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Edison International — Jul 31, 2025 release

Fiscal 2025 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000827052-25-000073
Open on SEC.gov ↗
Showing in the filing
Capital Expenditures (Range Case)
“$6.8”
Period
FY2027
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 83
Rev. Req. Increase (SCE) for FY2027
“0.8”
Core EPS for FY2025
“$5.94–6.34”
Core Earnings per Share for FY2028
“$6.74–7.14”
Rev. Req. Increase (SCE) for FY2025
“1.9”
Rev. Req. Increase (SCE) for FY2028
“0.7”
Rev. Req. Increase (SCE) for FY2026
“0.7”
Rev. Req. Increase (PD) for FY2025
“1.2”
Rev. Req. Increase (PD) for FY2026
“0.5”
Rev. Req. Increase (PD) for FY2028
“0.4”
Rev. Req. Increase (PD) for FY2027
“0.4”
Total Company Rate Base (SCE) for FY2025
“49.4”
Total Company Rate Base (SCE) for FY2026
“53.0”
Total Company Rate Base (SCE) for FY2027
“56.8”
Total Company Rate Base (SCE) for FY2028
“60.6”
Total Company Rate Base (PD) for FY2025
“48.5”
Total Company Rate Base (PD) for FY2026
“51.4”
Total Company Rate Base (PD) for FY2027
“53.1”
Total Company Rate Base (PD) for FY2028
“56.3”
CPUC GRC Capex (SCE) for FY2028
“n/a”
CPUC GRC Capex (SCE) for FY2027
“n/a”
CPUC GRC Capex (SCE) for FY2026
“n/a”
CPUC GRC Capex (PD) for FY2025
“6.2”
Additional miles of covered conductor and ta… for FY2026
“700+ miles”
Wildfire Mitigation Plan investment for FY2026
“$6.2 billion”
Capital Expenditures (CPUC) for FY2025
“6.7”
Capital Expenditures (CPUC) for FY2027
“7.2”
Capital Expenditures (CPUC) for FY2026
“7.2”
Capital Expenditures (CPUC) for FY2028
“7.0”
Capital Expenditures (FERC) for FY2025
“0.8”
Capital Expenditures (FERC) for FY2026
“0.9”
Capital Expenditures (FERC) for FY2028
“0.7”
Capital Expenditures (Total) for FY2025
“$7.5”
Capital Expenditures (Total) for FY2026
“$8.1”
Capital Expenditures (Total) for FY2027
“$8.2”
Capital Expenditures (Total) for FY2028
“$7.7”
Capital Expenditures (Range Case) for FY2025
“$6.6”
Capital Expenditures (Range Case) for FY2027
“$6.8”
Capital Expenditures (Range Case) for FY2026
“$6.8”
Capital Expenditures (Range Case) for FY2028
“$6.4”
Capex forecast for FY2023
“~$38–43 billion”
Rate Base (CPUC) for FY2025
“41.8”
Rate Base (CPUC) for FY2026
“45.3”
Rate Base (CPUC) for FY2027
“48.7”
Rate Base (CPUC) for FY2028
“51.8”
Rate Base (FERC) for FY2025
“7.6”
Rate Base (FERC) for FY2026
“7.7”
Rate Base (FERC) for FY2028
“8.8”
Rate Base (Total) for FY2025
“$49.4”
Rate Base (Total) for FY2026
“$53.0”
Rate Base (Total) for FY2027
“$56.8”
Rate Base (Total) for FY2028
“$60.6”
Rate base growth for FY2023
“~6–8%”
Rate Base (Range Case) for FY2025
“$48.1”
Rate Base (FERC) for FY2027
“8.1”
Rate Base (Range Case) for FY2026
“$50.4”
Rate Base (Range Case) for FY2027
“$52.8”
Rate Base (Range Case) for FY2028
“$55.3”
Rate Base EPS (based on capex levels) for FY2025
“6.60–6.80”
CPUC GRC Capex (SCE) for FY2025
“6.8”
Capital Expenditures (FERC) for FY2027
“1.0”
SCE Op. Variance for FY2025
“1.05–1.25”
SCE Costs Excluded from Authorized for FY2025
“(0.85)–(0.75)”
EIX Parent & Other for FY2025
“(0.88)–(0.93)”
