Con Ed: 2Q Earnings Snapshot
NEW YORK (AP) _ Consolidated Edison Inc. (ED) on Thursday reported second-quarter net income of $188 million.
On a per-share basis, the New York-based company said it had net income of 60 cents. Earnings, adjusted for one-time gains and costs, were 61 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The utility posted revenue of $2.7 billion in the period.
Con Ed expects full-year earnings in the range of $4.15 to $4.35 per share.
Con Ed shares have decreased roughly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 6 percent. In the final minutes of trading on Thursday, shares hit $78.20, a drop of slightly more than 5 percent in the last 12 months.