What's in Store for Edison International (EIX) Q2 Earnings?

Edison International EIX is set to release second-quarter 2020 results on Jul 28, after market close.

In the last reported quarter, the company delivered a negative earnings surprise of 18.18%.

In the trailing four quarters, the company came up with an earnings surprise of 2.95%, on average.

Let's take a closer look at the factors influencing Edison International’s upcoming results.

Factors at Play

During the most part of the second quarter, major parts of California experienced above-average temperatures, highlighted by dry and warm weather conditions. This is likely to have resulted in higher electricity demand leading to increased household expenditure on cooling, which is likely to have boosted Edison International’s top line in the second quarter. In line with this, the Zacks Consensus Estimate for second-quarter revenues of $3.02 billion indicates a rise of 7.3% from the year-ago quarter’s reported figure.

Toward the end of March, the company announced the suspension of service disconnections for non-payment and the waiving of late fees for residential and business customers affected by the COVID-19 outbreak.

Similarly, in the second quarter, the overall cost structure is expected to have escalated due to the prolonged economic impact of the COVID-19 pandemic on the company's operations. This might have had an adverse impact on the company’s performance during the soon-to-be-reported quarter.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for Edison International this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here as elaborated below.

Earnings ESP: Edison International has an Earnings ESP of -7.69%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company carries a Zacks Rank #3.  You can see the complete list of today’s Zacks #1 Rank stocks here.

Edison International Price and EPS Surprise

Edison International Price and EPS Surprise

Edison International price-eps-surprise | Edison International Quote

Stocks to Consider

Here are a few other players from the Utilities sector that have the right combination of elements to post an earnings beat this season.

NextEra Energy NEE has an Earnings ESP of +1.40% and a Zacks Rank #3. The company will announce second-quarter 2020 earnings on Jul 24.

The Southern Company SO has an Earnings ESP of +0.08% and a Zacks Rank #3. The company will announce second-quarter 2020 earnings on Jul 30.

CenterPoint Energy CNP has an Earnings ESP of +24.14% and a Zacks Rank #3. The company will announce second-quarter 2020 earnings on Aug 6.

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