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