Edison International (EIX - Free Report) is set to release fourth-quarter and full year 2018 results on Feb 28, after the market closes.
In the last reported quarter, the company witnessed a positive earnings surprise of 19.08%. Moreover, it surpassed the Zacks Consensus Estimate in three of the trailing four quarters, the average beat being 7.17%.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
During the fourth quarter, major parts of northern and southern California took a strong hit arising from two large-scale wildfires. As a result of such devastation, Edison International’s revenues are likely to witness a decline in the to-be-reported quarter.
In line with this, the Zacks Consensus Estimate for its fourth-quarter revenues of $2.90 billion represents a decline of 9.9% on a year-over-year basis.
In the third quarter, higher total expenses dented Edison International’s core earnings. Expenses primarily increased due to higher wildfire insurance premiums. In line with this, the wildfires that took place in the fourth quarter can be expected to hurt the company’s bottom-line results in the to-be-reported quarter.
In line with this, the Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.00, which reflects 9.1% year-over-year decline.
Edison International Price and EPS Surprise