Edison International (EIX) Releases Earnings Results, Misses Expectations By $-0.12 EPS

Edison International (EIX) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.85 earnings per share for the quarter, missing the analyst consensus estimate by $-0.12. Analysts had a consensus of $0.97. The company posted revenue of $2777.00 million in the period, compared to analysts expectations of $3158.65 million. The company’s revenue was down -4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS.

Edison International opened for trading at $76.09 and hit $76.74 on the upside on Thursday, eventually ending the session at $76.45, with a gain of 0.57% or 0.43 points. The heightened volatility saw the trading volume jump to 12,36,316 shares. Company has a market cap of $24,908 M.

In a different news, on Jun 13, 2016, Gaddi H. Vasquez (Senior Vice President) sold 6,842 shares at $73.83 per share price. According to the SEC, on May 17, 2016, Ronald L Litzinger (Pres. Edison Energy Group, Inc) sold 12,677 shares at $71.28 per share price. On Mar 24, 2016, Richard T Iii Schlosberg (director) sold 10,000 shares at $71.61 per share price, according to the Form-4 filing with the securities and exchange commission.

Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison International’s other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC a subsidiary engaged in distributed generation has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.

Edison International

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