Consolidated Edison Inc. (ED) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $310 million, or $0.89 per share. This compares with $335 million, or $0.96 per share, last year.
Excluding items, Consolidated Edison Inc. reported adjusted earnings of $340 million or $0.98 per share for the period.
Analysts on average had expected the company to earn $0.96 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 6.5% to $3.669 billion from $3.444 billion last year.
Consolidated Edison Inc. earnings at a glance (GAAP) :
-Earnings: $310 Mln. vs. $335 Mln. last year.-EPS: $0.89 vs. $0.96 last year.-Revenue: $3.669 Bln vs. $3.444 Bln last year.
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