Consolidated Edison Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Consolidated Edison Inc. (ED) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $255 million, or $0.72 per share. This compares with $165 million, or $0.48 per share, in last year's second quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $228 million or $0.64 per share for the period.

Analysts on average had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.8% to $3.41 billion from $2.97 billion last year.

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

-Earnings (Q2): $255 Mln. vs. $165 Mln. last year. -EPS (Q2): $0.72 vs. $0.48 last year. -Analyst Estimate: $0.59 -Revenue (Q2): $3.41 Bln vs. $2.97 Bln last year.

-Guidance: Full year EPS guidance: $4.40 to $4.60