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Consolidated Edison: Q4 Earnings Insights

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Benzinga Insights
·1 min read
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Shares of Consolidated Edison (NYSE:ED) decreased in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were down 13.79% year over year to $0.75, which missed the estimate of $0.76.

Revenue of $2,960,000,000 higher by 0.30% from the same period last year, which missed the estimate of $3,180,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $4.15 and $4.35.

View more earnings on ED

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

52-week high: $94.65

52-week low: $62.03

Price action over last quarter: down 10.03%

Company Description

Con Ed is a holding company for Consolidated Edison Company of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York--including New York City--and small parts of New Jersey. The two utilities generate roughly 90% of Con Ed's earnings. The other 10% of earnings comes from investments in renewable energy projects and gas and electric transmission. These investments have resulted in Con Ed becoming the second- largest owner of utility-scale PV solar capacity in the U.S.

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