The company said SCE's Q3 2024 CPUC-related revenue rose by $188 million on higher revenue authorized in Track 4 and a higher authorized rate of return from the cost of capital adjustment mechanism, and by $24 million on approval to recover wildfire mitigation costs.

10-QQuarterly reportFiled Oct 29, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said SCE's Q3 2024 CPUC-related revenue rose by $188 million on higher revenue authorized in Track 4 and a higher authorized rate of return from the cost of capital adjustment mechanism, and by $24 million on approval to recover wildfire mitigation costs.
SCE's wildfire-related claims, net of insurance recoveries, were $479 million for Q3 2023, the company said. For the 2024 and 2023 9-month periods, the charges were $614 million and $575 million, respectively.
As of September 30, 2024, the company said SCE held $91 million in cash and could borrow about $2.8 billion of its $3.4 billion revolving credit facility. Its debt to total capitalization ratio was 0.57 to 1, below the covenant limit of 0.65 to 1 or less.
The company said SCE issued a total of $4.3 billion of first and refunding mortgage bonds in the first 9 months of 2024. It also said SCE issued $350 million of preference stock in May 2024 and used the proceeds to redeem all outstanding shares of its Series E Preference Stock in June.

Key figures

Quarter ended September 30, 2024

Revenue: $5.2B
Operating income: $995M
Net income: $577M
EPS: $1.32

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

SCE Q3 CPUC-Related Revenue Increases

The company said SCE's Q3 2024 CPUC-related revenue rose by $188 million on higher revenue authorized in Track 4 and a higher authorized rate of return from the cost of capital adjustment mechanism, and by $24 million on approval to recover wildfire mitigation costs.

Source · Based on the MD&A text of the filing

Changes in Wildfire-Related Claims Costs

SCE's wildfire-related claims, net of insurance recoveries, were $479 million for Q3 2023, the company said. For the 2024 and 2023 9-month periods, the charges were $614 million and $575 million, respectively.

Source · Based on the MD&A text of the filing

SCE Liquidity and Debt Covenant Ratio

As of September 30, 2024, the company said SCE held $91 million in cash and could borrow about $2.8 billion of its $3.4 billion revolving credit facility. Its debt to total capitalization ratio was 0.57 to 1, below the covenant limit of 0.65 to 1 or less.

Source · Based on the MD&A text of the filing

SCE Bond and Preference Stock Issuances

The company said SCE issued a total of $4.3 billion of first and refunding mortgage bonds in the first 9 months of 2024. It also said SCE issued $350 million of preference stock in May 2024 and used the proceeds to redeem all outstanding shares of its Series E Preference Stock in June.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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