UPDATE 1-Edison International Q2 profit beats market view

viernes 7 de agosto de 2009 16:37 CEST
 

* Q2 EPS $0.78 vs est. $0.52

* Q2 oper revenue dips 19 pct

* Keeps 2009 core EPS view of $2.90-$3.20/shr

Aug 7 (Reuters) - Edison International (EIX.N: Cotización), a generator and distributor of electric power, posted second-quarter core profit that handily beat analysts' estimates, helped by higher earnings at its Southern California unit.

In the latest quarter, the company posted a net loss of $16 million, or 5 cents a share, compared with a profit of $261 million, or 79 cents a share, a year ago.

Excluding a tax settlement charge and other items, the company earned 78 cents per share.

Total operating revenue for the quarter dropped about 19 percent to $2.83 billion.

Analysts, on average, expected the company to earn 52 cents a share, before items, on revenue of $3.14 billion, according to Reuters Estimates.

The company maintained its 2009 core earnings forecast of $2.90 to $3.20 a share, before items.

It, however, revised its full-year net profit outlook to a range of $2.18 to $2.48 a share, from $1.98 to $2.51 a share, to reflect certain charges.

Shares of the company were trading up 21 cents at $31.51 Friday morning on the New York Stock Exchange. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Aradhana Aravindan)