Edison reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Edison announced earnings per share of $0.63 on revenue of $2.79B. Analysts polled by anticipated EPS of $0.82 on revenue of $3.1B. That with comparison to EPS of $0.63 on revenue of $2.82B in the same period a year before. Edison had reported EPS of $0.99 on revenue of $2.97B in the previous quarter. Analysts are expecting EPS of $1.16 and revenue of $2.98B in the upcoming quarter.
Edison shares are down 22% from the beginning of the year , still down 25.74% from its 52 week high of $78.93 set on February 11. They are under-performing the S&P 500 which is down 10.24% year to date.
Edison follows other major Utilities sector earnings this month
Edison's report follows an earnings beat by NextEra Energy on April 22, who reported EPS of $2.38 on revenue of $4.61B, compared to forecasts EPS of $2.27 on revenue of $4.64B.
Southern had beat expectations on Thursday with first quarter EPS of $0.78 on revenue of $5.02B, compared to forecast for EPS of $0.71 on revenue of $5.47B.
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