Edison (TG:EIX)
Historical Stock Chart
From Jan 2020 to Jan 2025
/FIRST AND FINAL ADD -- LAW061 -- Edison International Earnings -- Part II/
Edison International Reports Financial Results for the
Third Quarter of 2003 ? Part II
EDISON INTERNATIONAL
SUMMARY OF CONSOLIDATED EARNINGS
(UNAUDITED)
IN MILLIONS, EXCEPT PER-SHARE AMOUNTS
QUARTER ENDED SEPT. 30, YEAR TO DATE SEPT. 30,
-------------------------------------------------------------------------
2003 2002 2003 2002
-------------------------------------------------------------------------
ELECTRIC UTILITY $2,794 $2,713 $6,994 $6,754
NONUTILITY POWER GENERATION 1,014 954 2,412 2,164
FINANCIAL SERVICES AND OTHER 25 39 73 102
-------------------------------------------------------------------------
TOTAL OPERATING REVENUE 3,833 3,706 9,479 9,020
-------------------------------------------------------------------------
FUEL 386 354 1,013 890
PURCHASED POWER 1,013 780 2,187 1,615
PROVISIONS FOR REGULATORY
ADJUSTMENT CLAUSES ? NET 332 738 1,141 1,052
OTHER OPERATION AND MAINTENANCE 842 759 2,450 2,298
ASSET IMPAIRMENT ? 86 251 86
DEPRECIATION, DECOMMISSIONING
AND AMORTIZATION 286 256 826 759
PROPERTY AND OTHER TAXES 54 35 156 110
NET GAIN ON SALE OF UTILITY PLANT (5) (6) (5) (6)
-------------------------------------------------------------------------
TOTAL OPERATING EXPENSES 2,908 3,002 8,019 6,804
-------------------------------------------------------------------------
OPERATING INCOME 925 704 1,460 2,216
INTEREST AND DIVIDEND INCOME 21 48 114 226
EQUITY IN INCOME FROM PARTNERSHIPS
AND UNCONSOLIDATED
SUBSIDIARIES ? NET 158 113 278 207
OTHER NONOPERATING INCOME 19 8 73 32
INTEREST EXPENSE ? NET OF
AMOUNTS CAPITALIZED (315) (306) (904) (981)
OTHER NONOPERATING DEDUCTIONS (20) (19) (72) (52)
DIVIDENDS ON PREFERRED SECURITIES
SUBJECT TO MANDATORY REDEMPTION ? (27) (56) (83)
DIVIDENDS ON UTILITY PREFERRED
STOCK NOT SUBJECT TO MANDATORY
REDEMPTION (1) (1) (4) (4)
-------------------------------------------------------------------------
INCOME FROM CONTINUING OPERATIONS
BEFORE TAX 787 520 889 1,561
INCOME TAX 287 175 304 482
-------------------------------------------------------------------------
INCOME FROM CONTINUING OPERATIONS 500 345 585 1,079
INCOME FROM DISCONTINUED
OPERATIONS ? NET OF TAX 44 7 48 22
-------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE 544 352 633 1,101
CUMULATIVE EFFECT OF ACCOUNTING
CHANGE ? NET OF TAX ? ? (9) ?
-------------------------------------------------------------------------
NET INCOME $544 $352 $624 $1,101
WEIGHTED-AVERAGE SHARES OF COMMON
STOCK OUTSTANDING 326 326 326 326
BASIC EARNINGS PER SHARE:
CONTINUING OPERATIONS $1.53 $1.06 $1.80 $3.31
DISCONTINUED OPERATIONS 0.14 0.02 0.15 0.07
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE ? ? (0.03) ?
----- ----- ----- -----
TOTAL $1.67 $1.08 $1.92 $3.38
===== ===== ===== =====
WEIGHTED-AVERAGE SHARES, INCLUDING
EFFECT OF DILUTIVE SECURITIES 330 329 330 329
DILUTED EARNINGS PER SHARE:
CONTINUING OPERATIONS $1.52 $1.05 $1.77 $3.28
DISCONTINUED OPERATIONS 0.13 0.02 0.15 0.07
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE ? ? (0.03) ?
