Edison International Q3 Results Top Estimates; Boosts FY14 Earnings Outlook

(RTTNews) - Edison International (EIX) reported third quarter net income of $480 million or $1.47 per share, compared to $438 million or $1.34 per share for the year-ago quarter.

Excluding items, third quarter core earnings were $496 million or $1.52 per share, compared to $463 million or $1.42 per share in the third quarter of last year.

Operating revenue for the third quarter rose to $4.36 billion from $3.96 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.33 per share on revenue of $3.90 billion for the third quarter. Analysts' estimates typically exclude special items.

The company raised its 2014 earnings guidance to $4.41 to $4.51 per share and core earnings guidance to $4.25 to $4.35 per share. Previously, the company expected earnings of $3.24 to $3.44 per share and core earnings of $3.60 to $3.80 per share for the full year 2014. Analysts currently expect the company to earn $3.87 per share for the full year 2014.