Edison earnings: guidance, results and risks
MyStockButler's October 2026 analysis: Edison reported September 2026 revenue of $4.886 billion, down from $5.750 billion a year earlier, and diluted EPS of $1.87 versus $2.16. Watch the Eaton Fire’s unresolved liability, claims and regulatory judgments in the next release.
What has Edison guided for 2026 and 2027?
For 2026, Edison guides to core EPS of $5.90 to $6.20. For 2027, it guides to $6.25 to $6.65. Its 2030 target is $7.45 to $8.20 per share, based on annualized core EPS growth of 5% to 7% from 2025 through 2030.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| EIX Core EPS (2026) | Year to Dec 2026 | 5.90 | 6.20 | Oct 29, 2026 |
| EIX Consolidated Core EPS (2027) | Year to Dec 2027 | 6.25 | 6.65 | Oct 29, 2026 |
| Core EPS CAGR | 2025–2030 | 5.0% | 7.0% | Oct 29, 2026 |
| Capital Plan (US$ billions) | 2026–2030 | 38 | 41 | Oct 29, 2026 |
What this means. The “total capital expenditures using range case” figure is a separate planning scenario, not the low end of the company’s expected spending range.
Has Edison kept its past earnings promises?
In October 2026, Edison left its core outlook intact but lowered its basic EPS range to $5.66 to $5.96 because of non-core charges already recorded. Its core record is strong: over the five years checked, results were above or within the initial range, though the 2025 result benefited from regulatory revenue and settlement-related interest. That makes the promise credible, but not independent of unusual items.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| EIX Core EPS | 5 years | 1 | 4 | 0 |
What is Edison’s revenue and profit trend over the last eight quarters?
Revenue fell from $5.750 billion in the September 2025 quarter to $4.886 billion in September 2026. Operating income and diluted EPS also fell. But the 2025 general rate case was approved in September 2025 and applied back to January, so SCE recorded a catch-up that included roughly $394 million attributable to the first two quarters.
Cash was stronger in the latest quarter, with positive free cash flow, but the preceding two quarters had negative free cash flow. The specialist therefore watches several quarters of authorized revenue, collections, costs and financing rather than treating one comparison as a trend.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,886 | 4,357 | 4,103 | 5,213 | 5,750 | 4,543 | 3,811 | 3,984 |
| Gross margin | 65.5% | 73.9% | 76.4% | 80.3% | 70.4% | 74.5% | 72.5% | 73.2% |
| Operating income | 980 | 1,092 | 1,074 | 2,752 | 1,432 | 775 | 2,134 | 790 |
| Net income | 726 | 535 | 541 | 1,880 | 854 | 365 | 1,458 | 362 |
| EPS, diluted | 1.87 | 1.38 | 1.37 | 4.79 | 2.16 | 0.89 | 3.72 | 0.87 |
| = Free cash flow | 875 | -576 | -112 | -319 | 618 | -830 | -184 | -326 |
What this means. Free cash flow can be negative even when the company earns a profit because buying equipment uses cash.
What should investors watch in Edison’s next release?
The Eaton Fire is the immediate risk because its final cost could affect both cash and borrowing. The fire began in January 2025, and county investigators said in August 2026 that electrical arcing on an out-of-service SCE tower caused the ignition. Liability, claims and regulatory judgments remain unresolved.