Edison International Reports Mixed Financial Results for Second Quarter and First Half of 2026

Edison International and its subsidiary, Southern California Edison Company (SCE), reported their financial results for the second quarter and first half of 2026, revealing a mixed performance compared to the same periods in 2025. For the three months ended June 30, 2026, Edison International's net income available to common shareholders was $534 million, a 56% increase from $343 million in the prior year. However, for the six months ended June 30, 2026, net income decreased to $1.065 billion from $1.779 billion in 2025, reflecting a decline of 40%. SCE's net income for the second quarter was $669 million, up from $476 million, while for the first half, it fell to $1.317 billion from $2.077 billion, a decrease of 37%.

The financial performance was influenced by several factors, including the adoption of the 2025 General Rate Case (GRC) final decision, which contributed to an increase in SCE's core earnings. SCE's core earnings for the second quarter rose by $198 million year-over-year, while the first half saw an increase of $213 million. However, the absence of significant non-core benefits, such as those seen in 2025 related to wildfire claims and settlements, negatively impacted overall profitability. The company recorded a non-core loss of $45 million in the first half of 2026, compared to a $916 million benefit in the same period of 2025.

Strategically, Edison International completed the disposition of Trio, a former indirect wholly-owned subsidiary, in the second quarter of 2026, resulting in a loss of $23 million. This move is part of the company's ongoing efforts to streamline operations and focus on core business areas. Additionally, SCE continues to implement its Wildfire Mitigation Plan (WMP) to reduce the risk of wildfires, which remains a significant concern in California due to climate change and increased urban development in high-risk areas.

Operationally, SCE's customer base remains stable, serving approximately 15 million customers across its service area. The company reported a total operating revenue of $4.348 billion for the second quarter of 2026, down from $4.532 billion in the same quarter of 2025. The decrease in revenue was primarily attributed to lower pass-through costs and a reduction in operation and maintenance expenses. SCE's capital expenditures for the first half of 2026 were $3.1 billion, consistent with the previous year, as the company continues to invest in infrastructure improvements and wildfire risk mitigation.

Looking ahead, Edison International and SCE remain cautious about the potential financial impacts of ongoing wildfire litigation, particularly related to the Eaton Fire, which has resulted in numerous lawsuits and significant financial liabilities. The company is actively pursuing settlements and expects to recover some costs through its customer-funded wildfire self-insurance program and the Wildfire Fund. However, uncertainties surrounding regulatory approvals and the outcomes of litigation could affect future financial performance. The management has indicated that they will continue to monitor these developments closely and adjust their strategies accordingly.