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Edison InternationalEIX

Sector
Energy
Industry
Electric Services
Exchange
NYSE

Stock Price $EIX

Latest filings

You are here#26 of 32 in Utilities by market cap

Filing record · 2016–202610-K1110-Q348-K186

EIX filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 186 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · Oct ’19Oct ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Material agreement8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $19.32B
YoY changeLargest recent move+15.5%in FY22Latest +9.8%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All EIX Financial Metrics53 metrics

Income Statement11

Balance Sheet23

Cash Flow14

Per Share5

02—Overview

Edison International Financial Overview 2021–2025

Updated Nov 2, 2026

Edison International posted a staggering $11.55a in earnings per share for FY2025, supercharged by massive wildfire cost recoveries that offset years of catastrophic liability charges. While the utility’s core operations are expanding through authorized rate increases, its bottom line remains heavily distorted by the multibillion-dollar financial hangover of historic California wildfires.

The company's reported profitability radically shifted as earnings grew from $2.00b per share in FY2021 to a settlement-driven $11.55 per share by FY2025. In FY2021, non-core items like a $919 million after-tax charge for the 2017 and 2018 wildfire events severely depressed earnings. Fast forward to the first nine months of FY2025, and net income spiked to $2.611 billion, largely because the TKM Settlement Agreement allowed Southern California Edison to recover 60% of $2.7 billion in past wildfire losses. To modernize its grid and mitigate future ignition risks, the utility is deploying heavy capital, operating under a $29.3 billion expenditure plan for the 2025 to 2028 period.

Despite the headline earnings surge, the market priced in the ongoing threat of unrecoverable liabilities, punctuated by an estimated $1.6 billionc in settlement losses accumulating by mid-2026 for the January 2025 Eaton Fire. Reflecting this persistent risk, the stock traded at $60.02 at the close of FY2025, commanding a highly compressed 5.2x earnings multiple and a $23.1 billion market cap.

Recent Developments (Q2 and Q3 2026)

Edison International's net income fell by $822 milliond year-over-year during the first nine months of 2026, driven by reduced non-core benefits. Operating revenue concurrently declined by $743 million. Conversely, core operations delivered $1.92 in core earnings per share for Q3 2026. The company generated liquidity by completing a $2 billion Woolsey Fire securitization and issuing $500 million in 5.00% senior notes. These moves fund a new $38 billion to $41 billion capital expenditure plan spanning through 2030.

Bulls emphasize the reaffirmed 2026 core EPS guidance of $5.90 to $6.20e and projected 5% to 7% growth rate as evidence of operational stability. Bears highlight that Eaton Fire settlement liabilities escalated to $1.8 billion in Q3 2026 after authorities linked the ignition to company equipment, keeping the stock heavily discounted at 5.1x earnings as of October 29, 2026.

What to watch: the scheduled January 2027 bellwether jury trial for Eaton Fire claims; potential state legislative sessions addressing utility liability caps.

