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ConEd
🇺🇸 NYSE:ED
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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.

Total Revenue
$3.87B
Previous year: $4.17B
-7.0%
EPS
$1.62
Previous year: $1.63
-0.6%
Gross Profit
$2.04B
Previous year: $2.19B
-7.1%
Cash and Equivalents
$540M
Previous year: $78M
+592.3%
Free Cash Flow
-$984M
Total Assets
$64.4B
Previous year: $65.8B
-2.1%

ConEd

ConEd

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.

Company Overview

Full financial data and analysis

View ConEd