Insights into Con Ed's Q3 Earnings Performance

Consolidated Edison (ED) announced its financial results for the quarter ending September 2024, showcasing significant growth. The company reported revenue of $4.09 billion, marking a year-over-year increase of 5.7%. Earnings per share (EPS) stood at $1.68, compared to $1.62 during the same period last year.

The revenue generated exceeded Wall Street estimates, yielding a surprise of +1.85% against the Zacks Consensus Estimate of $4.02 billion. Additionally, with an EPS consensus estimate of $1.56, Con Ed's EPS also surprised analysts by +7.69%.

While the headline figures of revenue and earnings are essential for investors monitoring year-over-year changes, examining specific key metrics can provide deeper insight into a company's overall performance. These metrics can help assess both top-line and bottom-line growth, making it easier for investors to gauge a company's future potential.

Key Performance Metrics

In the recently concluded quarter, the performance metrics for Consolidated Edison of particular interest to Wall Street analysts are as follows:

• Operating Revenues - CECONY: $3.76 billion versus the three-analyst average estimate of $3.69 billion.
• Operating Revenues - O&R: $329 million compared to the average estimate of $284.88 million by three analysts.
• Operating Revenues - O&R - Gas: $36 million versus $25.89 million estimated by two analysts on average.
• Operating Revenues - CECONY - Electric: $3.38 billion against the $3.32 billion estimate from two analysts.
• Operating Revenues - CECONY - Gas: $337 million surpassing the average estimate of $334.42 million from two analysts.
• Operating Revenues - CECONY - Steam: $49 million compared to $56.38 million estimated by two analysts.
• Operating Revenues - O&R - Electric: $293 million versus $256.94 million estimated by two analysts.
• Operating Revenues - Gas: $373 million exceeding the $360.30 million estimate from two analysts.
• Operating Revenues - Electric: $3.67 billion as opposed to the $3.57 billion average estimate from two analysts.
• Operating Revenues - Steam: $49 million against the $56.38 million average estimate by two analysts.
• Operating Income - O&R: $63 million versus the estimated $49.49 million from three analysts.
• Operating Income - CECONY: $803 million versus the $776.92 million estimated by three analysts.

Market Performance and Outlook

Over the past month, shares of Con Ed have experienced a -3.3% return compared to a +3.2% change in the Zacks S&P 500 composite. The stock currently holds a Zacks Rank of #3 (Hold), indicating that it is expected to perform in line with the broader market in the near future.

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