News

Consolidated Edison (ED) reported $4.28 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.8%. EPS of $2.15 for the same period compares to $1.83 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.41 billion, representing a surprise of -2.89%. The company delivered an EPS surprise of +13.76%, with the consensus EPS estimate being $1.89.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Con Ed performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Operating revenues- CECONY: $3.97 billion versus the three-analyst average estimate of $4.13 billion.
• Operating revenues- O&R: $308 million versus the three-analyst average estimate of $316.23 million.
• Operating revenues- CECONY- Gas: $1.24 billion compared to the $1.11 billion average estimate based on two analysts.
• Operating revenues- O&R- Electric: $195 million versus $196.73 million estimated by two analysts on average.
• Operating revenues- O&R- Gas: $113 million versus $112.87 million estimated by two analysts on average.
• Operating revenues- CECONY- Electric: $2.44 billion compared to the $2.79 billion average estimate based on two analysts.
• Operating revenues- Non-utility: $1 million compared to the $12.87 million average estimate based on two analysts.
• Operating revenues- CECONY- Steam: $287 million compared to the $246.63 million average estimate based on two analysts.
• Operating Income- O&R: $56 million versus $42.73 million estimated by three analysts on average.
• Operating Income- CECONY: $989 million versus the two-analyst average estimate of $796.79 million.

View all Key Company Metrics for Con Ed here>>>

Shares of Con Ed have returned +5.5% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.