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EIX » Topics » Edison International Reports 2007 Second Quarter Earnings

This excerpt taken from the EIX 8-K filed Aug 9, 2007.

Edison International Reports 2007 Second Quarter Earnings

 

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Second quarter 2007 basic earnings per common share were $0.29, down $0.25 per share from the second quarter of 2006, primarily from non-core items, including a second quarter 2007 charge for early debt extinguishment at the independent power business.

 

 

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Second quarter core earnings1 grew 33% to $0.73 per share primarily due to improved margins at the independent power business.

 

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Year-to-date basic earnings per common share were $1.29, down 2% from the prior period, while core earnings were $1.63 per share, up 48% from the prior year period, driven by higher energy margins in the independent power business and solid results at the utility.

 

 

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2007 total earnings guidance is increased to $2.90 – $3.25 per share, and 2007 core earnings guidance1 is increased to $3.24 – $3.59 per share.

 

Edison International Financial Highlights     
     Quarter Ended
June 30,		    Change  
(In millions, except per share data)    2007    2006    $     %  

Basic earnings per common share

    $ 0.29    $ 0.54    $ (0.25 )   (46 %)

Core earnings per common share

    $ 0.73    $ 0.55    $ 0.18     33 %

Net income

    $ 93    $ 177    $ (84 )   (47 %)

Net cash provided by operating activities

    $ 526    $ 450    $ 76     17 %

Total assets

    $ 36,983    $ 35,151    $ 1,832     5 %
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