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Edison International Q4 Earnings Miss Estimates, Revenues Rise Y/Y
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Edison International (EIX - Free Report) reported fourth-quarter 2024 adjusted earnings of $1.05 per share, which missed the Zacks Consensus Estimate of $1.08 by 2.8%. The bottom line also decreased 18% from $1.28 in the year-ago quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The company reported GAAP earnings of 88 cents per share compared with 99 cents recorded in the fourth quarter of 2023.
The company reported 2024 adjusted earnings of $4.93 per share, which were much higher than the year-ago figure of $4.76. However, the full-year bottom line missed the Zacks Consensus Estimate of $4.95 per share.
EIX’s Total Revenues
Edison International's fourth-quarter operating revenues totaled $3.98 billion, which beat the Zacks Consensus Estimate of $3.80 billion by 4.9%. The top line also increased 7.5% from the year-ago quarter’s figure of $3.71 billion.
The company reported operating revenues of $17.60 billion in 2024, which were higher than $16.34 billion in 2023. The full-year top line also beat the consensus estimate of $17.28 billion.
Edison International Price, Consensus and EPS Surprise
During 2024, EIX’s total operating expenses increased 7% year over year to $14.67 billion.
Purchased power and fuel costs decreased 5.1% year over year, while depreciation and amortization expenses rose 8.8% during the same time frame.
Operation and maintenance costs rose 25% in 2024, whereas property and other taxes climbed 9.3%.
The company’s operating income amounted to $2.93 billion during 2024 compared with $2.63 billion in the prior-year period.
Segmental Results of EIX
Southern California Edison’s fourth-quarter adjusted earnings were $1.28 per share compared with $1.45 in the year-ago quarter. The decrease can be attributed to higher operation and maintenance expenses and increased interest expenses.
Edison International Parent and Other incurred a loss of 23 cents per share, which deteriorated from the loss of 17 cents incurred in the year-ago quarter. The year-over-year deterioration was primarily due to higher interest expense and the absence of gains on preferred stock repurchases in 2023.
Edison International’s Financial Update
As of Dec. 31, 2024, Edison International's cash and cash equivalents amounted to $193 million compared with $345 million as of Dec. 31, 2023.
The long-term debt was $33.53 billion as of Dec. 31, 2024, higher than the 2023-end level of $30.32 billion.
The net cash flow from operating activities amounted to $5.01 billion during 2024 compared with $3.40 billion at the end of 2023.
Total capital expenditures were $5.71 billion as of Dec. 31, 2024, higher than $5.45 billion in the year-ago period.
EIX’s 2025 Guidance
The company has introduced its 2025 guidance.
EIX expects to generate earnings in the range of $5.94-$6.34 per share. The Zacks Consensus Estimate for earnings is currently pegged at $5.76 per share, which is below the company’s guided range.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%. The company reported operating revenues of $5.38 billion, which lagged the consensus estimate of $6.49 billion by 17%.
WEC Energy Group (WEC - Free Report) reported fourth-quarter 2024 earnings of $1.43 per share, which missed the Zacks Consensus Estimate of $1.44 by 0.7%. The company reported operating revenues of $2.28 billion, which missed the consensus estimate of $2.6 billion by 12.1%.
National Fuel Gas Company (NFG - Free Report) reported first-quarter fiscal 2025 adjusted operating earnings of $1.66 per share, which beat the Zacks Consensus Estimate of $1.57 by 5.7%. The company reported sales of $549.5 million, which missed the consensus estimate of $594 million by 7.5%.
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Edison International Q4 Earnings Miss Estimates, Revenues Rise Y/Y
Edison International (EIX - Free Report) reported fourth-quarter 2024 adjusted earnings of $1.05 per share, which missed the Zacks Consensus Estimate of $1.08 by 2.8%. The bottom line also decreased 18% from $1.28 in the year-ago quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
The company reported GAAP earnings of 88 cents per share compared with 99 cents recorded in the fourth quarter of 2023.
The company reported 2024 adjusted earnings of $4.93 per share, which were much higher than the year-ago figure of $4.76. However, the full-year bottom line missed the Zacks Consensus Estimate of $4.95 per share.
EIX’s Total Revenues
Edison International's fourth-quarter operating revenues totaled $3.98 billion, which beat the Zacks Consensus Estimate of $3.80 billion by 4.9%. The top line also increased 7.5% from the year-ago quarter’s figure of $3.71 billion.
The company reported operating revenues of $17.60 billion in 2024, which were higher than $16.34 billion in 2023. The full-year top line also beat the consensus estimate of $17.28 billion.
Edison International Price, Consensus and EPS Surprise
Edison International price-consensus-eps-surprise-chart | Edison International Quote
Operational Highlights of Edison International
During 2024, EIX’s total operating expenses increased 7% year over year to $14.67 billion.
Purchased power and fuel costs decreased 5.1% year over year, while depreciation and amortization expenses rose 8.8% during the same time frame.
Operation and maintenance costs rose 25% in 2024, whereas property and other taxes climbed 9.3%.
The company’s operating income amounted to $2.93 billion during 2024 compared with $2.63 billion in the prior-year period.
Segmental Results of EIX
Southern California Edison’s fourth-quarter adjusted earnings were $1.28 per share compared with $1.45 in the year-ago quarter. The decrease can be attributed to higher operation and maintenance expenses and increased interest expenses.
Edison International Parent and Other incurred a loss of 23 cents per share, which deteriorated from the loss of 17 cents incurred in the year-ago quarter. The year-over-year deterioration was primarily due to higher interest expense and the absence of gains on preferred stock repurchases in 2023.
Edison International’s Financial Update
As of Dec. 31, 2024, Edison International's cash and cash equivalents amounted to $193 million compared with $345 million as of Dec. 31, 2023.
The long-term debt was $33.53 billion as of Dec. 31, 2024, higher than the 2023-end level of $30.32 billion.
The net cash flow from operating activities amounted to $5.01 billion during 2024 compared with $3.40 billion at the end of 2023.
Total capital expenditures were $5.71 billion as of Dec. 31, 2024, higher than $5.45 billion in the year-ago period.
EIX’s 2025 Guidance
The company has introduced its 2025 guidance.
EIX expects to generate earnings in the range of $5.94-$6.34 per share. The Zacks Consensus Estimate for earnings is currently pegged at $5.76 per share, which is below the company’s guided range.
Edison International’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 Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%. The company reported operating revenues of $5.38 billion, which lagged the consensus estimate of $6.49 billion by 17%.
WEC Energy Group (WEC - Free Report) reported fourth-quarter 2024 earnings of $1.43 per share, which missed the Zacks Consensus Estimate of $1.44 by 0.7%. The company reported operating revenues of $2.28 billion, which missed the consensus estimate of $2.6 billion by 12.1%.
National Fuel Gas Company (NFG - Free Report) reported first-quarter fiscal 2025 adjusted operating earnings of $1.66 per share, which beat the Zacks Consensus Estimate of $1.57 by 5.7%. The company reported sales of $549.5 million, which missed the consensus estimate of $594 million by 7.5%.