Edison Posts Adjusted Earnings of $1.92 a Share, Down Year Over Year in Third Quarter
Key Facts
Edison International said on October 29, 2026, that adjusted core earnings were $738 million, or $1.92 a share, in the third quarter. That was below the year-earlier quarter in 2025, when the company reported $901 million, or $2.34 a share. Net income was $724 million, or $1.88 a share, under generally accepted accounting principles, compared with $832 million, or $2.16 a share, a year earlier, the company said. The distinction separates adjusted earnings from the accounting result, with both declining year over year. Analyst estimates cited in an Investing.com report attributed to Reuters called for $1.98 a share and revenue of $5.34 billion.
The company attributed part of the earnings pressure to comparison with the third quarter of 2025, when Southern California Edison recorded earnings after the final decision in its 2025 rate case was applied. The decision was effective retroactively from January 1, 2025, boosting earnings in that quarter. The company said higher revenue, driven by the escalation mechanism approved in the decision, offset part of the impact. That puts the year-over-year comparison in the context of when regulatory revenue was recognized, as well as changes in the current period's results. In its previous quarterly report, operating revenue was $4.357 billion in the second quarter of 2026, compared with $4.543 billion in the second quarter of 2025.
Edison reaffirmed its 2026 core earnings guidance range of $5.90 to $6.20 a share. It also said it remained confident in delivering annual core earnings per share growth of between 5% and 7% from 2025 to 2030. The chief financial officer said Southern California Edison's five-year plan includes capital spending of about $38 billion to $41 billion between 2026 and 2030. He said the plan supports expected rate-base growth of about 7% between 2025 and 2030. The figures link earnings guidance to the grid investment plan, while financing costs remain among the factors addressed by management.
On the earnings call, the chief financial officer said elevated credit spreads could add $300 million to customer costs over the life of bonds the company expects to issue in 2027 alone. That potential cost comes alongside the subsidiary's capital spending plan, putting financing costs among the issues management presented. On wildfire risks, Edison said Southern California Edison had hardened about 90% of its distribution system in high fire-risk areas. It added that it continues targeted investment to reduce the remaining risks. Chief Executive Pedro Pizarro said: "California needs a permanent fix for wildfire risk to help protect customer affordability and support investment in a safer, more reliable grid."
Edison shares closed at $59.38 in the October 29 session, then fell 0.49% in after-hours trading to $59.09. EL7 data had shown the stock closing at $58.83 on October 28. The company scheduled its third-quarter earnings call for October 29 from 1:30 to 2:30 p.m. Pacific time. It also made a telephone replay available through November 12, 2026, at 6 p.m. Pacific time. These dates follow the earnings announcement, while the company left its annual guidance unchanged.