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 has announced the 12 recipients of its Lineworker Scholarship, awarding up to $25,000 per recipient to pursue a career in the skilled trade workforce at Southern California Edison (SCE). The scholarship, funded by Edison International shareholders and IBEW Local 47, aims to build a diverse workforce in SCE's service area. It covers tuition, tools, and support services for the Powerline Mechanic Certificate Program at Los Angeles Trade-Technical College and obtaining a Class A driver's license.
Since its launch in 2021, the program has awarded 35 scholarships, focusing on increasing representation of Black, Asian Pacific Islander, Native American, and female workers in SCE's skilled workforce. Successful graduates are eligible for entry-level positions at SCE upon completing pre-employment requirements. The initiative supports California's 2045 carbon-free goal by preparing a skilled workforce for the electric transition.
Edison International (NYSE: EIX) has announced a quarterly dividend of $0.78 per share for Q2.
The dividend will be payable on July 31, 2024, to shareholders who are on record as of July 8, 2024.
Edison International (NYSE: EIX) will hold a conference call to discuss its Second Quarter 2024 financial results on Thursday, July 25, from 1:30 to 2:30 p.m. PDT.
Details for participating in the call include dial-in numbers for both U.S. and international callers and a passcode. The call will be webcast live on Edison International's investor website, with a telephone replay available until August 7, 6 p.m. PDT.
For investor queries, contact Sam Ramraj at (626) 302-2540, and for media inquiries, reach out to (626) 302-2255 or news@sce.com. More information can be found on BusinessWire.
Southern California Edison (SCE) and Lotus Infrastructure Partners have been selected by the California Independent System Operator (CAISO) to develop, permit, own, operate, and maintain a new transmission infrastructure project in Southern California. The project involves constructing a high-voltage transmission line from the Serrano Substation in Orange County to near the retired San Onofre Nuclear Generating Station (SONGS). This line will deliver energy from renewable sources like solar, wind, and battery installations. Lotus will lead the project’s development, while SCE will purchase the project upon completion and regulatory approval, leasing 25% of the transmission capacity back to Lotus. The project will support California's clean energy goals and address the increasing demand for reliable electricity.
Southern California Edison announced the redemption of all outstanding shares of its Series E Preference Stock on June 6, 2024, at a price of $1,000 per share, plus accrued dividends. The redemption will be funded through an offering of new preference securities and managed by The Depository Trust Company. After redemption, all rights and dividends on the Series E Preference Stock will cease.
Edison International reported a first-quarter 2024 net loss of $11 million, or $0.03 per share, compared to a net income of $310 million, or $0.81 per share, in the same period last year. The company's first-quarter core earnings were $438 million, or $1.13 per share, showing an increase from the previous year. The company revised its best estimate of expected losses for the 2017/2018 Wildfire/Mudslide Events, resulting in a net after-tax charge of $333 million. Edison International affirmed its 2024 core EPS guidance range of $4.75-$5.05 and reaffirmed its long-term core EPS growth rate targets of 5%-7% for 2021-2025 and 5%-7% for 2025-2028.
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