Consolidated Edison Inc. (ED) announced fiscal third quarter results with EPS of $1.16, which beat both the Zacks Consensus Estimate of $1.04 and the year-ago profit of 98 cents.   New York City-based Consolidated Edison  is a diversified utility holding company with subsidiaries engaged in both regulated and unregulated businesses. Consolidated Edison’s regulated businesses operate through two subsidiaries — Consolidated Edison Company of New York (Con Edison of New York) and Orange and Rockland Utilities (O&R).    Con Edison of New York is a regulated utility that provides electricity to roughly 3.3 million customers, natural gas to 1.1 million customers, and steam services to about 1,850 customers, primarily in New York City and Westchester County. O&R serves nearly 400,000 electric and gas customers in southeastern New York State, northern New Jersey, and northeastern Pennsylvania.   Consolidated Edison’s unregulated businesses operate through three subsidiaries: Consolidated Edison Development (engaged in

Consolidated Edison Inc.’s (ED) fiscal second-quarter earnings stood at 48 cents per share that beat the Zacks Consensus Estimate by a penny and was ahead of the year-ago EPS of 42 cents. However, GAAP EPS of 55 cents was almost one-fourth of the year-ago figure of $2.02. However, year-ago quarterly earnings were boosted by a $260 million gain on sale of assets.

The EPS variations reflect the year-over-year differences, where Con Edison of New York benefited from 28 cents per share as higher rates authorized higher recovery of costs. This was partially offset by 6 cents from higher operations and maintenance expense, 12 cents from depreciation and 5 cents from interest expense, and 1 cent from dilutive stock issuance. The net effect was a 4-cent spike in EPS year over year while Orange and Rockland utilities remained steady.   The real variation in EPS year over year came from Competitive

Consolidated Edison (ED) Reports Earnings for Fiscal Year 2008

Consolidated Edison (ED) reported earnings for the 4th quarter and fiscal year ended December 31, 2008. In the reported quarter, net income was $160 million or $0.58 per share (basic and diluted), compared with $207 million or $0.76 per share (basic and diluted) for the 4th quarter of 2007.

Excluding a gain on the sale of Con Edison Development’s generation projects, discontinued operations and net mark-to-market effects of competitive energy businesses, earnings from continuing operations during the reported quarter came to $200 million or $0.72 a share, compared with $191 million or $0.71 a share in the year-ago quarter.

Operating revenue in fiscal 2008 increased marginally to $13.6 billion from $13.1 billion in fiscal 2007. For the full year 2008, the company reported earnings of $1.2 billion, or $4.38 (basic) and $4.37 (diluted) per share, compared to earnings of $929 million, or $3.49

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