Stock Monitor: Pampa Energia Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 27, 2018 / Active-Investors.com has just released a free earnings report on Consolidated Edison, Inc. (NYSE: ED) ("Con Edison"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ED. (Con Edison) reported financial results on February 15, 2018, for the fourth quarter and full year ended December 31, 2017. The Company surpassed analysts' estimates for both revenues and earnings in Q4 FY17. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Consolidated Edison most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Con Edison's total operating revenues for Q4 FY17 reached $2.96 billion, an increase of 9.38% from $2.71 billion in Q4 FY16 mainly driven by the non-utility segment. Operating revenues of the electric segment advanced 0.74% y-o-y to $2.04 billion; gas segment increased 21.08% y-o-y to $540 million; steam segment increased 1.38% y-o-y to $147 million; and non-utility segment surged 155.43% y-o-y to $235 million in Q4 FY17. Total revenue number was higher than the analysts' consensus estimates of $2.8 billion.
Con Edison's operating expenses were $2.42 billion compared to $2.23 billion in Q4 FY16, reflecting an increase of 8.43%. The Company reported an operating income of $544 million in the reported quarter, an increase of 13.81% from $478 million in the previous year's corresponding quarter.
Con Edison reported a net income of $505 million in Q4 FY17, 143.96% higher than the $207 million reported in Q4 FY16. The Company's basic earnings per share (EPS) for the quarter under review was $1.63 compared to $0.68 in the year ago same quarter, reflecting an increase of 139.71%. Con Edison's reported Q4 FY17 results included impact from the enactment of the Tax Cuts and Jobs Act and net mark-to-market effects of the CEBs; and reported Q4 FY16 results included gain on sale of the CEBs' retail electric supply business and goodwill impairment related to the CEBs' energy service business. The Company's basic EPS, after adjusting for non-recurring items, increased 15.94% to $0.8 in Q4 FY17 from $0.69 in Q4 FY16. Con Edison's adjusted EPS was higher than analysts' consensus estimates of $0.77 per share.
For the year ending December 31, 2017, Con Edison's total operating revenues were $12.03 billion, a decrease of 0.35% from $12.08 billion in FY16, mainly driven by the decrease in non-utility revenues. The Company's operating income advanced 1.36% y-o-y to $2.61 billion in FY17. The Company's net income hiked 22.49% to $1.53 billion in the reported year from $1.25 billion in the previous year. Basic EPS rose 19.76% to $4.97 in FY17 from $4.15 in FY16. Diluted EPS for full year 2017, excluding special items was $4.12, up 3.26% from $3.99 in FY16.
Consolidated Edison's Segment Details
In Q4 FY17, the Cecony segment's net revenues increased by $24 million from Q4 FY16. The segment's EPS for the reported quarter also increased by $0.06 from the previous year's comparable quarter.
For Q4 FY17, the Orange and Rockland Utilities segment's net revenues advanced by $6 million from Q4 FY16. This segment's EPS increased by $0.02 in the quarter under review from the year ago same quarter.
The clean energy businesses segment's net revenues increased by $280 million in Q4 FY17 from Q4 FY16. This segment's EPS improved by $0.90 in the reported quarter from the previous year's corresponding quarter.
For Q4 FY17, the Transmission segment's net revenues increased $9 million from Q4 FY16. This segment's EPS improved by $0.03 in the quarter under review from the year ago same quarter.
Con Edison had cash and temporary cash investments of $797 million as on December 31, 2017, 2.71% up from $776 million as on December 31, 2016. The Company had a long-term debt of $14.73 billion at the end of FY17 compared to $14.74 billion at the end of FY16.
During the twelve months ending December 31, 2017, the Company's net cash flow from operating activities was $3.37 billion, 2.66% lower than $3.46 billion for the same period last year. The Company paid dividends of $803 million in FY17, up 5.24% from $763 million in FY16.
For full year 2018, Con Edison expects its adjusted earnings to be in the range of $4.15 to $4.35 per share. Adjusted earnings per share exclude the Clean Energy Businesses' net mark-to-market effects. This guidance includes capital investments of $3.97 billion and operations and maintenance expenses of $3.1 billion.
Con Edison's Board of Directors declared a quarterly dividend of $0.715 per common share on January 18, 2018. The dividend would be payable on March 15, 2018.
Stock Performance Snapshot
March 26, 2018 - At Monday's closing bell, Consolidated Edison's stock advanced 1.11%, ending the trading session at $76.42.
Volume traded for the day: 1.52 million shares.
After yesterday's close, Consolidated Edison's market cap was at $24.09 billion.
Price to Earnings (P/E) ratio was at 3.48.
The stock has a dividend yield of 3.74%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 1.1% at the end of the session.
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