Con Ed: 2Q Earnings Snapshot
NEW YORK (AP) _ Consolidated Edison Inc. (ED) on Thursday reported second-quarter earnings of $152 million.
The New York-based company said it had profit of 46 cents per share. Earnings, adjusted for non-recurring costs, came to 58 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The utility posted revenue of $2.74 billion in the period.
Con Ed expects full-year earnings in the range of $4.25 to $4.45 per share.
Con Ed shares have climbed 12% since the beginning of the year, while the Standard & Poor’s 500 index has risen 18%. In the final minutes of trading on Thursday, shares hit $85.94, an increase of 10% in the last 12 months.