Edison International : Free Post Earnings Research Report: Edison International’s EPS Advanced 12.6%
Stock Monitor: Atlantic Power Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 06, 2017 / Active-Investors free earnings report on Edison International (NYSE: EIX) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=EIX. The Company posted its financial results on October 30, 2017, for the third quarter fiscal 2017. The public utility holding Company's EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Edison International most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
Earnings Highlights and Summary
For three months ended September 30, 2017, Edison's operating revenue decreased 2.5% to $3.67 billion from $3.77 billion in Q3 FY16. Operating revenue was below analysts' expectations of $3.79 billion.
In the first nine months of 2017, the Company's operating revenue increased 1.3% to $9.10 billion from $8.99 billion in the same period last year.
For the reported quarter, the Company's total operating expenses increased 1.3% to $3.11 billion from $3.07 billion in Q3 FY16. The increase was due to higher purchased power and fuel expenses, depreciation and amortization expenses, and property and other taxes.
During Q3 FY17, Edison's operating income decreased 19.3% to $561 million from $695 million in the same period last year. During Q3 FY17, the Company's operating margin decreased 310 basis points to 15.3% of revenue from 18.4% of revenue in the same period last year.
For the reported quarter, Edison's net income increased 11.6% to $470 million on a y-o-y basis from $421 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 12.6% to $1.43 on a y-o-y basis from $1.27 in the same period last year. Diluted EPS surpassed analysts' expectations of $1.33.
In the first nine months of 2017, the Company's net income increased 13% to $1.11 billion from $982 million in the same period last year. In the first nine months of 2017, the Company's diluted EPS increased 13.4% to $3.38 from $2.98 in the same period last year.
Edison's Segment Details
Southern California Edison's (SCE) - During Q3 FY17, Southern California Edison's segment's diluted EPS increased 6.7% to $1.43 from $1.34 in the same period last year. The increase was primarily due to the escalation mechanism set forth in the 2015 General Rate Case (GRC) decision.
Parent and Other - During Q3 FY17, Parent and Other segment's diluted EPS was positive $0.01 compared to negative diluted EPS of $0.05 in the same period last year. The improvement was due to higher income tax benefits resulting from net operating loss carry backs from the filing of the 2016 tax returns in 2017.
As on September 30, 2017, Edison's cash and cash equivalents increased 21.9% to $117 million from $96 million on December 31, 2016. For the reported quarter, the Company's long-term debt increased 14.4% to $11.64 billion from $10.18 billion in Q4 FY16.
For the reported quarter, the Company's net receivables increased 54.8% to $1.11 billion from $714 million in the fourth quarter of 2016. For the reported quarter, the Company's accounts payables decreased 17.7% to $1.10 billion from $1.34 billion in Q4 FY16.
In the first nine months of 2017, the Company's cash provided by operating activities increased 7.5% to $2.69 billion from $2.50 billion in the same period last year.
For FY17, the Company expects diluted EPS to be in the range of $4.27 to $4.37.
Stock Performance Snapshot
December 05, 2017 - At Tuesday's closing bell, Edison International's stock tumbled 12.78%, ending the trading session at $70.00.
Volume traded for the day: 17.09 million shares, which was above the 3-month average volume of 1.74 million shares.
Stock performance in the last twelve-month period ? up 0.37%
After yesterday's close, Edison International's market cap was at $22.85 billion.
Price to Earnings (P/E) ratio was at 15.99.
The stock has a dividend yield of 3.10%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry.
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