Electric utility Edison International (EIX) Tuesday reported first-quarter net income to
common shares of $271 million or $0.82 per share, compared to $93 million or $0.28 per
share last year.
Excluding items, core earnings for the quarter were $0.77 per share, compared to $0.54
per share a year ago, mainly due to the implementation of rates approved in Southern
California Edison's 2012 General Rate Case.
Revenues for the quarter were $2.63 billion, compared to $2.41 billion a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.66 per share on revenues of
$2.36 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal year 2013, the company reaffirmed its core earnings guidance of
$3.45 to $3.65 per share and updated its basic earnings guidance to a range of $3.51 to
$3.71 per share based on first quarter results.
Analysts currently expect earnings of $3.50 per share for the year.
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