Edison International Q4 FY2024 earnings call

• Acknowledged support for those impacted by Southern California wildfires, including 18 team members who lost homes. • Update on Eaton fire investigation: complex, ongoing, may take months; SCE believes it acted prudently. • SCE's progress in wildfire mitigation: over 6,400 miles of covered conductor, nearly 90% of distribution lines hardened in high fire risk areas. • Regulatory updates: CPUC approval of TKM settlement, Woolsey cost recovery proceeding underway with proposed filing schedule. • Financial results: 2024 core EPS $4.93 above guidance midpoint; 2025 EPS guidance revised; dividend declared. • New board member: Former U.S. Secretary of Energy Jennifer Granholm joins the board.

No detailed product segment financial performance provided in the transcript. Focus is on SCE's operations related to wildfires and overall financials.

• 2024 core EPS $4.93 exceeded midpoint of guidance. • Confident in meeting 2025 EPS guidance and achieving 5%-7% core EPS CAGR through 2028. • Revised 2025 core EPS guidance range, incorporating $0.44 from TKM settlement. • SCE's capital and rate base forecast awaits CPUC GRC decision; will refresh plans, financing, and guidance upon final decision. • Long-term outlook includes benefit from TKM settlement's interest expense reduction in 2028 EPS range.

• Uncertainty in Eaton fire investigation and potential liability; full investigation may take months. • Early stages of lawsuits and determining damages, timing unclear. • Regulatory and legislative uncertainties affecting financial stability, rate recovery, and wildfire fund utilization.

Q: Nick Campanella asks about the timing of damages from the Eaton fire and legislative solutions for wildfire issues.

A: Pedro Pizarro states it's too early to determine damages; timing of investigation and lawsuits is unclear. Discusses constructive policy conversations but early days for legislative solutions.

Q: Michael Lonegan inquires about steps to strengthen bonding process and GRC impact.

A: Pedro Pizarro and Steven Powell discuss immediate steps taken post-fire, confidence in SCE's prudency, and GRC proceeding continuing as planned.

Q: Paul Zimbardo asks about financing liabilities from fires and rating agencies' impact.

A: Maria Rigatti explains wildfire fund's role in financing claims, differentiating from pre-AB 1054 fires. Discusses rating agencies' focus on climate risk and ongoing cost of capital processes.

Q: Other questions cover investigation protocols, rating agency impact, cost of capital, and legislative solutions, with responses from Pedro Pizarro, Steven Powell, and Maria Rigatti addressing various aspects of wildfire impact and regulatory processes.