Edison International's (EIX) CEO Pedro Pizarro On Q1 2022 Results - Earnings Call Transcript

Edison International (NYSE:EIX) Q1 2022 Earnings Conference Call May 3, 2022 4:30 PM ET

Company Participants

Sam Ramraj - Vice President, Investor Relations

Pedro Pizarro - President and Chief Executive Officer

Maria Rigatti - Executive Vice President and Chief Financial Officer

Steve Powell - President, CEO, Southern California Edison

Adam Umanoff - General Counsel

Conference Call Participants

Shar Pourreza - Guggenheim Partners

Steve Fleishman - Wolfe Research

Ryan Levine - Citi

Sophie Karp - KeyBanc

Jonathan Arnold - Vertical Research Partners

Michael Lapides - Goldman Sachs

Gregg Orrill - UBS

Richard Sutherland - JPMorgan Chase

Julien Dumoulin-Smith - Bank of America

Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.

Operator

00:04 Good afternoon, and welcome to the Edison International First Quarter 2022 Financial Teleconference. My name is Dextor, and I will be your operator today. [Operator Instructions] Today's call is being recorded.

00:19 I will like to now turn the call over to Mr. Sam Ramraj, Vice President of Investor Relations. Mr. Ramraj, you may begin your conference.

Sam Ramraj

00:29 Thank you, Dextor, and welcome everyone. Our speakers today are President and Chief Executive Officer, Pedro Pizarro; and Executive Vice President and Chief Financial Officer, Maria Rigatti. Also on the call are other members of the management team.

00:43 Materials supporting today's call are available at www.edisoninvestor.com. These include our Form 10-Q, prepared remarks from Pedro and Maria, and the teleconference presentation. Tomorrow, we will distribute our regular business update presentation.

01:01 During this call, we'll make forward-looking statements about the outlook for Edison International and its subsidiaries. Actual results could differ materially from current expectations. Important factors that could cause different results are set forth in our SEC filings. Please read these carefully. The presentation includes certain outlook assumptions, as well as reconciliation of non-GAAP measures to the nearest GAAP measure.

01:28 During the question-and-answer session, please limit yourself to one question and one follow-up. I will now turn the call over to Pedro.

Pedro Pizarro

01:37 Thank you, Sam. Edison International reported core earnings per share of $1.07, compared to $0.79 a year ago. We are reiterating our 2022 core EPS guidance range of $4.40 to $4.70 and our longer-term EPS growth target of 5% to 7% through 2025, resulting in core EPS of $5.50 to $5.90. Maria will discuss our financial performance in her remarks.