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Dec 31, 2021
ConEd Q4 2021 Earnings Report
Con Edison reported an increase in net income and adjusted earnings for Q4 2021 compared to Q4 2020, driven by strong operational performance and strategic initiatives.
Key Takeaways
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.
Net income for common stock was $224 million, or $0.63 per share, compared to $43 million, or $0.13 per share, in Q4 2020.
Adjusted earnings were $355 million, or $1.00 per share, compared to $253 million, or $0.75 per share, in Q4 2020.
The company expects its adjusted earnings per share to be in the range of $4.40 to $4.60 per share for the year of 2022.
Con Edison is considering strategic alternatives with respect to the Clean Energy Businesses.
Forward Guidance
Con Edison expects its adjusted earnings per share to be in the range of $4.40 to $4.60 per share for the year of 2022. The company also forecasts a five-year compounded annual adjusted earnings per share growth rate of 5% to 7% based on its 2022 adjusted earnings per share guidance.
Positive Outlook
- Adjusted earnings per share to be in the range of $4.40 to $4.60 per share for 2022.
- Five-year compounded annual adjusted earnings per share growth rate of 5% to 7%.
- Capital investments of $4,607 million expected in 2022.
- Capital investments of $11,070 million in aggregate expected for 2023 and 2024.
- Plans to meet capital requirements through internally-generated funds and the issuance of long-term debt and common equity.
Challenges Ahead
- Adjusted earnings per share exclude the effects of HLBV accounting and the related tax impact.
- Adjusted earnings per share exclude the net mark-to-market effects of the Clean Energy Businesses and the related tax impact.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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