Shares of Consolidated Edison 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.
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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