profile
Total operating expenses declined to $3.27 billion from $3.77 billion. Operation and maintenance expenses fell to $1.07 billion from $1.58 billion, while purchased power and fuel costs decreased to $1.14 billion from $1.16 billion.
Depreciation and amortization increased to $834 million from $826 million. Property and other taxes rose to $171 million from $168 million.
Operating income climbed to $1.09 billion from $0.78 billion. Interest expense increased to $514 million from $504 million.
Segmental Results of EIX
Southern California Edison generated core earnings of $672 million, up from $474 million in the second quarter of 2025. Core earnings per share increased to $1.74 from $1.23, primarily due to the adoption of the 2025 General Rate Case final decision in the third quarter of 2025.
Edison International Parent and Other reported a core loss of $80 million, narrower than the year-ago loss of $100 million. The core loss per share improved to 20 cents from 26 cents, primarily due to lower preferred stock dividends.
Edison International’s Financial Update
As of June 30, 2026, Edison International's cash and cash equivalents amounted to $242 million compared with $158 million as of Dec. 31, 2025.
The long-term debt was $37.09 billion as of June 30, 2026, higher than the 2025-end level of $36.07 billion.
Net cash flow from operating activities during the first six months of 2026 was $2.7 billion compared with net cash flow of $2.11 billion in the prior-year period.
Total capital expenditures were $3.39 billion as of June 30, 2026, higher than $3.12 billion in the year-ago period.
EIX Reaffirms Its Earnings Outlook
Edison International reaffirmed its 2026 core earnings guidance of $5.90-$6.20 per share. The Zacks Consensus Estimate for earnings is currently pegged at $6.13 per share, which is at the higher end of the company’s guided range.
The company also maintained its 2027 core earnings forecast of $6.25-$6.65 per share and its 2028 outlook of $6.74-$7.14. Management continues to target core earnings growth of 5-7% annually from 2025 through 2030.
EIX’s Zacks Rank
Edison International currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2026 adjusted earnings per share of 37 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 47.9% from 71 cents in the year-ago quarter.
Operating revenues totaled $1.83 billion, which missed the Zacks Consensus Estimate of $1.91 billion by 4.2%. The top line also fell 0.5% from $1.84 billion in the prior-year quarter.
Entergy Corporation (ETR - Free Report) reported second-quarter 2026 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 94 cents by 9.6%. However, the bottom line decreased 1.9% from the year-ago quarter’s figure of $1.05.
Revenues rose 5.9% year over year to $3.52 billion but missed the consensus mark of $3.53 billion by 0.08%.
PG&E Corporation (PCG - Free Report) reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.