Consolidated Edison Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Consolidated Edison Inc. (ED) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $0.72 billion, or $2.08 per share. This compares with $1.43 billion, or $4.06 per share, in last year's first quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $742 million or $2.15 per share for the period.

Analysts on average had expected the company to earn $1.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Consolidated Edison Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $0.72 Bln. vs. $1.43 Bln. last year. -EPS (Q1): $2.08 vs. $4.06 last year.