Research · Sep 3, 2026
[EIX] Edison International Thesis 2026: Wildfire Liability Fund Frames Next Regulatory Chapter
Edison International FY25 revenue $19.32B (+10%); op income $7.09B (+142%); NI $4.56B; EPS $11.55. Core EPS $6.55 (above guide). 2025 General Rate Case authorized $9.7B base revenue + investments in wildfire mitigation. SB 254 created up to $18B wildfire continuation account for fires ignited after Sept 19, 2025. TKM settlement $1.6B + Woolsey $2B securitization in process. 6,800+ miles covered conductor deployed. FY26 core EPS guidance $5.90-$6.20; FY27 $6.25-$6.65; 5-7% LT EPS growth extended to 2030; no equity needs through 2030; $28-29B 4-year capital plan.