Consolidated Edison Inc. Q4 adjusted earnings Beat Estimates

(RTTNews) - Consolidated Edison Inc. (ED) revealed a profit for fourth quarter that dropped from the same period last year.

The company's bottom line totaled $331 million, or $1.06 per share. This compares with $505 million, or $1.63 per share, in last year's fourth quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $243 million or $0.77 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.3% to $2.95 billion from $2.96 billion last year.

Consolidated Edison Inc. earnings at a glance:

-Earnings (Q4): $243 Mln. vs. $247 Mln. last year. -EPS (Q4): $0.77 vs. $0.80 last year. -Analysts Estimate: $0.75 -Revenue (Q4): $2.95 Bln vs. $2.96 Bln last year.