Consolidated Edison ED reported its Q1 earnings results on Thursday, May 4, 2023 at 04:45 PM.
Here's what investors need to know about the announcement.
Earnings
Consolidated Edison beat estimated earnings by 15.82%, reporting an EPS of $1.83 versus an estimate of $1.58.
Revenue was up $343.00 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.01 which was followed by a 1.73% increase in the share price the next day.
Here's a look at Consolidated Edison's past performance:
Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
---|---|---|---|---|
EPS Estimate | 0.80 | 1.46 | 0.59 | 1.48 |
EPS Actual | 0.81 | 1.63 | 0.64 | 1.47 |
Revenue Estimate | 2.97B | 3.69B | 3.11B | 3.74B |
Revenue Actual | 4.03B | 4.17B | 3.42B | 4.06B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Consolidated Edison management provided guidance for FY 2023, expecting earnings between $4.75 and $4.95 per share.
To track all earnings releases for Consolidated Edison visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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