Edison International · NYSE:EIX
Edison International — Q1 2026 Earnings Presentation
19 slides from Edison International's earnings presentation, Apr 28, 2026
Slide 1: First-Quarter 2026 Financial Results
FIRST-QUARTER 2026 FINANCIAL RESULTS APRIL 28, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, are forward-looking statem
Slide 3: Key Messages
Key Messages 1 First-quarter performance reflects continued disciplined execution, steady operational progress, and clear focus $1.38 $1.42 on affordability and other priorities that matter most to Q1 2026 GAAP EPS Q1 2026 Core EPS1 our customers, communities, and capital providers Affirmed 2 Affirm
Slide 4: SB 254 study concludes California's wildfire problem is systemic and requires coordinated statewide solutions
SB 254 study concludes California’s wildfire problem is systemic and requires coordinated statewide solutions Whole of society framing Cost-of-inaction baseline Study comprehensively analyzes wildfire risk as Study quantifies cost of inaction as a baseline to the result of interacting forces that ca
Slide 5: First Quarter Earnings Summary
First Quarter Earnings Summary Q1 2026 Q1 2025 Variance Key SCE EPS Drivers Takeaways Higher revenue $ 0.52 Basic Earnings Per Share (EPS) Higher O&M (0.03) First-quarter 2026 Core EPS SCE $ 1.61 $ 4.07 $ (2.46) Higher depreciation (0.12) increased year over year, Higher property and other taxes (0.
Slide 6: Five-year capex plan of ~$38–$41 billion
Five-year capex plan of ~$38–$41 billion to strengthen reliability, resilience, and readiness to meet customer needs 2026–2030 Capital Expenditures Plan1 Forecast through 2030 includes: Capital Expenditures, $ in Billions • 2025 GRC approval • CAISO-awarded FERC transmission $9.0 $9.1 projects 1.1 1
Slide 7: Projected ~7% rate base growth driven by investments to enable customer-driven load growth
Projected ~7% rate base growth driven by investments to enable customer-driven load growth 2025–2030 SCE Rate Base Forecast through 2030 includes: Weighted Average Rate Base, $ in Billions • 2025 GRC approval ~7% CAGR • CAISO-awarded FERC transmission 2025–2030 projects • Advanced metering infrastru
Slide 8: EIX affirms 2026 and 2027 Core EPS guidance
EIX affirms 2026 Core EPS guidance of $5.90–6.20 and 2027 Core EPS guidance of $6.25–6.65 EIX 2026 and 2027 Core Earnings Per Share Guidance Ranges Providing 2027 outlook given visibility through GRC 2026 2027 cycle Guidance Guidance • Expected to be at high-end SCE EPS 6.81–7.07 7.20–7.53 of long-t
Slide 9: EIX reaffirms 2028 Core EPS guidance of $6.74–7.14
EIX reaffirms 2028 Core EPS guidance of $6.74–7.14, representing 5–7% growth from 20251 EIX 2028 Core Earnings Per Share Guidance Range 2028 Guidance SCE EPS 7.74–8.04 EIX Parent and Other EPS (1.00)–(0.90) EIX Consolidated Core EPS $6.74–7.14 Share Count (in millions) 385 1. Compound annual growth
Slide 10: EIX projects 5–7% Core EPS growth for 2025 to 2030, with no equity needs
EIX projects 5–7% Core EPS growth for 2025 to 2030, with no equity needs in financing plan Achievable EPS growth for 2030 2026–2030 EIX consolidated financing plan1 Core Earnings per Share Guidance $ in Billions $7.45–8.20 Dividends2 Incremental Debt3 5–7% $7–9 $9–12 $5.84 CAGR Net cash provided by
Slide 11: Rate base and EPS growth aligned with grid safety, reliability, and customer affordability
Rate base and EPS growth aligned with grid safety, reliability, and customer affordability 5–7% Core EPS CAGR1 Underpinned by strong rate base growth of ~7% 2025–2030 $38–41 billion 2026–2030 capital program ~5% 22 consecutive years of dividend growth current dividend yield2 Target dividend payout o
Slide 12: Additional Information
ADDITIONAL INFORMATION
Slide 13: Eaton Fire: Currently unable to estimate potential losses; SCE has clear sources for funding
Eaton Fire: Currently unable to estimate potential losses; SCE has clear sources for funding claims resolution1 Investigation Status2 Clear funding sources mitigate balance sheet While SCE has not conclusively determined causation, SCE is not exposure from claims resolution4 aware of evidence pointi
Slide 14: By end of 2027, SCE will have recovered $11+ billion of historical costs
By end of 2027, SCE will have recovered $11+ billion of historical costs, enhancing its balance sheet and credit metrics ~$3.2 billion remaining GRC and wildfire-related application recoveries2 ~$8.3 Expected annual rate recovery or securitization; $ in Millions $2.8 billion memo account recovery 20
Slide 15: 2026–2028 Modeling Considerations
2026–2028 Modeling Considerations Variable 2026 2027 2028 SCE Rate Base ($ billions) $50.8 $54.3–54.4 $57.7–58.1 Rate Base Mix (CPUC/FERC) 85% / 15% 85% / 15% 86% / 14% Authorized ROEs (CPUC/FERC) 10.03% / 10.30% 10.03% / 10.30% 10.03% / 10.30% Authorized Equity Ratios (CPUC/FERC) 52% / 47.5% 52% /
Slide 16: Earnings Non-GAAP Reconciliations
Earnings Non-GAAP Reconciliations Reconciliation of EIX GAAP Earnings to EIX Core Earnings Net Income (Loss) Available to Edison International, $ in Millions Q1 2026 Q1 2025 SCE $ 619 $ 1,567 EIX Parent & Other (88) (131) Basic Earnings $ 531 $ 1,436 Non-Core Items SCE Wildfire-related recoveries, n
Slide 17: EIX Core EPS Non-GAAP Reconciliations
EIX Core EPS Non-GAAP Reconciliations Reconciliation of EIX Basic Earnings Per Share to EIX Core Earnings Per Share EPS Available to Edison International1 Q1 2026 Q1 2025 Basic EPS $ 1.38 $ 3.73 Non-Core Items SCE Wildfire-related recoveries, net of claims and expenses 0.03 3.51 Wildfire Fund expens
Slide 18: Earnings Per Share Non-GAAP Reconciliations
Earnings Per Share Non-GAAP Reconciliations Reconciliation of EIX Basic Earnings Per Share Guidance to EIX Core Earnings Per Share Guidance 2026 EPS Available to Edison International Low High Basic EIX EPS $5.86 $6.16 Total Non-Core Items1 (0.04) (0.04) Core EIX EPS $5.90 $6.20 1. Non-core items are
Slide 19: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures Edison International's earnings and basic earnings per share (EPS) are prepared in accordance with generally accepted accounting principles used in the United States. Management uses core earnings and core EPS internally for financial planning and for analysis of p