Core Earnings per Share for FY2025
“$5.84”
Core EPS (achievable) for FY2028
“$6.74–7.14”
Capital Plan for the long term
“$27–32”
Dividends for FY2025
“$6–7”
Net cash provided by operating activities for FY2025
“$25–28”
Incremental Debt for FY2025
“$8–11”
Equity for FY2025
“~$0.4”
Target dividend payout of SCE core earnings for the long term
“45–55%”
Dividend payout
“45–55% of SCE core earnings”
Expected load growth for FY2035
“35%”
Expected load growth for FY2045
“80%”
Request for 2026–2028 ROE (vs. 2025 authoriz… for FY2026
“11.75%”
Equity Ratio (no change) for FY2026
“52%”
Update Cost of Debt (vs. 2025 authorized of … for FY2026
“4.75%”
Update Cost of Preferred (vs. 2025 authorize… for FY2026
“6.95%”
Securitization proceeds for FY2025
“~$1.6 billion”
Remaining GRC and wildfire-related applicati… for FY2026
“~$2.6 billion”
Basic EIX EPS for FY2025
“$8.22” – “$8.62”
Total Non-Core Items (High) for FY2025
“(2.28)”
Core EIX EPS for FY2025
“$5.94” – “$6.34”
Exhibit 99.1 · the passage around this item
… earlier in the release
See EIX Core EPS Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix Note: Diluted earnings were $0.89 and $1.13 per share for the three months ended June 30, 2025 and 2024, respectively In the absence of 2025 GRC decision, recognizing revenue based on 2024 authorized revenue requirement, adjusted to reflect 2025 CPUC ROE Second-quarter 2025 Core EPS decreased year over year, primarily due to:  SCE: Higher O&M and net impact of regulatory decisions in each period  EIX Parent and Other: Higher interest expense Takeaways   6Edison International | Second-Quarter 2025 Earnings Call 5.2 5.4 6.7 7.2 7.2 7.0 0.2 0.3 0.8 0.9 1.0 0.7 $5.4 $5.7 $7.5 $8.1 $8.2 $7.7 2023 2024 2025 2026 2027 2028 Capital deployment expected to increase in 2025–20281 Range Case2 (Recorded) (Recorded) $6.6 $6.8 $6.8 $6.4 GRC underpins ~$38–43 billion 2023–2028 capex forecast; substantial additional investment opportunities offer upside CPUC FERC Capital Expenditures, $ in Billions Forecast does not include substantial additional capital deployment opportunities 1. NextGen ERP (~$1bn; filed March ‘25) 2. Advanced Metering Infrastructure (est. filing 1Q26) 3. Other grid investments supporting restoration, reliability, resilience, and readiness 4. FERC transmission $3bn+ $2bn+ Forecast 1. Forecast for 2025 includes amounts requested in SCE’s 2025 GRC filing. Additionally, reflects non-GRC spending subject to future regulatory requests beyond GRC proceedings and FERC Formula Rate updates 2. Annual Range Case capital reflects variability associated with future requests based on management judgment, potential for permitting delays and other operational considerations   7Edison International | Second-Quarter 2025 Earnings Call 33.6 35.4 41.8 45.3 48.7 51.8 7.6 7.4 7.6 7.7 8.1 8.8 $41.2 $42.8 $49.4 $53.0 $56.8 $60.6 2023 2024 2025 2026 2027 2028 Projected ~6–8% rate base growth 2023–2028; substantial additional investment opportunities offer upside CPUC FERC ~8% CAGR 2023–2028 Rate
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.