Edison International (EIX) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and Executive Vice President and Chief Financial Officer Maria Rigotti. Also on the call are other members of the management team. Materials supporting today's call are available at www.edisoninvestor.com. These include a form 10-Q, prepared remarks from Pedro and Maria, and the teleconference presentation. Tomorrow, we will distribute our regular business update presentation. During this call, we will make forward-looking statements about the outlook for Edison International and its subsidiaries. Actual results could differ materially from current expectations. Important factors that could cause different results are set forth in our SEC filings. Please read these carefully. The presentation includes certain outlook assumptions as well as reconciliation of non-GAAP measures to the nearest GAAP measure. During the question and answer session, please limit yourself to one question and one follow-up. I will now turn the call over to Pedro. Well, thank you, Sam, and good afternoon, everyone. Just three months have passed since the devastating wildfires, and all of us at Edison continue to keep everyone affected in our thoughts. We're working closely with state and county leaders and the communities of Altadena and Malibu to rebuild wildfire-impacted areas stronger than ever. I will share further updates in a minute after touching on our earnings headlines. Today, Edison International reported core earnings per share of $1.37 compared to $1.13 a year ago. However, this year-over-year comparison is not particularly meaningful because SCE has not received a decision in its 2025 general rate case. SCE recognized revenue from CPUC activities for both the first quarter of 2024 and 2025, largely based on 2024 authorized base revenue requirements, with 2025 adjusted for the low...