ConEd Q2 2020 Earnings Report
Key Takeaways
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.
Net income for common stock was $190 million, or $0.57 a share, compared to $152 million, or $0.46 a share, in Q2 2019.
Adjusted earnings were $201 million, or $0.60 a share, compared to $189 million, or $0.58 a share, in Q2 2019.
Con Edison is working to restore service to customers affected by Tropical Storm Isaias.
The company reaffirmed its 2020 adjusted earnings forecast of $4.15 to $4.35 per share.
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Forward Guidance
Con Edison reaffirmed its previous forecast of adjusted earnings for the year 2020, expecting earnings in the range of $4.15 to $4.35 per share.