Edison International said Tuesday it recorded net income of $345 million, or $1.06 per share, for the fourth quarter of 2016, compared to a net loss of $79 million, or $0.24 per share, in the same period for 2015.
Based in Rosemead, Calif., Edison International is the parent company of Southern California Edison (SCE), majority owner of the closed San Onofre Nuclear Generating Station (SONGS). SCE’s fourth-quarter 2016 net income increased by $419 million from the same time frame in 2015, from a $79 million loss in 2015 to $345 million, the company said.
Edison recorded full-year earnings of $1.3 billion, or $4.02 per share, compared to $1 billion, or $3.13 per share, in 2015. SCE’s 2016 net income increased by $378 million, or $1.16 per share, from 2015.
“Edison International delivered excellent fourth quarter and full-year results at the high end of our guidance range, led by SCE’s strong operating performance,” Edison International President and CEO Pedro Pizarro said in a statement. “Additionally, we have introduced 2017 earnings guidance with the midpoint above consensus analyst estimates.”
The company reported basic and core earnings guidance of $4.04 to $4.24 per share for 2017.
