Key Metrics from Con Ed's Q3 Earnings Report

Consolidated Edison (ED) has released its revenue figures for the third quarter ending in September 2024, showcasing a strong performance. The company reported total revenue of $4.09 billion, marking a 5.7% increase compared to the same quarter in the previous year. Additionally, Con Ed reported earnings per share (EPS) of $1.68, up from $1.62 last year.

This revenue figure surpassed Wall Street expectations, as it was 1.85% higher than the Zacks Consensus Estimate of $4.02 billion. The EPS also exceeded the consensus estimate of $1.56, resulting in a surprise of 7.69% for investors.

While the overall revenue and earnings numbers are often the focus of investor attention, several key metrics can offer deeper insights into the company's operational health. Comparing these metrics to previous year figures and analyst estimates is crucial for understanding potential future performance regarding stock price.

Performance Metrics Overview

Here’s how Consolidated Edison performed in the recently reported quarter based on some critical metrics that Wall Street analysts closely monitor:

• Operating revenues- CECONY: $3.76 billion, compared to the three-analyst average estimate of $3.69 billion.
• Operating revenues- O&R: $329 million, exceeding the average estimate of $284.88 million from three analysts.
• Operating revenues- O&R- Gas: $36 million, outperforming the average estimate of $25.89 million provided by two analysts.
• Operating revenues- CECONY- Electric: $3.38 billion, higher than the $3.32 billion forecast by two analysts.
• Operating revenues- CECONY- Gas: $337 million, compared to the two-analyst average estimate of $334.42 million.
• Operating revenues- CECONY- Steam: $49 million, below the average estimate of $56.38 million by two analysts.
• Operating revenues- O&R- Electric: $293 million, surpassing the estimated average of $256.94 million from two analysts.
• Operating revenues- Gas: $373 million, exceeding the expected $360.30 million average by two analysts.
• Operating revenues- Electric: $3.67 billion, outpacing the average estimate of $3.57 billion from two analysts.
• Operating revenues- Steam: $49 million, which is lower than the estimated $56.38 million given by two analysts.
• Operating Income- O&R: $63 million, compared to the $49.49 million predicted by three analysts.
• Operating Income- CECONY: $803 million, above the average estimate of $776.92 million forecasted by three analysts.

Overall, the financial highlights point towards a robust performance by Consolidated Edison in the third quarter, but certain areas such as steam revenues fell short of expectations.

Market Response

Investors have reacted to these earnings results, with the shares of Con Ed reflecting a decrease of 3.3% over the past month. In contrast, the Zacks S&P 500 composite has shown a positive change of 3.2% in the same timeframe. Currently, Con Ed carries a Zacks Rank of #3 (Hold), indicating that the stock might perform on par with the broader market in the near term.

Earnings, ConEd, Investing