Consolidated Edison Inc. (ED) Thursday posted fourth quarter net income of $202 million or $0.73 per share, compared to $160 million or $0.58 per share in the prior year quarter. Excluding certain items, earnings from ongoing operations for the fourth quarter were $184 million or $0.67 per share, compared to $200 million or $0.72 per share in the same quarter last year.
On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share. Analysts' estimates typically exclude special items.
Total operating revenues for the quarter were $3.3 billion, compared to $3.0 billion in last year quarter. Four Wall Street analysts expected revenues of $2.99 billion.
Looking forward, for the fiscal year 2010, the company expects earnings from ongoing operations to be in the range of $3.10 to $3.30 per share. Street analysts expect earnings of $3.36 per share for the year.
The company also expects to issue common stock of between $300 million and $500 million in addition to stock issuances under the company's dividend reinvestment and employee stock plans, and long-term debt issuances of between $600 million and $900 million in addition to debt issuances for $680 million of maturing securities.
In addition, the company also declared a quarterly dividend of 59 1/2 cents a share on its common stock, payable March 15, 2010 to shareholders of record as of February 17, 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.