in long-term underpinning I discuss to comments from target on our this results, base Thanks, full and Pedro, EPS rate XXXX. I'll confidence factors want today, everyone.
In confidence guidance. reaffirm to CapEx year shortly. SCE's EPS unwavering fourth I and XXXX X% quarter of growth achieving opportunities our elaborate good and and to XXXX XXXX will afternoon, my X%
quarter reported results. EPS with begin Let me EIX of fourth core $X.XX.
an in preferred As O&M, from gain Page increase on quarterly the on variance partially and you higher due by parent by analysis repurchases. grew can stock earnings also interest year-over-year primarily offset X, see lower a to shown $X.XX, revenue core The company expense. GRC had
full above range. of core the the EIX's year, of $X.XX EPS For was our midpoint guidance
repurchase pending and stocks. guidance. efficiency translate performance tender we key CEMA variances.
Summing our the core are for was above the will in For that in the initiatives that XX inform performance. decision takeaway we to versus EIX' The and the you our are of specific shows business. you business recall items our pleased operational shifted CEMA identified to decision context, gain to XXXX on XXXX was The $X.XX. operational a again, off X the the preferred into also seeing preferred guidance. midpoint.
Page higher variability that This continue in the we yet deliver operating the reflected I'm excellence is up into and, solid offer and this better-than-expected stock components throughout manage SCE start, EPS The this
to base want SCE's and I forecast and Turning rate capital shown Pages XX, messages. on to X XX emphasize
support we utility so transitioning This has maintenance. high-quality the a SCE has plans lower service economy. to for through they investment and of This quality prior the $XX risk. and billion critical leading is replacement, spending in areas, The carbon-free new majority including XXXX. GRCs, $XX high billion, view several invest covers a in infrastructure spending connections distribution and to growth, been plan First, role grid. which XXXX load California's these wildfire in capital mitigation, Moreover, directly type and approved of as inspections to robust
do stand-alone and the developed. they ERP Second, once file applications the fully AMI utility not for with CapEx forecasts opportunities programs areas. incorporate additional The will in substantial several these have next-gen long-term CPUC X.X been
CISO's owner the projects billion On approved of than in result the which for we incumbent SCE investments. XX transmission transmission more is will in expect side, FERC $X plan,
XX. EPS $X.XX and on modeling considerations Turning to are of $X.XX The Page to XXXX range outlined guidance.
the though year. earnings our EPS growth are X There for you primary strong, for guidance As implies this. can see, growth base reasons modest rate is
resolutions. interest on the full debt the all to payments, billion the utility claims and very by First, claims the costs. by clear $X.XX, expense balance issuing eligible refinancing driven $X.X financing that of CPUC cost to of including debt recovery to fund grows maturities wildfire about be additional of want I settlement-related expects seek
$X.XX operational lower $X.XX year-over-year. is SCE variance Second, to
total savings and customer in benefit SCE's to regulatory initiatives. captures SCE's about for XX% AFUDC, and activities the depreciation, the to This including into to distribution, excellence Pedro noted, accounts including operations, reliability-focused long variations XX% year-over-year true-ups financing support spend and on of we've approval. redeploy items The change. authorized utility the as as in O&M, its planned and reliability service continues O&M IT customers from As from increase in targeted levels. operational talked spends run. this such earlier
the excess to last and stock and the gain also due in a absence year on of subordinated needed the Third, other repurchase. of interest notes primarily parents costs repurchase issued are fund year's to higher, amounts on preferred the the full junior having of
XX. emphasize underlying the masked wildfire on is to business I growth to debt. by expense want claims interest the strong being that Page growing Turning
XXXX you or our are $X.XX core As pretax This on per this EPS $XXX about for see X% to of track interest is million of on chart, over EPS XXXX. growth growth reduces burden period. points basis through by despite which X% the core the we share, to achieve XXX
beyond from value delivering the core recovery resolution potential going our midpoints On substantial are increase XX. makes us Page we now guidance, a our big growth typical like in in into of The increase which the this, of earnings. would successful core an contributor some to cost insight earnings on this share guidance commitments. in the To X-year the and on do XXXX XXXX comes and biggest base confident between address to from and other hand, forward is illustrates the proceeding.
I EPS what bridge XXXX EPS rate providing
rate will You by X years, we've projecting XXXX. components. last has XX% for This base in step-up to that XX% several to recall increase the been
base the the in capital rate in drivers true-ups for increase are over prior drives $X.XX to relates first The change. The CapEx of case mix which including of deployed the differences cycle. rate and XXXX the timing this total GRC, and XXXX
XXXX. significant relates not should This underscore to SCE this and as wildfire past million expense and to only relates base are mitigation of is jurisdictional recover mitigation and key be above was what wildfire historical to portion driver, maturing represents moderating conductor want debt EPS, $XXX the its spending complete as contribution other we wildfire claim SCE's with variances a FERC component investments. to second see settlement XXXX substantially in rate Outside insulation I the remaining that non-GRC well authorized of as in A $X.XX. applications in line levels. GRC. process interest other spending has Further, The covered the operational and
drivers, growth in me saying XXXX.
Turn the Page going XX. by bolstered that are fact summarize headwinds Let to that to confidence by into moderate these by our is underpinned 'XX expected further
$XXX planned Following our an are execution $XX capital remainder programs equity In XXXX subordinated need of notes prefunded active the XXXX, internal minimal. EIX by offering. will of activities financing year The be our junior end QX. December, in addressed annual the market through of million million with
million $XXX the debt maturity. of funding of to expect rest we As the for needs, parent's to issue refinance the
to XX. Turning Page
only reiterating equity XXXX through core which per of to requires million We are for our X% year. XXXX, also growth target $XXX EPS of X%
of On and uses laid now the the period. sources consolidated side for right out we've page, the this
XXXX by confidence conclude remain our our in meeting Let me EPS saying XXXX targets strong. and
opportunities among incremental also The lowest the guidance CPUC Additionally, XXXX in value there system investment These cornerstone value. concludes quarterly it and look to back operational and into average remarks, call.
That leadership next executing FERC and rate and equity Sam. events, our major cost my that IOUs potential are are forward factored for the pass company's are creation metrics over recoveries program. our XXXX the sharing to We earnings California growth on opportunities. progress executing and not cost and on plans I'll excellence successfully for SCE's or our
