Con Edison reports 2023 adj. EPS of $5.07, guides FY2024 $5.20-$5.40

CONSOLIDATED EDISON INC

2023-FY EPS reported $7.21 revenue$14,663,000,000

FY2023 net income $2,519M ($7.25 GAAP EPS) vs. $1,660M ($4.68) in 2022; adjusted EPS $5.07 vs. $4.57.
Q4 2023 net income $335M ($0.97 GAAP EPS) vs. $190M ($0.53); adjusted EPS $1.00 vs. $0.81.
FY2024 adjusted EPS guidance $5.20-$5.40, with 5%-7% five-year CAGR from 2024 base.
Plans $4.85B capex in 2024, $5.24B in 2025, and $17.96B for 2026-2028; no parent-company LT debt.
No common equity issuance in 2024; up to $1,300M in 2025 and $2,800M in 2026-2028; $3.25B debt in 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CONSOLIDATED EDISON INC reported the three months and year ended December 31, 2023 results: net income $2,519 million, EPS $7.25 a share. Guidance initiated.

Period: the three months and year ended December 31, 2023
Net income: $2,519 million
EPS: $7.25 a share
Guidance: initiated
Result: reported results

Exact text from the filing

the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ -2- Item 2.02 Results of Operations and Financial Condition. On February 15, 2024, Consolidated Edison, Inc. is issuing a press release and an earnings release presentation regarding, among other things, its results of operations for the three months and year ended December 31, 2023. The press release and the earnings release presentation are “furnished” as exhibits to this report pursuant to Item 2.02 of Form 8-K.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CONSOLIDATED EDISON INC reported 2023 results: net income $2,519 million, EPS $7.25 a share. Guidance initiated.

Period: 2023
Net income: $2,519 million
EPS: $7.25 a share
Guidance: initiated
Result: reported results

Exact text from the filing

Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2023 net income for common stock of $2,519 million or $7.25 a share compared with $1,660 million or $4.68 a share in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CONSOLIDATED EDISON INC reported the year of 2024 results: EPS in the range of $5.20 to $5.40 per share. Guidance initiated.

Period: the year of 2024
EPS: in the range of $5.20 to $5.40 per share
Guidance: initiated
Result: guidance update

Exact text from the filing

For the year of 2024, Con Edison expects its adjusted earnings per share to be in the range of $5.20 to $5.40 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CONSOLIDATED EDISON INC reported the fourth quarter of 2023 results: net income $335 million, EPS $0.97 a share. Guidance initiated.

Period: the fourth quarter of 2023
Net income: $335 million
EPS: $0.97 a share
Guidance: initiated
Result: reported results

Exact text from the filing

For the fourth quarter of 2023, net income for common stock was $335 million or $0.97 a share compared with $190 million or $0.53 a share in the 2022 period.

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Source: SEC EDGAR

accession 0001047862-24-000013

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