Edison International Q3 2026: core EPS $1.92 beats, wildfire reform stalls
Edison beat consensus on core EPS ($1.92 vs $1.8274) and reaffirmed 2026–2028 guidance, but the quarter is not what moves this stock. The real story is that California's regular legislative session ended without wildfire liability reform, and SCE still cannot estimate a loss range for the Eaton Fire. Read the numbers first, then the regulatory risk.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.87 and basic EPS $1.88, while core EPS came in at $1.92 against a $1.8274 consensus — a beat of about $0.09, or 5.1%. The comparison that matters more is year over year: core EPS fell $0.42 from $2.34, with SCE core EPS down $0.44 to $2.14. Higher income taxes added $0.18 and lower depreciation $0.09, but they could not offset the revenue drag.
Revenue was $4.89 billion, down 15.0% from $5.75 billion in the year-ago quarter. Management's own EPS bridge pins the drop on SCE operations, listing lower revenue as a $0.62 per-share drag and tying the shortfall to the timing of the 2025 GRC final decision rather than to weak demand. For a regulated utility, revenue is an outcome of rate case decisions, so treat this as a rate-case artifact, not a demand signal.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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