Consolidated Edison Inc. Q4 Profit Decreases, But Beats Estimates

(RTTNews) - 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.