Morning Briefing - February 24, 2016
Visit Archives | Return to Issue
PDF
Morning Briefing
Article 3 of 8
February 24, 2016

Southern California Edison 4Q Earnings Drop

By ExchangeMonitor

Southern California Edison’s fourth-quarter 2015 core earnings decreased by $66 million, or 20 cents per share, from the same period in 2014, parent company Edison International said Tuesday.

In the earnings report, Edison said the SCE decrease stemmed mainly from lower authorized California Public Utilities Commission (CPUC) revenue tied to implementation of the 2015 CPUC General Rate Case (GRC) decision, along with higher income taxes, which were partially offset by lower operation and maintenance costs. The company said the report excluded SCE income of $24 million related to the impact anticipated from the revised San Onofre Nuclear Generating Station settlement agreement, as well as $41 million in revenue related to discontinued operations at the plant.

Edison International’s quarterly core earnings of $287 million, $0.88 per share, were down from $355 million,  $1.08 per share, year over year.

“Our results are well ahead of earnings guidance and reflect SCE’s strong rate base growth and continued focus on operational excellence,” Edison International Chairman and CEO Ted Craver said in a press release. “With the potential for continued long-term growth and productivity improvements at SCE along with continued development of Edison Energy Group’s businesses, Edison International is well-positioned in a rapidly changing industry.”

For the year, SCE core earnings decreased by $157 million, or 48 cents per share, from 2014. The report said the decrease related to lower CPUC-related revenue from the 2015 GRC decision.

Comments are closed.

Partner Content
Social Feed

NEW: Via public records request, I’ve been able to confirm reporting today that a warrant has been issued for DOE deputy asst. secretary of spent fuel and waste disposition Sam Brinton for another luggage theft, this time at Las Vegas’s Harry Reid airport. (cc: @EMPublications)

DOE spent fuel lead Brinton accused of second luggage theft.



by @BenjaminSWeiss, confirming today's reports with warrant from Las Vegas Metro PD.

Waste has been Emplaced! 🚮

We have finally begun emplacing defense-related transuranic (TRU) waste in Panel 8 of #WIPP.

Read more about the waste emplacement here: https://wipp.energy.gov/wipp_news_20221123-2.asp

Load More