ConEd Q1 2022 Earnings Report

Con Edison reported first quarter earnings, with net income and adjusted earnings exceeding the previous year's figures.

Key Takeaways

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.

Net income for common stock was $602 million, or $1.70 per share, compared to $419 million, or $1.23 per share, in the first quarter of 2021.

Adjusted earnings were $522 million, or $1.47 per share, compared to $491 million, or $1.44 per share, in the first quarter of 2021.

The company helped customers surpass 400 megawatts of solar capacity and placed another battery project into service.

Con Edison reaffirmed its previous forecast of adjusted earnings per share to be in the range of $4.40 to $4.60 for the year of 2022.

Total Revenue

$4.06B

Previous year: $3.68B