Edison International (NYSE:EIX) reaffirms its FY20 EPS of $4.37 to $4.62 per share vs. $4.44 consensus.
Southern California Edison has reached a settlement agreement with all the holders of insurance subrogation claims in the pending litigation arising from the 2017 Thomas and Koenigstein fires and the 2018 Montecito Mudslides.
Under the subrogation claims settlement, subrogation plaintiffs will receive $1.16B for claims based on payments they have already made to individual and business policyholders associated with the Thomas and Koenigstein fires and Montecito Mudslides.
SCE will pay additional amounts for claims arising from future payments that may be made to policyholders prior to July 15, 2023, up to an agreed-upon cap.
Source: Press Release