Consolidated Edison Inc reports results for the quarter ended in June - Earnings Summary

Consolidated Edison

02/08/2024 03:34

* Consolidated Edison Inc  ED.N  reported quarterly adjusted
earnings of 59 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 61 cents.  The mean expectation of fifteen analysts for
the quarter was for earnings of 57 cents per share. Wall Street
expected results to range from 54 cents to 65 cents per share.
    * Revenue rose 1.8% to $3.00 billion from a year ago;
analysts
expected $3.18 billion. 
    * Consolidated Edison Inc's reported EPS for the quarter was
58
cents​.
    * The company reported quarterly net income of $186 million.
    * Consolidated Edison Inc shares had risen by 9.1% this
quarter and gained 7.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 10
"hold" and 6 "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is also "hold"

Wall Street's median 12-month price target for Consolidated
Edison Inc is $93.00 
This summary was machine generated from LSEG data August 2 at
02:34 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.57           0.59           Beat
 Mar. 31 2024                     2.15           
 Dec. 31 2023                                    
 Sep. 30 2023      1.60