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Sep 30, 2023
ConEd Q3 2023 Earnings Report
Con Edison reported a decrease in net income and EPS compared to the same quarter last year, but adjusted earnings remained relatively stable. The company is focused on investing in clean energy transition and maintaining reliable service.
Key Takeaways
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.
Net income for common stock decreased to $526 million, or $1.53 a share, compared to $613 million, or $1.73 a share, in Q3 2022.
Adjusted earnings were $561 million, or $1.62 a share, compared to $579 million, or $1.63 a share in Q3 2022.
The company began construction of the Brooklyn Clean Energy Hub.
Con Edison released its Climate Change Vulnerability Study, highlighting the increasing regional temperatures.
Forward Guidance
Con Edison expects its adjusted earnings per share for the year 2023 to be in the range of $5.00 to $5.10 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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