Parent Says Working Toward Target Of Achieving Break-Even Run Rate For Broker-Consultant Business
July 26,2019
In reporting earnings for the second quarter, Edison International said, "At Edison Energy,
we are working towards our target of achieving a break-even run rate for earnings by the end of
this year."
Edison Energy is the company's energy consultant and broker
Edison International did not highlight any impact from Edison International in terms of earnings drivers for the three months ended June 30
For year-to-date, Edison International said that its Parent and Other segment (which includes Edison Energy) saw year-to-date 2019 losses from continuing operations decrease by $47 million, or $0.14 per share, compared to the same period in 2018, consisting of $5 million, or $0.01 per share, of lower core losses and $42 million, or $0.13 per share, of lower non-core losses. The lower core losses were primarily due to lower corporate and operating expenses and lower losses at the competitive business under Edison Energy Group, partially offset by higher interest expense. The decrease in non-core losses primarily related to the absence of the loss recorded in connection with the sale of SoCore Energy in April 2018.