The 10-second takeaway
For the quarter ended March 31 (Q1), Consolidated Edison whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share contracted.
Gross margins increased, operating margins dropped, net margins dropped.
Consolidated Edison booked revenue of $3.08 billion. The four analysts polled by S&P Capital IQ expected revenue of $3.46 billion on the same basis. GAAP reported sales were 8.1% lower than the prior-year quarter's $3.35 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.00. The 14 earnings estimates compiled by S&P Capital IQ forecast $1.03 per share. GAAP EPS of $0.94 for Q1 were 11% lower than the prior-year quarter's $1.06 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 40.4%, 150 basis points better than the prior-year quarter. Operating margin was 18.2%, 50 basis points worse than the prior-year quarter. Net margin was 9.0%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.08 billion. On the bottom line, the average EPS estimate is $0.56.
Next year's average estimate for revenue is $13.85 billion. The average EPS estimate is $3.74.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 624 members out of 656 rating the stock outperform, and 32 members rating it underperform. Among 190 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 184 give Consolidated Edison a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Consolidated Edison is hold, with an average price target of $57.56.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.