Edison Shares Gain on Strong Q1

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Shares in Edison International gained more than 2 percent Wednesday after the utility company posted strong earnings, helped by lowered costs from coal-fired power plants.


Edison reported first quarter net income of $333 million ($1.01 per share), a 29 percent hike from $258 million (78 cents), from the same period a year ago, mainly due to lower costs in the company’s Midwestern power plants, the company said.


Revenues for the Rosemead-based utility rose 5.9 percent to $2.9 billion, mainly due to increased output from its coal-fired power plants in Illinois and Pennsylvania as well as increases in the Southern California area, the company said in a statement.


Shares in Edison were up $1.25, or 2.2 percent, to $56.25 in afternoon trading Wednesday on the New York Stock Exchange.

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