Edison International falls as wildfire investigation overshadows Q1 profit beat

** Shares of Edison International EIX.N down 9% at $53.42

** Co late on Tuesday posted Q1 adj. profit of $1.37/shr, beating analysts' estimate of $1.20/shr - data compiled by LSEG

** Co faces multiple lawsuits which allege that its electrical equipment started one of the major wildfires in the Los Angeles area in January

** Morningstar analyst Travis Miller says wildfire liability concerns are overshadowing a good quarter for EIX

** Miller notes EIX flagged that material losses from the Eaton fire in January were "probable", but still did not provide a loss estimate

** "We think the market is overestimating Edison's wildfire liabilities" - Miller says

** Including session's moves, company's shares down 33.2% YTD