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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
Update Cost of Preferred (vs. 2025 authorized of 6.42%)
“6.95%”
Period
FY2026
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
For more information, see the Investor Guide to SCE’s 2025 GRC Oral argument scheduled for August 11, 2025 NextGen Enterprise Resource Planning Program (A.25-03-009) Requesting funding for ~$1.1B of capex and ~$239MM of O&M for 2024–2031 associated with the NextGen ERP Implementation Phase Intervenor testimony due September 15, 2025 2026 Cost of Capital (A.25-03-012) Requesting authorized cost of capital for utility operations in 2026 and to reset the annual Cost of Capital Adjustment Mechanism (CCM) Rebuttal testimony due August 20, 2025 Wildfire Woolsey Cost Recovery (A.24-10-002) Request recovery of $5.4 billion of costs to resolve claims associated with the Woolsey fire and $84 million of restoration costs Motion for consideration of settlement agreement or joint statement of stipulations and issues due by August 12, 2025 TKM Securitization (A.25-04-021) Requesting approval to issue securitized bonds to recover $1.6 billion of costs previously approved in the TKM Cost Recovery Application Awaiting final decision   14Edison International | Second-Quarter 2025 Earnings Call Ongoing wildfire risk (Request does not include an ROE “adder" above the reasonable range) SCE’s role in advancing California’s clean energy goals for customers Strengthens SCE’s credit, supporting lower borrowing costs for customers 2026 cost of capital application filed in March, requesting an ROE of 11.75% Request for 2026–2028 ROE (vs. 2025 authorized of 10.33%) 11.75% Equity Ratio (no change) 52% Update Cost of Debt (vs. 2025 authorized of 4.58%) 4.75% Update Cost of Preferred (vs. 2025 authorized of 6.42%) 6.95% Continue Cost of Capital Adjustment Mechanism (Includes updating benchmark to the monthly average for October 2024–September 2025) Key Drivers Proceeding Schedule Event Date  Application Filed 3/20/25  Protests & Responses 4/24/25  SCE Reply to Protests 5/5/25  Prehearing Conf. 6/25/25  Scoping Memo Issued 7/16/25  Intervenor Testimony 7/30/25 Rebuttal Testimony 8/20/25 Evidentiary Hearing (if needed) 9/2–9/4/25 Opening Briefs 9/19/25 Reply Briefs 10/3/25 Proposed Decision Nov. 2025   15Edison International | Second-Quarter 2025 Earnings Call Resolution of legacy wildfires entering final stages: TKM settlement approved, and Woolsey proceeding in progress TKM (A.23-08-013) Woolsey (A.24-10-002) Value ~$1.6 billion (Settlement value)1 ~$5.4 billion (Request) Next Steps Awaiting final decision on financing order to issue securitized bonds Motion for consideration of settlement or joint statement due mid-Aug. Avg. Residential Customer Cost2 ~$1.04/month ~$3.44/month (vs. average bill of ~$171) Remaining Ind. Plaintiffs ~33 ~100 TKM: 2025 Modeling ConsiderationsBoth cost recovery applications for 2017/2018 Wildfire/Mudslide Events now filed 1. Approved settlement au
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.