Consolidated Edison Sees FY24 Adj. EPS In Line With View

(RTTNews) - while announcing its fourth-quarter results, Consolidated Edison Inc. (ED) said it expects its adjusted earnings per share to be in the range of $5.20 to $5.40 per share for the year of 2024. Analysts polled by Thomson Reuters expect the company to report earnings of $5.29 per share for fiscal year 2024. Analysts' estimates typically exclude special items.

The company also forecasts a five-year compounded annual adjusted earnings per share growth rate of 5% to 7% based on its 2024 adjusted earnings per share guidance.

In 2024 and 2025, Con Edison expects to make capital investments of $4.849 billion and $5.243 billion, respectively.

For 2026 through 2028, Con Edison expects to make capital investments of $17.960 billion in aggregate.

Con Edison plans to meet its capital requirements for 2024 through 2028 through internally-generated funds and the issuance of long-term debt and common equity.

Con Edison's plans include the issuance of up to $3.250 billion of long-term debt in 2024 and up to $1.000 billion of long-term debt in 2025, including for maturing securities, at Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc. and approximately $6.000 billion in aggregate of long-term debt, including for maturing securities, at the Utilities during 2026 through 2028.

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