FX.co ★ Consolidated Edison Inc. Q1 Profit Decreases, but beats estimates

Consolidated Edison Inc. recently announced its first-quarter earnings, which displayed a decrease from the same period in the previous year but exceeded Street estimates. The firm declared a net income of $0.72 billion, equivalent to $2.08 per share, which is less compared to $1.43 billion or $4.06 per share reported in the first quarter of last year.

When taking into account certain items, the adjusted earnings of Consolidated Edison Inc. stood at $742 million, translating to $2.15 per share for the reported period. On average, analysts had predicted the company's earnings to be around $1.88 per share according to the data assembled by Thomson Reuters. It's noteworthy that these estimates commonly exclude any special items.

Looking closely at the earnings of Consolidated Edison Inc., the comparison stood as follows: first quarter earnings were $0.72 billion as opposed to $1.43 billion from the previous year, while per share earnings for the first quarter were $2.08 compared to $4.06 from the previous year.