EIX FY2026 Q2 In line

Edison International earnings call

Jul 30, 2026 · 16:30 ET Aaron MossPedro PizarroSam Ramraj earningscall_biz

Buzzberg read

Reaffirmed 2026 EPS guidance and 5-7% long-term growth

Edison International reported strong Q2 2026 results but reaffirmed its full-year EPS guidance, indicating a steady business performance. The primary focus of the call was on the pending legislative session in Sacramento regarding wildfire liability reform, emphasizing its importance for maintaining affordable capital and future investment. Management detailed its comprehensive wildfire mitigation plan, including new RAMP application figures, and discussed ongoing progress with the Wildfire Recovery Compensation Program. Q2 2026 core EPS came in at $1.54, benefiting from GRC decision timing and lower interest expense, but full-year guidance of $5.90-$6.20 was reaffirmed.

Buzzberg read Reaffirmed 2026 EPS guidance and 5-7% long-term growth Edison International reported strong Q2 2026 results but reaffirmed its full-year EPS guidance, indicating a steady business performance. The primary focus of the call was on the pending legislative session in Sacramento regarding wildfire liability reform, emphasizing its importance for maintaining affordable capital and future investment. Management detailed its comprehensive wildfire mitigation plan, including new RAMP application figures, and discussed ongoing progress with the Wildfire Recovery Compensation Program. Q2 2026 core EPS came in at $1.54, benefiting from GRC decision timing and lower interest expense, but full-year guidance of $5.90-$6.20 was reaffirmed. Read full analysisCollapse analysis

Management highlighted the critical nature of the legislative session for wildfire liability reform, warning that inaction could lead to credit downgrades and higher customer costs.
SCE's RAMP application proposes 450 miles of covered conductor and 190 miles of undergrounding for the 2029-2032 period, indicative of continued large-scale grid hardening.
The Wildfire Recovery Compensation Program (WRCP) is progressing, with over 2,200 offers extended, but it remains too early to use the data to estimate total liability.

Revenue$4.357B+6% QoQ

EPS$1.54+8% QoQ

Gross margin49.32%Reported

Operating margin25.06%Reported

6 grounded callouts

What matters now

The highest-signal changes from the call.

Guidance

Reaffirmed 2026 EPS guidance and 5-7% long-term growth

Capex

Wildfire reform outcome could influence future capital deployment

AI expected to accelerate design cycles by 20-30%

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Wildfire Mitigation

SCE has hardened about 90% of high-fire-risk distribution lines

Wildfire

Wildfire Fund reimbursement crossing $1 billion threshold

Capex

SCE filed RAMP application with $2.5 billion in mitigations

Reported period

Actuals

Metric	Reported	Change
Revenue	$4.357B	+6% QoQ
EPS	$1.54	+8% QoQ
Gross margin	49.32%	Reported
Operating margin	25.06%	Reported
Free cash flow	$-0.576B	Reported
Capex	$1.846B	Reported

Forward-looking

Forward guidance

Metric	Period	Range	Midpoint	Status
EPS	FY2026	$5.90–$6.20	$6.05	Maintained

AI, capex & demand read

Management read

Tone

Measured

Management expressed confidence in reaffirming guidance and highlighted operational progress, while acknowledging legislative uncertainty and potential financing cost impacts, maintaining a cautious but optimistic tone.

Management AI read

Management highlighted AI as a key enabler of operational transformation, with targeted applications to improve productivity, quality, and decision-making across grid planning, operations, and wildfire mitigation. Specific use cases include automating initial design generation and validation, and streamlining permit processing, expected to accelerate design cycles by 20-30% and reduce permit cycle

Capex

Investment and capacity

SCE maintains a sizable capital plan supported by a constructive regulatory framework, with rate-based growth of about 7%. The latest RAMP filing (2029-2032) proposes continued grid hardening with about 450 miles of covered conductor and 190 miles of targeted undergrounding, with capital in that cycle tied to the 2029 forecast of $8-9 billion.

all 2 named companies below

Companiesreturns since call

Supply chain

MCO +0.3%

Supply chain

Management cites Moody's independent analysis to frame wildfire risk as a broad economic issue for California, not just a utility problem.

Evidence

“Moody's recently highlighted that the implications extend beyond utilities. They note that wildfire-related costs can affect electricity rates, affordability, and California's broader economic competitiveness.”

Pedro Pizarro

SPGI -0.1%

Supply chain

Management references S&P's view to underline that the credit and economic impact of wildfire risk is wider than the utility sector.

Evidence

“SNP has also observed that wildfire-related financial risks increasingly extend beyond investor-owned utilities to public utilities, local governments, insurers, and the communities they serve.”

Pedro Pizarro

External signals

Supply-chain alpha · 1returns since call

SCE's upcoming GRC (2029-2032) will likely be significantly larger, with the RAMP application proposing $2.5B in mitigation, which is slightly more than a third of the anticipated total GRC request.

Aaron Moss

EIX-11.3%

Evidence

“So this time around, it's about $2.5 billion. I'd say maybe slightly more than a third would be the translation. So it ties in the level of spending that we have here ties in with the $8 to $9 billion of CapEx that we have in our 2029 capi…”

Methodology & coverage

Management-only analysis. All 2 validated company mentions are shown. Reported actuals and forward guidance are kept separate. Public evidence is limited to eight short attributed quotes. AI-generated analysis can be incomplete or wrong; verify important claims against the original source.