03—Filings

Recent SEC Filings

  1. 8-KEdison International 8-K Report, Regulation FD Disclosure (Oct 30, 2026)Edison International (EIX) and Southern California Edison Company (SCE) filed a Form 8-K on October 30, 2026 furnishing an October 29, 2026 Business Update presentation (Exhibit 99.1) for use in meetings with institutional investors, analysts and investor conferences. The presentation reaffirms EIX's 2026–2028 Core EPS guidance: consolidated Core EPS of $5.90–6.20 for 2026, $6.25–6.65 for 2027 and $6.74–7.14 for 2028. It also projects 5–7% Core EPS CAGR for 2026–2030 from a 2025 midpoint of $5.84, a rate base CAGR of about 7% (2025–2030), and a $38–41 billion capital plan for 2026–2030 with no equity issuance forecast through 2030. The most material item for investors is the wildfire liability framework. Management states that durable wildfire reform remains necessary because the regular 2026 legislative session ended without reform, and it notes key upcoming dates of November 2 (a CPUC report on the statewide impact of lacking structural reform) and November 15 (the constitutional deadline to pass a bill). For the Eaton Fire, the presentation says SCE has entered into settlements totaling $1.8 billion and recorded expected recoveries of $917 million from self-insurance, $859 million from the Wildfire Fund and $70 million from FERC rates, with $207 million received from the Wildfire Fund to date. Management states it is currently unable to reasonably estimate a range of losses that may be incurred in connection with the Eaton Fire. Credit ratings remain investment grade, but the S&P and Fitch outlooks for both SCE and EIX are shown as Negative, while Moody's shows Baa1 (SCE) and Baa2 (EIX) with Stable outlooks. The presentation also notes that SCE expects to recover $11 billion or more of historical costs by the end of 2027, and that SB 254 allows securitization of $6 billion of wildfire mitigation spending (SCE share about $2.9 billion).
  2. 8-KEdison International 8-K Report, Financial Results (Oct 29, 2026)Edison International (EIX) filed an 8-K on October 29, 2026, primarily to furnish its third-quarter 2026 financial results and related information. The report highlights that Edison International reported third-quarter GAAP EPS of $1.88 and core EPS of $1.92. The company reaffirmed its full-year 2026 core EPS guidance of $5.90 to $6.20 and maintained its confidence in achieving 5% to 7% core EPS growth from 2025 to 2030. A significant focus of the filing is the ongoing need for durable wildfire reform. Management expressed disappointment that legislative action was not achieved during the regular session and emphasized the importance of a long-term solution that includes a clear liquidity source and a shareholder liability cap not tied to the Wildfire Fund. The company is actively engaging with stakeholders to advocate for a special legislative session. Southern California Edison (SCE) has made substantial progress in wildfire mitigation, hardening approximately 90% of its distribution system in high fire risk areas. The company also addressed the Eaton Fire, stating its belief that SCE's conduct was consistent with a reasonable utility and that there is no basis for felony liability or willful disregard. The financial statements show a decrease in net income and core earnings compared to the prior year's third quarter, largely due to the timing of regulatory decisions.
  3. 8-KEdison International 8-K Report, Regulation FD Disclosure (Jul 31, 2026)Edison International (EIX) filed an 8-K on July 31, 2026 furnishing a July 30, 2026 business update presentation (Exhibit 99.1) for use in investor meetings and conferences. The filing itself contains no new financial results; its value lies in reaffirmed guidance and updated multi-year outlook. Management reaffirmed 2026 Core EPS guidance of $5.90–6.20 and 2027 Core EPS guidance of $6.25–6.65, and introduced 2028 Core EPS guidance of $6.74–7.14, which implies 5–7% growth from the $5.84 original 2025 midpoint. The company projects roughly 7% SCE rate base CAGR from 2025 to 2030, supported by a $38–41 billion capital plan for 2026–2030, and reiterates no equity issuance in its 2026–2030 financing plan. The most important wildfire-related items concern the Eaton Fire and California's SB 254 framework. SCE states it believes its equipment was likely associated with the Eaton Fire ignition, but management is currently unable to estimate potential losses. The company points to clear funding sources: the Wildfire Fund's initial account (administrator estimates roughly $21 billion of claim-paying capacity), customer-funded self-insurance of the first $1 billion, and securitization authority under SB 254. Under SB 254, SCE's share of a $6 billion securitization of wildfire mitigation capex is about $2.9 billion, and the company expects to recover over $11 billion of historical costs by end-2027. Investors should note that the presentation's own risk factors flag that the CPUC's prudency determinations and fund administrator approvals remain pending, so the ultimate cost allocation for Eaton is not yet resolved. Credit ratings are investment grade but under some pressure: S&P has BBB- Negative outlooks at both SCE and EIX, while Moody's (Baa1/Baa2) and Fitch (BBB) are Stable. The company targets an EIX FFO-to-debt ratio of 15–17%. Dividend growth is ongoing, with 22 consecutive years of increases and a target payout of 45–55% of SCE core earnings. The presentation is a forward-looking management update rather than a material event disclosure, and its projections are subject to regulatory outcomes, wildfire liability developments, and the risk factors listed in the filing.
  4. 8-KEdison International 8-K Report, Financial Results (Jul 30, 2026)Edison International (EIX) reported second-quarter 2026 GAAP EPS of $1.39 (net income of $534 million) and core EPS of $1.54, up from $0.97 in the second quarter of 2025. The year-over-year improvement was driven mainly by SCE's 2025 GRC final decision, which was adopted in the third quarter of 2025, along with lower preferred stock dividends at the parent. Year-to-date core EPS is $2.97 versus $2.34 a year earlier. Management reaffirmed 2026 core EPS guidance of $5.90-$6.20 and its 5-7% core EPS CAGR outlook for 2025-2030, and it provided a 2027 core EPS guidance range of $6.25-$6.65. GAAP basic EPS guidance was lowered to $5.70-$6.00 from $5.86-$6.16, reflecting roughly $0.20 per share of non-core items recorded in the first half of 2026, mostly Trio disposition losses and wildfire-related items. The filing also highlights several balance sheet and financing developments. SCE completed a roughly $2 billion Woolsey Fire cost recovery securitization shortly before the report, with proceeds to be used to recover claims and retire related debt. Management says the company expects no equity issuance from 2026 through 2030. The Eaton Fire remains the key open risk: EIX said it cannot currently estimate potential losses, while noting that SCE has identified funding sources for claims resolution. Wildfire Recovery Compensation Program offers have reached more than $775 million, and SCE says it believes its equipment was likely associated with the ignition of the Eaton Fire, though causation has not been conclusively determined. The bigger near-term swing factor for investors is California wildfire legislation. Management said the outcome is uncertain and could affect SCE's cost of capital and future investment prioritization. SCE has also filed its RAMP application ahead of the next GRC, which covers 2029-2032 with preliminary estimates of about 450 miles of covered conductor and about 190 miles of targeted undergrounding. Management characterizes its wildfire mitigation approach as increasingly location-specific and consequence-informed. Rate base growth is projected at about 7% CAGR, and the five-year capital plan is roughly $38-$41 billion.
  5. 8-KEdison International 8-K Report, Corporate Update (May 5, 2026)Edison International (EIX) has announced a significant financing event through the sale of $500 million in 5.00% Senior Notes due in 2028. This offering represents a strategic move by the company to secure long-term debt financing. Investors should note that the details of these notes are further elaborated in the exhibits attached to this 8-K filing, which are crucial for a comprehensive understanding of the terms, covenants, and potential impact on the company's financial structure.
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04—See also

Related Companies

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