Consolidated Edison Q1 Profit Rises - Quick Facts

(RTTNews) - Consolidated Edison, Inc. (ED) reported first-quarter net income for common stock of $361 million or $1.23 per share compared to $192 million or $0.65 per share, previous year. Earnings from ongoing operations, which exclude the effects of its lease in/lease out transactions and the net mark-to-market effects of the competitive energy businesses, were $343 million or $1.17 a share.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.05 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues increased to $3.79 billion from $3.18 billion. Analysts expected revenue of $3.42 billion for the quarter.

For 2014, the company confirmed its previous forecast of earnings per share from ongoing operations in the range of $3.65 to $3.85 a share. Earnings per share from ongoing operations exclude a $0.02 a share benefit relating to the LILO transactions and the net mark-to-market effects of the CEBs. Analysts expect the company to report 2014 profit per share of $3.74.