The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Edison International beat expectations on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Edison International reported revenue of $4.07 billion. The four analysts polled by S&P Capital IQ predicted net sales of $3.64 billion on the same basis. GAAP reported sales were 2.2% higher than the prior-year quarter's $3.98 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 $0.72. The 11 earnings estimates compiled by S&P Capital IQ forecast $1.08 per share. GAAP EPS of $0.58 for Q3 were 55% lower than the prior-year quarter's $1.30 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 25.5%, 580 basis points worse than the prior-year quarter. Operating margin was 14.0%, 630 basis points worse than the prior-year quarter. Net margin was 4.7%, 600 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.45 billion. On the bottom line, the average EPS estimate is $0.73.
Next year's average estimate for revenue is $12.67 billion. The average EPS estimate is $2.48.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 296 members out of 314 rating the stock outperform, and 18 members rating it underperform. Among 100 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 99 give Edison International a green thumbs-up, and one 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 $49.18.
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