Headquartered in Rosemead, California, and established in 1886, Edison International primarily operates through its subsidiaries to produce and supply electrical power. This ...
Edison International, headquartered in Rosemead, California, is a major electric utility holding company with a rich history dating back to its founding on July 4, 1886. The company operates primarily through its principal subsidiary, Southern California Edison (SCE), which delivers electricity to a vast customer base of around 15 million ...Edison International, headquartered in Rosemead, California, is a major electric utility holding company with a rich history dating back to its founding on July 4, 1886. The company operates primarily through its principal subsidiary, Southern California Edison (SCE), which delivers electricity to a vast customer base of around 15 million people, including residential, commercial, industrial, governmental, and agricultural clients across a 50,000-square-mile service area in Southern, Central, and Coastal California. SCE's infrastructure includes a robust transmission network with lines ranging from 55 kV to 500 kV, numerous substations, approximately 39,000 circuit-miles of overhead cabling, roughly 31,000 circuit-miles of underground lines, and 800 distribution substations.
Beyond regulated utility operations, Edison International also provides unregulated energy services through its subsidiary Trio, offering customized energy solutions for commercial and industrial clients. The company is led by President and CEO Pedro J. Pizarro, who was elected CEO in October 2016. Edison International is committed to leading the transformation of the electric power industry toward a clean energy future, investing in grid modernization, renewable energy integration, and energy efficiency programs.
Financially, as of the most recent TTM data, the company has a market capitalization of approximately $26.4 billion, with a stock price around $68.57. Its revenue per share stands at $50.45, and it has an operating revenue of $17.599 billion for 2024. The company's profitability metrics show a net profit margin of about 19.8%, return on equity of 22.1%, and a dividend yield of approximately 5%. Edison International employs over 13,000 full-time employees, reflecting its scale of operations. The company's enterprise value is about $69.68 billion, with a price-to-earnings ratio of 7.05, indicating a relatively modest valuation relative to earnings. With a focus on innovation and sustainability, Edison International continues to expand its renewable energy portfolio and grid resilience, positioning itself as a key player in California's clean energy transition.
Operator: Good afternoon, and welcome to the Edison International second-quarter 2026 financial teleconference. My name is Michael, and I will be your operator today. When we get to the question-and-answer session, if you have a question, press 1 on your phone. This call is being recorded. I would now like to turn the call over to Sam Ramraj, Vice President of Investor Relations. Mr. Ramraj, you may begin your conference.
Sam Ramraj: Thank you, Michael, and welcome, everyone. Our speakers today are President and Chief Executive Officer, Pedro J. Pizarro and Executive Vice President, and chief financial officer Aaron D. Moss. Also on the call are other members of the management team. Materials supporting today's call are available at www.edisoninvestor.com. These include a Form 10-Q, prepared remarks from Pedro and Aaron, and the teleconference presentation. Tomorrow, we will distribute a regular business update presentation. During this call, we will make forward-looking statements about the outlook for Edison International and its subsidiaries. Actual results could differ materially from current expectations. Important factors that could cause different results are set forth in our SEC filings. Please read these carefully. The presentation includes certain outlook assumptions as well as reconciliation of non-GAAP measures to the nearest GAAP measure. During the question-and-answer session, please limit yourself to one question and one follow-up. I will now turn the call over to Pedro.
Pedro J. Pizarro: Thank you, Sam, and good afternoon, everyone. My comments today focus on three areas. A legislation update, our continued work to make communities safer and more resilient, including wildfire mitigation and recovery efforts, and our broader progress in supporting a reliable, affordable, and clean energy future. Starting with a brief comment on earnings, Edison International's second quarter 2026 core EPS was $1.04 bringing year-to-date core EPS to $2.97. With this strong start to the first half of the year, we are confident in reaffirming our 2026 core EPS guidance and other financial targets including our 5% to 7% core EPS growth over the long-term. Aaron will discuss our financial performance in his remarks. On the legislative front, we are actively engaged with the governor's office legislators, and key stakeholders on both wildfire reform and affordability. There is continued recognition that the current framework is placing increasing pressure on customers, communities, and the cost of financing the investments utilities are making to support California's climate goals. Consistent with the themes we have highlighted, discussions center on aligning risk, supporting affordability, and maintaining access to capital at a reasonable cost. But this is about more than utility finance. Moody's recently highlighted that the implications extend beyond utilities. They note that wildfire-related costs can affect electricity rates, affordability, and …