Barclays downgraded Edison International (EIX) from strong-buy to hold on August 1, 2026. This move shifts the analyst consensus for the utility provider to hold.
The company reported second-quarter adjusted earnings of $1.54 per share. This result beat the consensus estimate of $1.18. However, revenue declined 4.1% year-over-year. Total revenue reached $4.36 billion, missing market expectations.
Subsidiary Southern California Edison faces approximately 2,000 lawsuits stemming from the Eaton Fire. These legal filings involve around 30,000 plaintiffs. The company cannot currently estimate the potential financial impact of these claims.