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Edison International 8-K Report, Regulation FD Disclosure (Oct 30, 2026)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed October 30, 2026
Period End
October 29, 2026
Security
EIX
In the 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. Leadership change8-K · Oct ’19Oct ’19
  2. Leadership change8-K · Dec ’21Dec ’21
  3. Material agreement8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 8-K filed October 30, 2026. Cited figures are marked; the original filing is the authoritative source.

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 $5.90a–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 billionb 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 billionc 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).

02—Key points

Key Highlights

  1. Core EPS guidance reaffirmed: EIX consolidated Core EPS of $5.90–6.20 (2026), $6.25–6.65 (2027) and $6.74–7.14 (2028); the presentation projects 5–7% Core EPS CAGR for 2026–2030.
  2. Capital plan of $38–41 billion for 2026–2030, with rate base growing from $50.8 billion (2025) to $66.1 billion (2030) on a weighted average basis, described as about 7% CAGR.
  3. Eaton Fire: total settlements of $1.8 billion entered into; expected recoveries recorded of $917 million (self-insurance), $859 million (Wildfire Fund) and $70 million (FERC rates); $207 million received from the Wildfire Fund to date; a loss range cannot yet be reasonably estimated.
  4. Wildfire reform stalled: the 2026 regular legislative session ended without reform; a CPUC report is due November 2 and the constitutional deadline to pass a bill is November 15, with efforts moving to 2027 absent action in 2026.
  5. Credit ratings: investment grade at SCE and EIX (Moody's Baa1/Baa2 Stable; S&P BBB- Negative; Fitch BBB/BBB Negative), with a stated target of 15–17% EIX long-term FFO-to-debt.
  6. Financing plan: $9–12 billion of incremental debt and $7–9 billion of dividends, with no equity issuance forecast through 2030; dividend payout target of 45–55% of SCE core earnings.
  7. Wildfire mitigation: 7,230+ miles of covered conductor and about 90% of High Fire Risk Area distribution hardened; up to 880 more miles planned through 2028 under the approved GRC.

03—Questions

Frequently Asked Questions

  1. What is EIX's Core EPS guidance for 2026–2028?

    The presentation reaffirms consolidated Core EPS guidance of $5.90–6.20 for 2026, $6.25–6.65 for 2027 and $6.74–7.14 for 2028, based on a share count of 385 million. It projects 5–7% Core EPS CAGR for 2026–2030 from a 2025 midpoint of $5.84.

  2. How much has SCE set aside or recovered for the Eaton Fire?

    The filing states total Eaton Fire settlements of $1.8 billion, with expected recoveries recorded of $917 million from self-insurance, $859 million from the Wildfire Fund and $70 million from FERC rates. Of the Wildfire Fund amount, $207 million has been received to date. Management says it cannot yet reasonably estimate a range of losses that may be incurred.

  3. What happens to wildfire liability reform now that the 2026 session ended without a bill?

    The presentation says durable reform remains necessary and that SCE supports reconvening the Legislature in a special session. Key dates are a November 2 CPUC report on the statewide impact of lacking structural reform and the November 15 constitutional deadline to pass a bill. If reform is not achieved in 2026, efforts would continue with the new Governor and Legislature in 2027.

  4. What is the capital investment and rate base outlook?

    SCE forecasts a capital expenditure plan of $38–41 billion for 2026–2030, with over 85% in the distribution grid. Weighted average rate base is projected to grow from $50.8 billion in 2025 to $66.1 billion in 2030, described as about 7% CAGR, and no equity issuance is forecast through 2030.

  5. How are the credit ratings positioned?

    As of October 28, 2026, SCE is rated Baa1 (Moody's, Stable), BBB- (S&P, Negative) and BBB (Fitch, Negative). EIX is rated Baa2 (Moody's, Stable), BBB- (S&P, Negative) and BBB (Fitch, Negative). Both remain investment grade, and the presentation targets a 15–17% EIX long-term FFO-to-debt ratio.

04—Continue

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