Consolidated Edison Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Consolidated Edison Inc. (ED) revealed earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $335 million, or $0.97 per share. This compares with $190 million, or $0.53 per share, in last year's fourth quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $346 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.6% to $3.44 billion from $4.03 billion last year.

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

-Earnings (Q4): $335 Mln. vs. $190 Mln. last year. -EPS (Q4): $0.97 vs. $0.53 last year. -Analyst Estimate: $0.96 -Revenue (Q4): $3.44 Bln vs. $4.03 Bln last year.