Consolidated Edison Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Consolidated Edison Inc. (ED) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $190 million, or $0.53 per share. This compares with $224 million, or $0.63 per share, in last year's fourth quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $288 million or $0.81 per share for the period.

Analysts on average had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.8% to $4.03 billion from $3.42 billion last year.

Consolidated Edison Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $190 Mln. vs. $224 Mln. last year. -EPS (Q4): $0.53 vs. $0.63 last year. -Analyst Estimates: $0.80 -Revenue (Q4): $4.03 Bln vs. $3.42 Bln last year.