Welcome to our dedicated page for Edison International news (Ticker: EIX), a resource for investors and traders seeking the latest updates and insights on Edison International stock.
Edison International (EIX), headquartered in Rosemead, California, is a premier energy company with a primary focus on generating and distributing electric power. As the parent company of Southern California Edison (SCE), it serves over 5 million customers across 50,000 square miles of Southern California, excluding Los Angeles. Southern California Edison is among the nation's largest electric utilities, providing reliable and affordable electricity to millions.
In addition to its utility operations, Edison International invests in infrastructure and energy assets, with a significant emphasis on renewable energy. The company’s non-utility subsidiary, Edison Energy, engages in energy-related products and services, further diversifying its portfolio.
Recently, Edison International has been at the forefront of efforts to combat climate change and advance clean energy solutions. Notable achievements include the installation of a 646-kilowatt solar system at The Knolls, an affordable apartment complex, significantly reducing its residents' carbon footprint and energy costs. The company has also been active in publishing influential policy recommendations, such as the 'Mind the Gap' report, which outlines strategies to achieve California's 2045 net-zero emissions target.
Edison International is committed to transforming California's electric system to support the integration of clean energy resources. This involves innovative planning across generation, transmission, distribution, and local resources. Challenges like interconnection bottlenecks and the need for advanced transmission infrastructure are being addressed through collaborative efforts with state agencies and stakeholders.
The company is also focusing on de-risking the development of emerging clean technologies, such as offshore wind and clean firm generation, to ensure a reliable and flexible power supply. Initiatives like the Solar on Multifamily Affordable Housing program exemplify Edison International's dedication to promoting sustainability and cost savings for all customers.
Financially, Edison International remains robust, with strategic investments and partnerships driving its growth. The company continues to advocate for regulatory reforms to expedite the deployment of essential clean energy infrastructure, aligning with its long-term vision of a resilient, cost-effective, and environmentally sustainable energy system.
As a leader in the energy sector, Edison International plays a critical role in shaping a cleaner, more sustainable future, making significant strides towards achieving California's ambitious climate goals while ensuring the reliability and affordability of electricity for its customers.
Edison International (NYSE: EIX) will announce its First Quarter 2022 Financial Results on May 3, 2022, from 1:30 p.m. to 2:30 p.m. (Pacific Time). The earnings call can be accessed by dialing 1-888-673-9780 for domestic callers and 1-312-470-0178 for international callers, using the passcode Edison. A replay will be available until May 18, 2022. Don't miss the live webcast at www.edisoninvestor.com.
Edison International (NYSE:EIX) and Southern California Edison have opened applications for the 2022 Edison International Lineworker Scholarship Program, in partnership with IBEW Local 47. This initiative aims to enhance workforce diversity, particularly among Black individuals, who are underrepresented in SCE's workforce. The program offers up to $25,000 in scholarships, funded by $1 million from Edison shareholders and IBEW Local 47, covering tuition, tools, and support services. The application deadline is May 6, 2022.
Edison International (NYSE: EIX) has appointed Marcy L. Reed to its board of directors as of today. Reed brings over 30 years of experience in the electric utility sector, mainly from her tenure at National Grid plc, where she held significant roles, including president of the Massachusetts business. She has expertise in utility operations, energy policy, and sustainability. Her background is aligned with Edison International's clean energy strategy. Reed also serves on several boards, including Clean Harbors, Inc., and Blue Cross Blue Shield of Massachusetts.
The Board of Directors of Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.70 per share, payable on April 30, 2022, to shareholders of record as of March 31, 2022. Additionally, a semi-annual dividend of $26.875 on Series A Preferred Stock and an initial dividend of $17.08333 on Series B Preferred Stock are to be paid on March 15, 2022. Other quarterly dividends include various amounts for Series G, H, J, K, L, and E preference stocks, all payable on March 15, 2022 and May 1, 2022.
Edison International (NYSE: EIX) reported its fourth quarter 2021 results, posting net income of $523 million, or $1.38 per share, slightly down from $526 million in 2020. Core EPS for the quarter was $1.16, down from $1.19, primarily due to increased operational costs. The company declared a quarterly dividend of $0.70 per share, maintaining a solid annualized rate of $2.80. For 2022, Edison International anticipates core EPS in the range of $4.40 to $4.70, with an expected long-term EPS growth rate of 5-7%. Full-year 2021 GAAP EPS reached $2.00.
Southern California Edison (EIX) has filed its 2022 update to the Wildfire Mitigation Plan with the California Office of Energy Infrastructure Safety. The plan aims to enhance grid safety and reliability against extreme weather exacerbated by climate change, with initiatives including the installation of insulated wiring. The company has reduced wildfire risks by 65-70% since 2018 and plans to spend approximately $1.66 billion in 2022 for continued improvements. SCE also explores innovative technologies like AI for wildfire detection and aims to support vulnerable communities during power shutoffs.
Southern California Edison is providing $205 million in relief to around 260,000 residential customers with past-due balances from March 4, 2020 to June 15, 2021. Customers will receive one-time credits on their February or March bills, funding through the California Arrearage Payment Program, which utilizes federal resources from the American Rescue Plan Act of 2021. Customers with balances over 60 days past due are automatically enrolled in 24-month payment plans, with additional assistance options available.
On February 10, the San Onofre Community Engagement Panel will host a briefing by Dr. Kimberly Petry from the Department of Energy regarding off-site consolidated interim storage for spent nuclear fuel. This session follows the DOE's announcement seeking public input on a consent-based siting process, which aims to find suitable locations for such facilities while prioritizing community involvement. Currently, 123 canisters of spent nuclear fuel are stored at San Onofre, hindering complete decommissioning. The DOE has received support for this initiative, including $20 million in funding for related activities.
Edison International (NYSE: EIX) announced its Fourth Quarter and Full-Year 2021 financial results on February 24, 2022. The conference call will occur from 1:30–2:30 p.m. PT, allowing investors to analyze their performance in detail. Key figures from the report are awaited, which could provide insights on earnings, revenues, and EPS. Investors can join the call using the specified numbers for U.S. and international callers. A replay will be available until March 10, 2022.
Southern California Edison is proposing a $677.2 million plan to install around 250,000 electric heat pumps across its service area, aimed at reducing greenhouse gas emissions and improving indoor air quality. If approved by the California Public Utilities Commission, this initiative will benefit approximately 81,000 installations for income-qualified customers. The program is projected to create over 100,000 jobs in California’s construction and energy sectors, while aligning with California’s carbon neutrality goals and addressing the GHG emissions gap.
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