Edison International · NYSE:EIX
Edison International — Q3 2007 Earnings Presentation
16 slides from Edison International's earnings presentation, Nov 2, 2007
Slide 1: Third Quarter 2007 Financial Teleconference
Third Quarter November EDISON INTERNATIONAL® 2, 2007 2007 Financial Teleconference
Slide 2: Forward-Looking Statements
Forward-Looking Statements not differ International’s represent 1 purely EDISON materially our historical, contained expectations 2006 from Statements Form are in INTERNATIONAL®current this forward-looking 10-K only presentation expectations. as and ofsubsequent the date about statements. Important
Slide 3: Third Quarter Earnings Summary
Third GAAP Basic $1.40 Net Core1 ($ $465 EPS 3Q 1 and 2 See millions) 07 Income other EDISON$436 slide Quarter EPS $1.38 3QINTERNATIONAL® non-core 06 $1.41 3$461 for Earnings reconciliation $1.32 $458 items. Summary of core earnings to reported earnings. Core earnings is defined as GAAP earnings les
Slide 4: Third Quarter Reconciliation of EIX Core Earnings
Third Reconciliation EIX EMG(0.01)(0.01) Total Basic Diluted Core Midwest Homer No Income Corporate Primarily Edison Lower Non-Core SCE EMG 1 ended 3 See change Holding EDISON$Earnings Benefit EPS1 Non-Core(0.01) use Quarter EPS 0.64 Discontinued September –0.80 results City Capital from EPS $Genera
Slide 5: Year-to-Date Earnings Summary
EDISON Year-to-Date GAAP Basic $2.69 4 Net Core1 ($ $3.04 EPS YTD 1 and See EPS $2.71 INTERNATIONAL® millions) Income other 07 slide $2.43 YTD $887 Earnings non-core$893 5$1,003 for Summary 06reconciliation items. $800 of core earnings to reported earnings. Core earnings is defined as GAAP earnings
Slide 6: Year-to-Date Reconciliation of EIX Core Earnings
Year-to-Date Reconciliation EIX Total EMG(0.45)(0.04)(0.41) Basic Diluted Core Midwest Mainly Homer Primarily partially Income Edison Gains Corporate 0.04 Higher Non-Core SCE issue EMG and 1 September 5 See(Holding EDISONYTD $Earnings EPS1 involving $0.01) Non-Core(0.35) YTD use EPS 1.41 on 1.70 0.1
Slide 7: Midwest Generation YTD Operating Statistics
Midwest Generation YTD Operating Total Equivalent Capacity Load Forced 1 2 6 07YTD All-in 3Q Generation Factor 07 Average EDISON Outage Includes vs. Generation and Factor Statistics Availability up YTD 80.1 Load Average Average average 3Q about realized 06 YTDRate 63.0 the (GWh) %06 Factors 07 71.2
Slide 8: Homer City Generation YTD Operating Statistics
Homer Generation 2006 YTD Operating Total Equivalent Capacity Load Forced 1 2 7 07Availability All-in 3Q YTD Generation Factor 07 Average EDISON City Outage Includes vs. Factor Statistics Availability up YTD –92.8 Average average 3Q Operating about realized 06 Rate YTD82.6 the (GWh) % and 0607 92.1
Slide 9: EMG Energy Hedge Status
EMG Status Energy Megawatt Load Estimated Homer Total Average Coal 1 the affect 2 Midwest per 8 The time MWh EDISONunder estimated Requirement Hedge retail amount average atCity Only of Price price September Generation represents hours GWh1 day contract loads Program Contracts of ($/MWh) ($ price an
Slide 10: EMG Status Megawatts and Capacity Sales
EMG Status Megawatts INSTALLED Less: NET Fixed —Net ·Variable -—Capacity TOTAL AVERAGE 1 2 3Third RPM Non-unit Price Expected 2007. 9 E CAPACITY Net Capacity Price Actual DISON Capacity at Auction per Party Load CAPACITY Capacity September capacity Specific MW-day price Homerexcept — Capacity PRICE
Slide 11: 2007 Earnings Guidance Reconciliation Reaffirmed
Earnings Reconciliation 2007 reaffirmed Core Non-Core Southern Edison Total EIX 1 2 EDISON 10Seebasic 2007 parent core EPS1 Guidance Non-Core use non-core Mission Guidance California earnings INTERNATIONAL® of earnings Items2 as company ofNon-GAAP 11/02/07 ofGroup(0.44) Group Items(0.34) items Core
Slide 12: Appendix
EDISON INTERNATIONAL® 11 Appendix
Slide 13: EMG 3Q Comparative Operating Information
EMG 3Q Midwest Total Energy Load Homer Generation Equivalent Performance Forced Pricing Average Flat (PJM EDISON 12 07 Energy 8,413 Requirement West Comparative 3Q City Outage Only Information Realized Cost Generation INTERNATIONAL® 06 Availability Hub—HC (in 8,429(16) Price—Nihub Price—PJM Price—HC
Slide 14: EMG Wind Projects Pipeline Portfolio
Nebraska Wyoming Nevada Utah Oklahoma Iowa Minnesota Illinois Wisconsin Maine Pennsylvania New Maryland West Pipeline Texas EMG In-Service MW Construction Development Turbines ~3,000 1 13 EDISONYork Mexico Virginia Wind MW Data 315 89 420 100 54 130 80 345 (not 90 145 75 161 471 MW Projects Portfoli
Slide 15: EMG Available Sources of Liquidity
EMG Available Sources EME MWG Cash Total $1.1 1 EDISON 14Excludes billion & $Revolver –Revolver 3,149 Liquidity Short ($INTERNATIONAL® Liquidity Millions) $73 of$term credit $2,522 million 495 473 Profile investments1 facilities 497 12/31/06 $ 508 and $109between 9/30/07 2,181 million MWG 1,517 of c
Slide 16: Use of Non-GAAP Financial Measures
Use Edison and accurately EPS share. securities principal operating A referenced EDISON 15reconciliation Exchange EPS of byNon-GAAP International’s principal by operating INTERNATIONAL® subsidiary (vested compare inprincipal the Commission. of presentation. operating stock Non-GAAP subsidiary’s Fina