Con Ed: Q4 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Consolidated Edison Inc. (ED) on Thursday reported fourth-quarter profit of $335 million.

On a per-share basis, the New York-based company said it had profit of 96 cents. Earnings, adjusted for non-recurring costs, were $1 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The utility posted revenue of $3.44 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $3.74 billion.

For the year, the company reported profit of $2.52 billion, or $7.21 per share. Revenue was reported as $14.66 billion.

Con Ed expects full-year earnings in the range of $5.20 to $5.40 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ED at https://www.zacks.com/ap/ED