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Edison International beats 4Q profit forecasts

ROSEMEAD, Calif. (AP) _ Edison International (EIX) on Tuesday reported fourth-quarter net income of $376 million, after reporting a loss in the same period a year earlier.

The Rosemead, California-based company said it had net income of $1.05 per share. Earnings, adjusted to account for discontinued operations, came to $1.01 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The electric power provider posted revenue of $2.88 billion in the period.

For the year, the company reported profit of $1.43 billion, or $3.97 per share. Revenue was reported as $11.87 billion.

Edison International expects full-year earnings in the range of $4.04 to $4.24 per share.

Edison International shares have climbed slightly more than 7 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 6 percent. In the final minutes of trading on Tuesday, shares hit $77.21, an increase of 21 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EIX at https://www.zacks.com/ap/EIX


Keywords: Edison International, Earnings Report