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Edison International Q3 Earnings Outpace Estimates, Revenues Miss
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Key Takeaways
EIX's Q3 core EPS of $1.92 beat estimates by 4.9%, while revenues of $4.89 billion missed estimates by 11.7%.
SCE's core earnings fell to $822 million from $994 million due to prior-year GRC benefits.
EIX reaffirmed 2026 core EPS guidance of $5.90-$6.20 and its 5-7% annual earnings growth target through 2030.
Edison International (EIX - Free Report) reported third-quarter 2026 core earnings of $1.92 per share, beating the Zacks Consensus Estimate of $1.83 by 4.9%. However, the bottom line declined 17.9% from $2.34 in the year-ago quarter, primarily due to lower earnings at Southern California Edison, reflecting the absence of benefits recognized following the implementation of the 2025 General Rate Case (“GRC”) final decision.
The company recorded GAAP earnings of $1.88 per share compared with $2.16 in the third quarter of 2025.
EIX’s Total Revenues
Edison International's third-quarter operating revenues totaled $4.89 billion, missing the Zacks Consensus Estimate of $5.53 billion by 11.7%. The top line also declined 15% from the year-ago quarter's figure of $5.75 billion.
Edison International Price, Consensus and EPS Surprise
Total operating expenses dropped 9.5% to $3.91 billion from $4.32 billion. Operation and maintenance expenses decreased to $1.14 billion from $1.18 billion, while purchased power and fuel costs fell to $1.69 billion from $1.7 billion.
Depreciation and amortization declined to $853 million from $862 million. Property and other taxes increased to $178 million from $161 million.
Operating income declined 31.6% to $0.98 billion from $1.43 billion. Interest expense increased to $545 million from $488 million.
Segmental Results of EIX
Southern California Edison generated core earnings of $822 million, down from $994 million in the third quarter of 2025. Core earnings per share declined to $2.14 from $2.58, primarily due to earnings recognized in the prior-year quarter following the implementation of the 2025 GRC final decision, which was retroactive to Jan. 1, 2025.
Edison International Parent and Other reported a core loss of $84 million, narrower than the year-ago loss of $93 million. Core loss per share improved to 22 cents from 24 cents, primarily reflecting lower preferred stock dividends.
Edison International’s Financial Update
As of Sept. 30, 2026, Edison International's cash and cash equivalents amounted to $171 million compared with $158 million as of Dec. 31, 2025.
Long-term debt was $39 billion, higher than the 2025-end level of $36.07 billion.
Net cash flow from operating activities during the first nine months of 2026 was $5.39 billion compared with $4.23 billion in the prior-year period.
Total capital expenditures during the first nine months of 2026 were $5.21 billion, higher than $4.62 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.
Management also reiterated its confidence in delivering annual core earnings growth of 5-7% from 2025 through 2030.
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2026 adjusted earnings of $1.44 per share, which surpassed the Zacks Consensus Estimate of $1.34 by 7.5%. The bottom line increased 54.8% from 93 cents in the year-ago quarter.
Operating revenues totaled $2.183 billion, which beat the Zacks Consensus Estimate of $2.178 billion by 0.2%. The top line also rose 8% from $2.02 billion in the prior-year quarter.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2026 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 6%. The bottom line also increased 6% from the year-ago quarter’s figure of 50 cents.
CNP generated revenues of $2.19 billion, which beat the Zacks Consensus Estimate by 1.9%. The top line also came in 10.2% higher than the year-ago quarter’s reported figure of $1.99 billion.
PG&E Corporation (PCG - Free Report) reported third-quarter 2026 adjusted earnings per share (EPS) of 41 cents, which missed the Zacks Consensus Estimate of 42 cents by 2.4%. The bottom line also declined 18% from the year-ago quarter’s figure of 50 cents.
PCG reported third-quarter total revenues of $6.19 billion, down 1% from $6.25 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.59 billion by 6%.
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Edison International Q3 Earnings Outpace Estimates, Revenues Miss
Key Takeaways
Edison International (EIX - Free Report) reported third-quarter 2026 core earnings of $1.92 per share, beating the Zacks Consensus Estimate of $1.83 by 4.9%. However, the bottom line declined 17.9% from $2.34 in the year-ago quarter, primarily due to lower earnings at Southern California Edison, reflecting the absence of benefits recognized following the implementation of the 2025 General Rate Case (“GRC”) final decision.
The company recorded GAAP earnings of $1.88 per share compared with $2.16 in the third quarter of 2025.
EIX’s Total Revenues
Edison International's third-quarter operating revenues totaled $4.89 billion, missing the Zacks Consensus Estimate of $5.53 billion by 11.7%. The top line also declined 15% from the year-ago quarter's figure of $5.75 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 dropped 9.5% to $3.91 billion from $4.32 billion. Operation and maintenance expenses decreased to $1.14 billion from $1.18 billion, while purchased power and fuel costs fell to $1.69 billion from $1.7 billion.
Depreciation and amortization declined to $853 million from $862 million. Property and other taxes increased to $178 million from $161 million.
Operating income declined 31.6% to $0.98 billion from $1.43 billion. Interest expense increased to $545 million from $488 million.
Segmental Results of EIX
Southern California Edison generated core earnings of $822 million, down from $994 million in the third quarter of 2025. Core earnings per share declined to $2.14 from $2.58, primarily due to earnings recognized in the prior-year quarter following the implementation of the 2025 GRC final decision, which was retroactive to Jan. 1, 2025.
Edison International Parent and Other reported a core loss of $84 million, narrower than the year-ago loss of $93 million. Core loss per share improved to 22 cents from 24 cents, primarily reflecting lower preferred stock dividends.
Edison International’s Financial Update
As of Sept. 30, 2026, Edison International's cash and cash equivalents amounted to $171 million compared with $158 million as of Dec. 31, 2025.
Long-term debt was $39 billion, higher than the 2025-end level of $36.07 billion.
Net cash flow from operating activities during the first nine months of 2026 was $5.39 billion compared with $4.23 billion in the prior-year period.
Total capital expenditures during the first nine months of 2026 were $5.21 billion, higher than $4.62 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.
Management also reiterated its confidence in delivering annual core earnings growth of 5-7% from 2025 through 2030.
EIX’s Zacks Rank
Edison International currently carries a Zacks Rank #3 (Hold). 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 third-quarter 2026 adjusted earnings of $1.44 per share, which surpassed the Zacks Consensus Estimate of $1.34 by 7.5%. The bottom line increased 54.8% from 93 cents in the year-ago quarter.
Operating revenues totaled $2.183 billion, which beat the Zacks Consensus Estimate of $2.178 billion by 0.2%. The top line also rose 8% from $2.02 billion in the prior-year quarter.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2026 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 6%. The bottom line also increased 6% from the year-ago quarter’s figure of 50 cents.
CNP generated revenues of $2.19 billion, which beat the Zacks Consensus Estimate by 1.9%. The top line also came in 10.2% higher than the year-ago quarter’s reported figure of $1.99 billion.
PG&E Corporation (PCG - Free Report) reported third-quarter 2026 adjusted earnings per share (EPS) of 41 cents, which missed the Zacks Consensus Estimate of 42 cents by 2.4%. The bottom line also declined 18% from the year-ago quarter’s figure of 50 cents.
PCG reported third-quarter total revenues of $6.19 billion, down 1% from $6.25 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.59 billion by 6%.