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Edison Pushes Past Estimate – Analyst Blog
Zacks Market Commentaries (November 6th, 2009) Writes:
Edison International's (EIX) adjusted EPS of $1.09 in the third quarter of fiscal 2009 pushed past the Zacks Consensus Estimate of $1.05 by 4 cents. However, adjusted EPS for the quarter fell short of the year-ago $1.46 EPS.
On a GAAP basis, the company reported quarterly EPS of $1.23, compared to $1.33 in the year-ago quarter. The discrepancy between GAAP and adjusted EPS were due to non-cash accounting benefit from the final regulatory approval to transfer its Mountainview power plant to utility rate base.
Edison's revenue fell 14.7% year-over-year to $3.7 billion from $4.3 billion. The downside was more prominent in electric utility revenue (83.7% of total revenues), which decreased 11.6% year-over-year. Competitive power generation revenues fell 27.2% to $592 million. Financial services and other revenues were only $7 million in the reported quarter from $14 million in the year-ago quarter.
Southern California Edison's (SCE) GAAP EPS in the reported quarter
...Tags for this Post:
California Public Utilities Commission, cent;, Edison International, Edison Mission Group;, Financial Services, gas-fired projects, general, Investing Lessons, Lehman Brothers, lower energy prices, Mountainview power plant, non-cash accounting benefit, Rate Case, Stocks to Watch, USD, Zacks Market Commentaries
California Public Utilities Commission, cent;, Edison International, Edison Mission Group;, Financial Services, gas-fired projects, general, Investing Lessons, Lehman Brothers, lower energy prices, Mountainview power plant, non-cash accounting benefit, Rate Case, Stocks to Watch, USD, Zacks Market Commentaries
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