Consolidated Edison Inc. Q4 Profit Increases, beats estimates

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

The company's bottom line came in at $224 million, or $0.63 per share. This compares with $43 million, or $0.13 per share, in last year's fourth quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $355 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.2% to $3.41 billion from $2.96 billion last year.

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

-Earnings (Q4): $224 Mln. vs. $43 Mln. last year. -EPS (Q4): $0.63 vs. $0.13 last year. -Analyst Estimate: $0.85 -Revenue (Q4): $3.41 Bln vs. $2.96 Bln last year.