Edison International EIX reported first-quarter 2016 results, wherein adjusted earnings of 82 cents per share came in below of the Zacks Consensus Estimate of 89 cents by 7.9%. The quarterly number also declined 8.9% from 90 cents a year ago due to weak performance at Southern California Edison (“SCE”).Edison International (EIX) EPS BNRI & Surprise Percent - Last 5 Quarters | FindTheCompany Total RevenuesEdison International's first-quarter revenues were $2,440 million, lagging the Zacks Consensus Estimate of $2,515 million by 3%. Quarterly revenues were also lower than the year-ago level of $2,512 million by 2.9%.Operational HighlightsIn the reported quarter, total operating expenses increased 0.9% to $1,992 million on account of higher purchased power and fuel expenses, as well as depreciation and amortization expenses.Total fuel and power purchase cost was $794 million, up from $786 million in the year-ago period. Total operations and maintenance expenses decreased 1.1% to $629 million.Operating income was down 16.7% to $448 million in the reported quarter.Interest expenses were $140 million, lower than $143 million in the first quarter of 2015.Segment ResultsSCE’s first-quarter adjusted earnings were 88 cents per share, down 5.4% from the year-ago figure of 93 cents. Earnings in the reported quarter declined due to lower California Public Utilities Commission or CPUC-related revenues from the execution of the 2015 General Rate Case decision as well as higher income taxes and expenses.Edison International Parent and Other’s first-quarter 2016 core loss of 6 cents per share was wider than the year-ago loss of 3 cents per share.Financial UpdateAs of Mar 31, 2016, cash and cash equivalents were $137 million, down from $161 million as of Dec 31, 2015. Long-term debt was $11.24 billion, higher than the 2015-end level of $10.88 billion.Net cash from operating activities during the quarter was $853 million, compared with $964 million a year ago. Total capital expenditure amounted to $951 million during the first quarter 2016, down from $1,268 million in the year-ago period. GuidanceThe company reaffirmed its core earnings in the range of $3.81 to $4.01 per share for 2016.Management expects average annual rate base growth of 7% in the 2015–2017 time frame.The company had earlier projected capital expenditure of $8.0–$8.3 million over 2016–2017 at SCE.Peer ReleasesCMS Energy Corporation CMS reported first-quarter 2016 adjusted earnings per share of 59 cents, missing the Zacks Consensus Estimate of 68 cents by 13.2%. Quarterly earnings also plunged 19.2% from the year-ago figure of 73 cents.DTE Energy Company DTE reported first-quarter 2016 operating earnings per share of $1.52, in line with the Zacks Consensus Estimate. Reported earnings, however, dropped 7.9% from the year-ago figure of $1.65.American Electric Power Co., Inc. AEP reported first-quarter 2016 operating earnings of $1.02 per share, missing the Zacks Consensus Estimate of $1.06 by 3.8%. Earnings also dropped 20.3% from the year-ago figure owing to an unseasonably warm winter that led to weak residential sales and low power prices.Zacks RankEdison International presently carries a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMER ELEC PWR (AEP): Free Stock Analysis Report CMS ENERGY (CMS): Free Stock Analysis Report EDISON INTL (EIX): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research