Edison International

The transcript does not explicitly mention a current or expected order book or pending orders for Southern California Edison (SCE). However, related insights include: - SCE has filed an AMI 2.0 application in March for a ~$3.1 billion capital program through 2033 for smart meter replacement, representing a significant pending investment. - The company is engaged in a Risk Assessment and Mitigation Phase (RAMP) application next month to inform capital investments in wildfire risk, reliability, cybersecurity, and safety. - Ongoing commitments include grid hardening and resilience projects such as over 7,100 miles of covered conductor and 100 miles of undergrounding. - Regulatory clarity through 2028 is mentioned, with no new common equity planned for at least 5 years, underpinning financial stability. - Wildfire Recovery Compensation Program has made ~1,500 offers totaling over $500 million, indicating ongoing obligations. No discrete, quantifiable order book or pending contracts are detailed in the provided pages.

- Southern California Edison (SCE) plans to deliver growth without issuing new common equity for at least the next 5 years through 2030. - Over the past 5 years, SCE has issued only about $400 million of common equity, demonstrating cost-effective credit management. - The company intends to continue financing efficiently while maintaining a 15% to 17% FFO-to-debt framework. - SCE expects to remain within this financial metric range, supported by a strong balance sheet and cash flow profile. - This approach allows SCE to fund critical infrastructure investments and maintain financial flexibility without raising new equity in the near term. - No mention of new debt issuance was specifically highlighted, but their strong credit metrics and planned investments imply ongoing capital funding via existing financial frameworks.

- SCE has a capital plan of $38 billion to $41 billion from 2026 through 2030 focused on essential grid investments to support clean energy and customer needs. - Two significant stand-alone applications are underway: - NextGen ERP program (previously discussed). - AMI 2.0 application filed in March, requesting about $3.1 billion capital investment through 2033 for smart meter modernization. - Approximately half of AMI 2.0 capital is within the current capital forecast; the other half extends beyond 2030. - Upcoming RAMP application will outline risk mitigations guiding investments across wildfire risk, reliability, cybersecurity, climate adaptation, and safety. - Capital investments are executed with focus on affordability, cost discipline, and are evaluated using a risk-based framework. - No need for new equity issuance for at least 5 years through 2030, financing via strong credit metrics. - Expected SCE rate base compound annual growth of ~7% from 2025 to 2030.

- SCE expects sustained grid investment driven by growing customer demand for reliable and resilient electricity to support California’s clean energy and electrification goals. - Rate base compound annual growth is projected at approximately 7% from 2025 to 2030, reflecting clear near-term and long-term visibility. - The capital plan includes $38 billion to $41 billion in investments from 2026 through 2030 to meet customer needs and support the clean energy transition. - Management expects long-term core EPS growth of 5% to 7%, reinforced by disciplined capital execution, cost management, and risk-based investment prioritization. - There is no need for new common equity issuance for at least the next five years, reflecting financial strength and efficient capital management. - Operational improvements and new technologies, such as AMI 2.0 and AI-enabled processes, are expected to enhance efficiency and customer value, supporting growth.

- Edison International reaffirms its 2026 core EPS guidance range of $5.90 to $6.20. - Long-term core EPS growth target is maintained at 5% to 7%. - The company expects sustained EPS growth supported by strong visibility into their capital plan and regulatory outlook. - No new common equity issuance is planned for at least the next 5 years through 2030, indicating confidence in internal financing. - SCE expects rate base compound annual growth of about 7% from 2025 to 2030, driven by essential grid investments. - Operational excellence, capital prioritization, and cost management support disciplined execution and financial targets. - Overall, Edison International aims to deliver consistent earnings growth with a focus on safety, reliability, and affordability.