ConEd Earnings Reports

Con Edison posted Q4 2024 net income of $310 million, down from $335 million in the same period last year. EPS declined to $0.90 from $0.97, while adjusted EPS dropped slightly to $0.98 from $1.00. Revenue increased to $3.67 billion, driven by higher electric and gas revenues. The company remains optimistic about future growth and infrastructure investments to support electrification.

Con Edison reported a strong third quarter with net income for common stock of $588 million, or $1.70 per share, compared to $526 million, or $1.53 per share, in the third quarter of 2023. Adjusted earnings were $583 million, or $1.68 per share, compared to $561 million, or $1.62 per share, in the same period last year. The company is narrowing and revising its 2024 adjusted EPS guidance to the upper half of its original range.

Consolidated Edison, Inc. reported a decrease in net income for common stock to $202 million, or $0.58 per share, for the second quarter of 2024, compared to $226 million, or $0.65 per share, in the same period of 2023. Adjusted earnings were $203 million, or $0.59 per share, compared to $210 million, or $0.61 per share in the prior year. The company reaffirmed its 2024 adjusted earnings per share guidance range of $5.20 to $5.40.

Con Edison's first quarter net income for common stock was $720 million, or $2.08 a share, compared to $1,433 million, or $4.06 a share, in the first quarter of 2023. Adjusted earnings were $742 million, or $2.15 a share, compared to $645 million, or $1.83 a share, in the same period last year. The company reaffirmed its adjusted earnings per share forecast for 2024 to be in the range of $5.20 to $5.40.

Consolidated Edison, Inc. reported a net income for common stock of $335 million, or $0.97 per share, for Q4 2023, compared to $190 million, or $0.53 per share, for Q4 2022. Adjusted earnings were $346 million, or $1.00 per share, compared to $288 million, or $0.81 per share, for the same period in the previous year. The company is making strategic investments to build a grid capable of carrying clean energy and protecting infrastructure from climate change.

Con Edison's third quarter 2023 net income was $526 million, or $1.53 per share, compared to $613 million, or $1.73 per share, in the third quarter of 2022. Adjusted earnings were $561 million, or $1.62 per share, compared to $579 million, or $1.63 per share, in the same period last year.

Con Edison reported a decrease in net income for the second quarter of 2023, with $226 million compared to $255 million in the same period of 2022. Adjusted earnings also decreased to $210 million from $228 million in the previous year.

Consolidated Edison reported a net income of $1,433 million, or $4.06 per share, for the first quarter of 2023, compared to $602 million, or $1.70 per share, in the same quarter of 2022. Adjusted earnings were $645 million, or $1.83 per share, compared to $522 million, or $1.47 per share, in the 2022 period. The company reaffirmed its adjusted earnings per share forecast for 2023 to be in the range of $4.75 to $4.95.

Consolidated Edison, Inc. reported a decrease in net income for the fourth quarter of 2022, with $190 million or $0.53 a share, compared to $224 million or $0.63 a share in the 2021 period. Adjusted earnings were $288 million or $0.81 a share in the 2022 period compared with $355 million or $1.00 a share in the 2021 period. The company made tremendous progress in 2022 in energy efficiency, new EV charger installations and customer solar projects.

Con Edison reported a net income of $613 million, or $1.73 per share, for the third quarter of 2022, compared to $538 million, or $1.52 per share, in the same period of 2021. Adjusted earnings were $579 million, or $1.63 per share, compared to $499 million, or $1.41 per share, in the prior year. The company is selling its Clean Energy Businesses for $6.8 billion and expects adjusted earnings per share for 2022 to be in the range of $4.50 to $4.60.

Consolidated Edison, Inc. reported a net income for common stock of $255 million, or $0.72 a share, for the second quarter of 2022, compared to $165 million, or $0.48 a share, for the second quarter of 2021. Adjusted earnings were $228 million, or $0.64 a share, compared to $182 million, or $0.53 a share in the 2021 period.

Consolidated Edison, Inc. reported a net income of $602 million or $1.70 a share for the first quarter of 2022, compared to $419 million or $1.23 a share in the first quarter of 2021. Adjusted earnings were $522 million or $1.47 a share in 2022, compared to $491 million or $1.44 a share in 2021. The company reaffirmed its adjusted earnings per share forecast for the year of 2022 to be in the range of $4.40 to $4.60.

Con Edison reported a net income for common stock of $224 million, or $0.63 per share, for the fourth quarter of 2021, compared to $43 million, or $0.13 per share, for the same period in 2020. Adjusted earnings were $355 million, or $1.00 per share, in Q4 2021, compared to $253 million, or $0.75 per share, in Q4 2020. The company's performance reflects its commitment to providing safe and reliable service and delivering investor value.

Con Edison reported a net income of $538 million, or $1.52 per share, for the third quarter of 2021, compared to $493 million, or $1.47 per share, for the third quarter of 2020. Adjusted earnings were $499 million, or $1.41 per share, compared to $495 million, or $1.48 per share in the 2020 period.

Consolidated Edison reported a decrease in net income for the second quarter of 2021, with $165 million or $0.48 per share, compared to $190 million or $0.57 per share in the second quarter of 2020. Adjusted earnings were $182 million or $0.53 per share, compared to $201 million or $0.60 per share in the same period last year.

Consolidated Edison reported a net income of $419 million, or $1.23 per share, for the first quarter of 2021, compared to $375 million, or $1.13 per share, for the first quarter of 2020. Adjusted earnings were $491 million, or $1.44 per share, compared to $451 million, or $1.35 per share in the 2020 period.

Con Edison's Q4 2020 net income was $43 million, or $0.13 per share, a decrease from $295 million, or $0.89 per share, in Q4 2019. Adjusted earnings were $253 million, or $0.75 per share, compared to $288 million, or $0.87 per share, in the prior year. The results were impacted by an impairment loss related to the Mountain Valley Pipeline investment.

Consolidated Edison, Inc. reported a net income of $493 million, or $1.47 per share, for the third quarter of 2020, compared to $473 million, or $1.42 per share, for the third quarter of 2019. Adjusted earnings were $495 million, or $1.48 per share, in the 2020 period compared with $513 million, or $1.54 per share, in the 2019 period.

Con Edison reported a rise in both net income and adjusted earnings for the second quarter of 2020 compared to the second quarter of 2019. The company is focused on providing reliable service during the pandemic and restoring service after Tropical Storm Isaias. They are also committed to clean energy and addressing diversity and inclusion.

Consolidated Edison reported a decrease in net income for Q1 2020, with $375 million compared to $424 million in Q1 2019. However, adjusted earnings increased slightly to $451 million from $448 million in the same period last year. The company expects its adjusted earnings per share to be in the range of $4.15 to $4.35 for the year of 2020.

Con Edison reported a net income of $295 million or $0.89 per share for the fourth quarter of 2019, compared to $331 million or $1.06 per share in 2018. Adjusted earnings were $288 million or $0.87 per share, compared to $243 million or $0.77 per share in the same period of 2018. The company delivered solid financial results while addressing challenges and focusing on a cleaner energy future.