The 10-second takeaway
For the quarter ended March 31 (Q1), Edison International met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded significantly.
Margins increased across the board.
Edison International reported revenue of $2.63 billion. The four analysts polled by S&P Capital IQ anticipated a top line of $2.61 billion on the same basis. GAAP reported sales were 7.8% lower than the prior-year quarter's $2.86 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.77. The 15 earnings estimates compiled by S&P Capital IQ anticipated $0.66 per share. Non-GAAP EPS of $0.77 for Q1 were 120% higher than the prior-year quarter's $0.35 per share. GAAP EPS of $0.82 for Q1 were 193% higher than the prior-year quarter's $0.28 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 34.4%, 730 basis points better than the prior-year quarter. Operating margin was 18.7%, 760 basis points better than the prior-year quarter. Net margin was 10.3%, 700 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.70 billion. On the bottom line, the average EPS estimate is $0.65.
Next year's The average EPS estimate is $3.52.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 298 members out of 317 rating the stock outperform, and 19 members rating it underperform. Among 94 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 92 give Edison International a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Edison International is outperform, with an average price target of $51.41.
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