Edison International Profits Fall with Wind

Earnings

Jeanine Poggi

05/08/09 - 11:24 AM EDT

Power generator Edison International(EIX Quote) posted a 16% decline in first-quarter earnings, hurt by its wind power segment.

During the quarter the company earned $250 million, or 76 cents a share, from $299 million, or 91 cents a share in the year-ago period. Analysts expected earnings of 70 cents a share.

Operating revenue fell to $2.8 billion from $3.1 billion.

The company's Edison Mission Group subsidiary, which owns a portfolio of wind energy, saw profits decline to 14 cents a share from 48 cents in the year prior.

The company reaffirmed its full-year earnings in the range of $2.90 to $3.20 a share. Edison sees growth potential in its Southern California Edison investment in California's electricity infrastructure and at EMG's development of a large pipeline of potential wind and solar energy projects.

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