NEW YORK (AP) — NEW YORK (AP) — Consolidated Edison Inc. (ED) on Thursday reported fourth-quarter profit of $297 million.
On a per-share basis, the New York-based company said it had net income of 82 cents. Earnings, adjusted for non-recurring costs, came to 89 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The utility posted revenue of $4 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $3.7 billion.
For the year, the company reported profit of $2.02 billion, or $5.64 per share. Revenue was reported as $16.92 billion.
Con Ed expects full-year earnings in the range of $6 to $6.20 per share.
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