NEW YORK (AP) — NEW YORK (AP) — Consolidated Edison Inc. (ED) on Thursday reported first-quarter profit of $924 million.
On a per-share basis, the New York-based company said it had net income of $2.54. Earnings, adjusted for non-recurring gains, came to $2.17 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.32 per share.
The utility posted revenue of $5.1 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $4.95 billion.
Con Ed expects full-year earnings in the range of $6 to $6.20 per share.
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