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:
Active-Investors.com is currently working on the research report for Atlantic Power Corporation (NYSE: AT), which also belongs to the Utilities sector as the Company Edison. Do not miss out and become a member today for free to access this upcoming report at:
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.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.