The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Consolidated Edison whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share grew.
Margins grew across the board.
Consolidated Edison recorded revenue of $2.90 billion. The four analysts polled by S&P Capital IQ predicted revenue of $3.35 billion on the same basis. GAAP reported sales were 2.2% lower than the prior-year quarter's $2.97 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 $0.69. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.73 per share. GAAP EPS of $0.70 for Q4 were 7.7% higher than the prior-year quarter's $0.65 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 40.1%, 160 basis points better than the prior-year quarter. Operating margin was 15.6%, 20 basis points better than the prior-year quarter. Net margin was 7.1%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.45 billion. On the bottom line, the average EPS estimate is $1.03.
Next year's average estimate for revenue is $13.43 billion. The average EPS estimate is $3.83.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 637 members out of 670 rating the stock outperform, and 33 members rating it underperform. Among 207 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 198 give Consolidated Edison a green thumbs-up, and nine 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 $58.38.
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