Edison International EIX reported fourth-quarter 2020 adjusted earnings of $1.19 per share, which missed the Zacks Consensus Estimate of $1.23 by 3.3%. The bottom line however improved 20.2% from the year-ago quarter’s earnings figure.Excluding adjustments, the company recorded earnings of $1.39 per share from continuing operations compared with 40 cents generated in fourth-quarter 2019.For 2020, the company recorded adjusted earnings of $4.52 per share, which came in lower than 2019’s $4.70. The full-year earnings also lagged the Zacks Consensus Estimate of $4.55.Edison International Price, Consensus and EPS Surprise Edison International price-consensus-eps-surprise-chart | Edison International Quote Total RevenuesEdison International's fourth-quarter revenues totaled $3,157 million, which surpassed the Zacks Consensus Estimate of $3,078 million by 2.6%. Also, the top line rose 6.3% from the year-ago quarter’s $2,970 million.For 2020, the company recorded revenues of $13.58 billion, which came in higher than 2019’s $12.35 billion. The full-year revenues also beat the Zacks Consensus Estimate of $13.47 billion.Operational HighlightsIn the reported quarter, total operating expenses dropped 11.9% year over year to $2,363 million.Operation and maintenance costs declined 5.6% year over year, whereas expense associated with wildfire related claims plunged 90%. Meanwhile, purchased power and fuel costs rose 12.9%, whereas depreciation and amortization expenses increased 7.2%.Operating income amounted to $794 million in the fourth quarter of 2020, compared with $287 million in the year-ago quarter.Segment ResultsSouthern California Edison’s (SCE) fourth-quarter adjusted earnings were $1.30 per share compared with $1.08 a year ago.The Parent and Other segment incurred an adjusted loss of 11 cents per share compared with the year-ago quarter’s loss of 9 cents.Financial UpdateAs of Dec 31, 2020, Edison International's cash and cash equivalents amounted to $87 million compared with $68 million as of Dec 31, 2019.Long-term debt was $19.63 billion, higher than the 2019-end level of $17.87 billion.Net cash inflow from operating activities during 2020 was $1,263 million against cash outflow of $307 million in the prior-year.Total capital expenditures totaled $5,484 million at the end of 2020, up from $4,877 million a year ago.2021 GuidanceEdison International announced that it will provide 2021 earnings guidance after a final decision has been adopted by the CPUC on the Southern California Edison 2021 GRC,Zacks RankEdison International currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Utility ReleasesXcel Energy Inc. XEL posted fourth-quarter 2020 operating earnings of 54 cents per share, in line with the Zacks Consensus Estimate.NextEra Energy, Inc. NEE reported fourth-quarter 2020 adjusted earnings of 40 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 2.6%.CMS Energy Corp. CMS reported fourth-quarter 2020 adjusted earnings per share of 56 cents, which surpassed the Zacks Consensus Estimate of 55 cents by 1.8%.Just Released: Zacks’ 7 Best Stocks for TodayExperts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.These 7 were selected because of their superior potential for immediate breakout.See these time-sensitive tickers now >> 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 Edison International (EIX): Get Free Report CMS Energy Corporation (CMS): Free Stock Analysis Report Xcel Energy Inc. (XEL): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research