Consolidated Edison Inc. (ED) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $0.72 billion, or $2.08 per share. This compares with $1.43 billion, or $4.06 per share, in last year's first quarter.
Excluding items, Consolidated Edison Inc. reported adjusted earnings of $742 million or $2.15 per share for the period.
Analysts on average had expected the company to earn $1.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Consolidated Edison Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $0.72 Bln. vs. $1.43 Bln. last year.
-EPS (Q1): $2.08 vs. $4.06 last year.
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