Quarterly ResultApr 28, 2026, 04:15 PM
SCE-PG Q1 Net Income $619M, down $948M; Eaton Fire Losses $1.3B
AI Summary
SOUTHERN CALIFORNIA EDISON Co (SCE-PG) reported Q1 2026 net income available to common stock of $619 million, a decrease of $948 million from Q1 2025, primarily due to lower wildfire-related recoveries. Operating revenue increased by $294 million to $4,096 million. The company recorded $1.3 billion in losses related to Eaton Fire settlements as of March 31, 2026, with expected recoveries from self-insurance, the Wildfire Fund, and FERC rates. SCE's 2026-2028 Wildfire Mitigation Plan was approved, and its safety certification was issued.
Key Highlights
- SCE Q1 2026 net income available to common stock: $619M, down $948M YoY.
- Edison International Q1 2026 net income: $531M, down $905M YoY.
- SCE Q1 2026 operating revenue: $4,096M, up $294M YoY.
- Eaton Fire losses recorded as of March 31, 2026: $1.3B.
- Eaton Fire expected recoveries: $917M self-insurance, $295M Wildfire Fund, $70M FERC rates.
- SCE Q1 2026 wildfire-related claims, net of recoveries: -$3M vs -$1,355M in Q1 2025.
- Q1 2026 total capital expenditures: $1.5B.
- SCE's 2026-2028 Wildfire Mitigation Plan approved.