Con Edison Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Consolidated Edison, Inc. (ED) reported third-quarter net income of $436 million or $1.48 a share compared to $464 million or $1.58 a share in 2013. Earnings from ongoing operations, which exclude the effects of the lease in/lease out (LILO) transactions and the net mark-to-market effects of the competitive energy businesses (CEBs), were $436 million or $1.49 a share in 2014.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43 for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $3.39 billion from $3.48 billion last year. Analysts expected revenue of $3.47 billion for the quarter.

The company expects its earnings from ongoing operations for the year 2014 to be in the range of $3.80 to $3.90 a share. The company's previous forecast of 2014 earnings was in the range of $3.70 to $3.85 a share. Analysts expect the company to report full year earnings per share of $3.81.