----- ----- ----- -----
TOTAL $1.65 $1.07 $1.89 $3.35
===== ===== ===== =====
DIVIDENDS DECLARED PER COMMON SHARE $- $- $- $-
EDISON INTERNATIONAL
Financial Overview
September 30, 2003
UNAUDITED
---------
Dollars in Millions, Except Per-Share Amounts
EDISON INTERNATIONAL (Consolidated Totals)
-----------------------------------------
Third Quarter Year-to-Date
------------- ------------
2003 2002 2003 2002
---- ---- ---- ----
Assets $35,622 $33,873 $35,622 $33,873
Common Equity $5,213 $4,417 $5,213 $4,417
Revenue* $3,833 $3,706 $9,479 $9,020
Earnings** $544 $352 $624 $1,101
Earnings Per Share** $1.67 $1.08 $1.92 $3.38
Book Value Per Share $16.00 $13.56 $16.00 $13.56
*excludes discontinued operations
**includes parent company and discontinued operations
SOUTHERN CALIFORNIA EDISON (Electric Utility)
--------------------------------------------
Third Quarter Year-to-Date
------------- ------------
2003 2002 2003 2002
---- ---- ---- ----
Assets $20,322 $19,356 $20,322 $19,356
Common Equity $5,092 $4,238 $5,092 $4,238
Revenue $2,794 $2,713 $6,994 $6,754
Earnings $374 $234 $700 $1,075
Earnings Per Share $1.15 $0.72 $2.15 $3.30
EDISON MISSION ENERGY (Nonutility Power Generation)
--------------------------------------------------
Third Quarter Year-to-Date
------------- ------------
2003 2002 2003 2002
---- ---- ---- ----
Assets $11,878 $11,092 $11,878 $11,092
Common Equity* $1,849 $1,693 $1,849 $1,693
Revenue** $1,014 $954 $2,412 $2,164
Earnings (Loss) $200 $149 $17 $116
Earnings (Loss)
Per Share $0.61 $0.46 $0.05 $0.36
*includes discontinued operations in 2002 only
**excludes discontinued operations
EDISON CAPITAL (Capital and Financial Services Provider)
-------------------------------------------------------
Third Quarter Year-to-Date
------------- ------------
2003 2002 2003 2002
---- ---- ---- ----
Assets $3,543 $3,694 $3,543 $3,694
Common Equity $824 $807 $824 $807
Revenue $22 $35 $65 $81
Earnings $14 $27 $41 $58
Earnings Per Share $0.04 $0.08 $0.13 $0.18
SOUTHERN CALIFORNIA EDISON
kWh Sales (In thousands)
September 30, 2003
QUARTER ENDED SEPTEMBER 30, 2003
--------------------------------
INCREASE/(DECREASE)
FROM
KwH LAST YEAR %
----------------------------------------
RESIDENTIAL 8,653,763 1,161,606 15.50
AGRICULTURAL 408,013 (29,107) (6.66)
COMMERCIAL 10,504,257 580,870 5.85
INDUSTRIAL 2,778,945 (172,165) (5.83)
PUBLIC AUTHORITIES 1,698,502 (664) (0.04)
RAILROADS & RAILWAYS 15,653 (247) (1.55)
INTERDEPARTMENTAL 142 52 57.78
SALES TO ULTIMATE CONSUMERS 24,059,275 1,540,345 6.84
-------------------------
RESALE SALES 3,193,176 3,167,068 *
-------------------------
TOTAL KWH SALES 27,252,451 4,707,413 20.88
=========================
*over 200%
NINE MONTHS ENDED SEPTEMBER 30, 2003
INCREASE/(DECREASE)
FROM
KwH LAST YEAR %
----------------------------------------
RESIDENTIAL 26,546,508 1,495,398 5.97
AGRICULTURAL 1,075,673 (110,473) (9.31)
COMMERCIAL 36,598,161 1,383,599 3.93
INDUSTRIAL 10,935,753 (750,956) (6.43)
PUBLIC AUTHORITIES 6,061,984 (49,954) (0.82)
RAILROADS & RAILWAYS 61,821 820 1.34
INTERDEPARTMENTAL 378 78 26.00
SALES TO ULTIMATE CONSUMERS 81,280,278 1,968,512 2.48
-------------------------
RESALE SALES 7,831,085 7,804,001 *
TOTAL KWH SALES 89,111,363 9,772,513 12.32
=========================
*over 200%
END FIRST AND FINAL ADD
DATASOURCE: Edison International
CONTACT: Edison International, +1-626-302-1033
Web site: http://www.edison.com/