Edison Slashes FY EPS After Wider Loss In Q3

(RTTNews) - The California-based electricity company, Edison International (EIX), reported a wider loss in the third quarter on Tuesday and the company slashed the earnings guidance for the full year. The company narrowed its full-year earnings outlook to $1.62 to $1.72 per share from a range of $4.21 to $4.41 per share in the prior guidance. On an adjusted basis, the company execs the earnings to come in the range of $4.42 to $4.52 per share for the quarter. In the previous projection, the range was $4.42 to $4.62 per share. On average, 18 analysts polled by Thomson Reuters projects earnings of $4.53 for the full year. Pedro J. Pizarro, president and CEO of Edison International. "Considering physical mitigation measures, operational practices, and the use of PSPs, SCE estimates that it has reduced the probability of losses from catastrophic wildfires by 55 to 65%, relative to pre-2018 levels."