Edison International, a Rosemead-based electric power provider, and Energy Recovery Inc., a San Leandro company specializing in energy recovery devices, both unveiled their third-quarter earnings on Wednesday.
Energy Recovery Inc. reported Q3 earnings of $9.7 million, equivalent to 17 cents per share in USD. After accounting for stock option expenses, the earnings per share (EPS) stood at 20 cents, and the company’s quarterly revenue amounted to $37 million.
Meanwhile, Edison International posted Q3 earnings of $212 million, reflecting a net income of 40 cents per share. Adjusted earnings came in at $1.38 per share, slightly below Wall Street expectations set at $1.46 per share by Zacks analysts. Additionally, the company’s revenue fell short of estimates, totaling $4.7 billion compared to the anticipated $5.39 billion.
In addition to their Q3 performance, Edison International provided full-year earnings guidance, projecting results to range between $4.55 and $4.85 per share.
Despite managing substantial debt, Edison International has consistently shown a strong commitment to its shareholders. The company’s track record includes 17 consecutive years of dividend increases, a notable point emphasized by InvestingPro Tip. Moreover, the company’s net income is expected to grow this year, bolstering its financial outlook.