Consolidated Edison Tops Q4 Earnings and Revenue Estimates
NEW YORK, Feb. 2 (AP) - Consolidated Edison Inc. (ED) reported a strong fourth-quarter performance, exceeding market expectations.
The New York-based utility reported net income of $310 million, or 89 cents per share. After adjusting for non-recurring expenses, earnings came in at 98 cents per share.
Six analysts surveyed by Zacks Investment Research had forecast earnings of 97 cents per share. Revenue for the quarter totaled $3.67 billion, also surpassing estimates. Four analysts surveyed by Zacks expected revenue of $3.58 billion.
Con Ed's full-year earnings are projected to be $5.50 per share.