Consolidated Edison Inc.
Con Edison Reports 2024 Second Quarter Earnings
Summary
Con Edison, Inc. reported its 2024 second quarter earnings, showing a net income for common stock of $202 million or $0.58 per share, compared to $226 million or $0.65 per share in the 2023 second quarter. Adjusted earnings (non-GAAP) for the 2024 period were $203 million or $0.59 per share, down from $210 million or $0.61 per share in 2023. For the first six months of 2024, net income was $922 million or $2.67 per share, and adjusted earnings were $945 million or $2.73 per share. These figures exclude certain items such as the effects of hypothetical liquidation at book value accounting for tax equity investments and adjustments related to the sale of its former subsidiary, Con Edison Clean Energy Businesses, Inc. The company maintained its 2024 adjusted earnings per share guidance range of $5.20 to $5.40.
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About Consolidated Edison Inc.
Consolidated Edison Inc. is a prominent utility company responsible for the delivery of energy services in the northeastern United States. Its primary function is the transmission of electricity and natural gas, as well as steam service, primarily serving the densely populated New York metropolitan area. Notably, it operates through its principal subsidiaries such as Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc., ensuring reliable energy provisions to millions of residents and businesses. The company is a key player in the energy sector, influencing regional economic activities and supporting essential services through its infrastructure. Consolidated Edison also focuses on advancements in renewable energy initiatives, playing an integral part in regional efforts to transition to sustainable energy solutions. Its prominence in delivering consistent energy supplies makes it a critical component in the market, directly impacting energy policy and regional economic stability.
Official SEC Documents
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