NEW YORK (TheStreet) -- Shares of Edison International(EIX) - Get Report are rising by 3.23% to $67.08 late Wednesday morning, after the Rosemead, CA-based company reported its 2015 fourth quarter results.
After yesterday's market close, the utility holding company posted adjusted earnings of 88 cents per share, beating analysts' estimates for earnings of 60 cents per share.
Operating revenue slipped by 25% to $2.34 billion and missed Wall Street's estimates of $3.34 billion.
Results were impacted by a rate case decision for its utility subsidiary Southern California Edison.
In November, the California Public Utilities Commission's final decision had a 2015 revenue requirement that was lower than existing rates and was retroactive to the first day of 2015, the Wall Street Journal noted.
For the full year, the company expects earnings of $3.81 to $4.01 a share, higher than analysts' estimates of $3.75.
"Our results are well ahead of earnings guidance and reflect SCE's strong rate base growth and continued focus on operational excellence," Chairman and CEO Ted Craver said in a statement.
"With the potential for continued long-term growth and productivity improvements at SCE along with continued development of Edison Energy Group's businesses, Edison International is well-positioned in a rapidly changing industry," he added.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks rated.
The company's strengths can be seen in multiple areas, such as its notable return on equity and relatively strong performance when compared with the S&P 500 during the past year.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: EIX