By Ben Glickman
Consolidated Edison lifted its full-year forecast for adjusted earnings despite profit falling in the third quarter.
The New York-based utility company now expects 2023 adjusted profit of $5 to $5.10 a share, on a non-diluted basis. The company previously forecast adjusted per-share earnings of $4.85 to $5 a share.
Analysts polled by FactSet expect earnings of $4.90 a share.
Con Ed’s adjusted earnings exclude the gain and other impacts from the sale of its clean energy business, as well as the effects of tax equity investments and other factors.
Con Ed posted a lower third-quarter profit that beat analysts’ estimates by 1 cent. Revenue sank but met analysts’ expectations.
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