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Edison International
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Latest analysis
Updated Oct 30, 2026
Edison International reaffirms 2026-2028 Core EPS guidance and $38-41B capex plan as wildfire reform stalls in Sacramento and Eaton Fire losses remain unquantifiable.
Edison International's October 2026 business update reaffirms a five-year, $38-41 billion capital program targeting ~7% rate base CAGR through 2030, with Core EPS guidance of $5.90-6.20 for 2026 rising to $6.74-7.14 by 2028. The single largest unresolved risk is the Eaton Fire: total settlements entered stand at $1.8 billion, yet Edison explicitly states it cannot reasonably estimate the full range of losses, while durable wildfire liability reform failed to pass in California's regular legislative session. Without structural wildfire reform, elevated credit spreads are already adding cost to customer bills and constraining the investment capacity that underpins the entire growth thesis.
Tone: mixedRevenue
$19.3B
EIX 10-K · FY 2025
Employees
13,725
Revenue FY2024
$17.6B
Founded
1987
Profile
EIX 10-K Item 1 · Feb 18, 2026Edison International is the parent holding company of Southern California Edison Company (SCE), an investor-owned electric utility serving approximately 5 million customers across a 50,000 square mile area of Southern, Central, and Coastal California. The company also owns Trio (Edison Energy, LLC), a global energy advisory firm providing sustainability and energy solutions to commercial, industrial, and institutional customers. SCE is Edison International's single reportable business segment.
Read filing description ↓ Collapse description ↑
Edison International was incorporated in 1987 as the parent holding company of SCE, a California public utility incorporated in 1909. Edison International also owns Trio, a global energy advisory firm providing integrated sustainability and energy solutions to commercial, industrial and institutional customers. SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity through SCE's electrical infrastructure to an approximately 50,000 square-mile area of southern California. SCE serves approximately 5 million customers in its service area. CPUC and FERC rates decouple authorized revenue from the volume of electricity sales and the price of energy procured so that SCE has the opportunity to receive revenue equal to amounts authorized by the relevant regulatory agencies. Edison International's vision is to lead the transformation of the electric power industry and the company is focused on opportunities in delivering clean energy, advancing electrification, building a modernized and more reliable grid, and enabling customers' technology choices. The electric power industry is undergoing urgent and fundamental changes in how energy infrastructure is planned and built, driven by new sources of demand, such as electric vehicles, data centers, and building electrification; technological innovations that support clean energy adoption, such as distributed generation and energy storage; and government actions to reduce GHG emissions. SCE projects electricity demand to nearly double between 2025 and 2045, driven by transportation electrification, new residential housing, and increases in commercial and industrial consumption.
Primary products
- Electric utility distribution and transmission
- Electricity supply and delivery
- Integrated sustainability and energy solutions (Trio)
- Energy advisory services (Trio)
- Wildfire mitigation and grid hardening services
- Utility-owned energy storage
Business segments
End markets
Geographies
Named customers
Named competitors
“SCE faces retail competition in the sale of electricity to the extent that federal and California laws permit other sources to provide electricity and related services to retail customers within SCE's service area.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Operating revenue increased $1,718 million in 2025 compared to 2024, primarily driven by higher revenue from the 2025 GRC final decision and higher pass-through expenses recovered in rates.
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