Edison Intl Stock Price, News & Analysis

Edison International emphasizes the urgent need for California to enhance its greenhouse gas (GHG) reduction efforts to meet 2030 decarbonization goals. A new policy paper, Mind the Gap, outlines the necessity for a 4.1% annual reduction in GHG emissions, quadrupling the current pace. The report identifies critical policy recommendations to decarbonize various sectors, amplifying the role of renewable energy and electrification to achieve state goals.

The Board of Directors of Edison International (NYSE: EIX) declared a quarterly common stock dividend of $0.6625 per share, payable on October 31, 2021, to shareholders of record on September 30, 2021. Additionally, an initial semi-annual dividend of $27.77083 per share was announced for the 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A, payable on September 15, 2021. Southern California Edison also declared quarterly dividends on various preference stocks.

Edison International (NYSE: EIX) reported a second quarter 2021 net income of $318 million, or $0.84 per share, compared to $318 million, or $0.85 per share, in Q2 2020. Adjusted core earnings were $356 million, or $0.94 per share, down from $375 million, or $1.00 per share, in the prior year. The decrease in core earnings is attributed to higher depreciation, despite increased FERC revenue and reduced wildfire mitigation expenses. The company is focused on grid resiliency and sustainability investments, including over $800 million for vehicle electrification.

Southern California Edison has launched the Charge Ready program, a $436 million initiative aimed at expanding electric vehicle charging infrastructure in Southern California. Over the next five years, the program will install approximately 38,000 new chargers in various locations, including disadvantaged communities. This effort follows a successful pilot program that added more than 2,700 charge ports at nearly 150 sites. The initiative also includes a related program, Charge Ready Transport, designed to support medium- and heavy-duty EVs with an investment of $356 million.

Edison International (EIX) announced its Second Quarter 2021 Financial Results during a conference call on July 29, 2021. The company, which operates as one of the largest electric utility holding firms in the United States, serves 15 million customers across California. Through its subsidiaries, Southern California Edison and Edison Energy, Edison aims to provide sustainable energy solutions. Investors can access the earnings call replay until August 12, 2021, via specified telephone numbers. Detailed financial metrics were not disclosed in the PR.

The Board of Directors of Edison International (NYSE: EIX) declared a quarterly common stock dividend of $0.6625 per share. This dividend will be payable on July 31, 2021, to shareholders of record as of July 6, 2021. Edison International is one of the largest electric utility holding companies in the U.S., providing clean energy through its subsidiaries, including Southern California Edison, which serves approximately 15 million customers in California.

Southern California Edison (EIX) has completed upgrades to the West of Devers transmission lines, enhancing capacity to deliver over 7,000 MW of renewable energy to Southern California. The project, costing $740 million, increased power delivery capacity from 1,600 MW to 4,800 MW and is crucial for meeting peak summer demand. SCE partnered with Morongo Transmission for part of the funding, with $400 million expected post-regulatory approval. This project was completed ahead of schedule, emphasizing SCE’s commitment to advancing California’s clean energy goals.

Southern California Edison is funding nearly $18 million to lease three helicopters for local firefighting agencies, enhancing wildfire response capabilities. The aircraft, which include two Coulson-Unical CH-47 helitankers and a Sikorsky-61 helitanker, will be operational from June 15 to year-end across a 50,000-square-mile service area. This initiative follows a significant 2020 fire season and marks an ongoing commitment to wildfire mitigation. The Los Angeles County, Orange County, and Ventura County Fire Departments will manage the helicopters upon board approval.