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Consolidated Edison, Inc. (NYSE: ED), commonly known as Con Edison or Con Ed, is one of the largest investor-owned energy companies in the United States. With annual revenues of approximately $15 billion and assets totaling $67 billion, Con Edison provides reliable and essential energy services to over 3 million customers in New York City and Westchester County, New York. The company is a holding entity for Consolidated Edison Company of New York, Inc. (CECONY) and Orange & Rockland Utilities, Inc. (O&R).
Core Business: Con Edison operates through its subsidiaries to provide electricity, gas, and steam services. CECONY delivers electric service in New York City and Westchester County, gas service in Manhattan, the Bronx, parts of Queens, and Westchester, and steam service in Manhattan. O&R serves a 1,300-square-mile area in southeastern New York State and northern New Jersey.
Recent Achievements: In 2023, Con Edison sold its clean energy business to RWE, focusing its efforts on its core utility operations. Notable projects include the completion of the Reliable Clean City transmission line and the commencement of construction on the Brooklyn Clean Energy Hub. These initiatives are pivotal in supporting New York’s transition to cleaner energy sources.
Financial Performance: In 2023, Con Edison reported net income of $2,519 million or $7.25 per share, compared to $1,660 million or $4.68 per share in 2022. Adjusted earnings were $1,762 million or $5.07 per share in 2023, reflecting strong operational performance and strategic investments. The company forecasts its adjusted earnings per share for 2024 to be in the range of $5.20 to $5.40.
Partnerships and Projects: Con Edison has secured a three-year rate plan approved by New York's Public Service Commission, authorizing $11.8 billion in capital investments. These funds will enhance the electric grid, accommodate increased demand from electric vehicles, and improve infrastructure resilience against climate change. Con Edison’s partnership ventures through Con Edison Transmission, Inc. aim to develop electric transmission projects that focus on bringing clean, renewable electricity to New York, New England, the Mid-Atlantic, and the Midwest.
Commitment to Clean Energy: Con Edison is committed to leading the clean energy transition. The company’s strategic investments are aligned with reducing carbon emissions and improving air quality. For instance, the Reliable Clean City project facilitated the closure of inefficient fossil-fired peakers. Additionally, the Brooklyn Clean Energy Hub will act as a potential entry point for renewable wind power.
Con Edison (NYSE: ED) reported third quarter 2024 net income of $588 million ($1.70 per share), up from $526 million ($1.53 per share) in Q3 2023. Adjusted earnings were $583 million ($1.68 per share) compared to $561 million ($1.62 per share) in the prior year period.
For the first nine months of 2024, net income reached $1,510 million ($4.37 per share). The company narrowed and revised its 2024 adjusted EPS guidance to $5.30-$5.40 per share, focusing on the upper half of its original range, reflecting solid third quarter results and year-to-date performance.
Con Edison (NYSE: ED) has announced it will release its 3rd Quarter 2024 earnings report on November 7, 2024, after market close. The company, one of the nation's largest investor-owned energy-delivery companies, reported $15 billion in annual revenues for 2023 and holds $68 billion in assets as of June 30, 2024. Con Edison operates through several subsidiaries, providing electric, gas, and steam services across New York City, Westchester County, southeastern New York State, and northern New Jersey, while also managing transmission assets through Con Edison Transmission, Inc.
First Student and Con Edison are launching a revolutionary demonstration project in Brooklyn, featuring a smart energy hub and 12 electric school buses with solar panels. This initiative aims to support the efficient electrification of school buses while addressing economic barriers for medium and heavy-duty fleet electrification.
The project introduces First Charge, an innovative trenchless power deployment solution that reduces construction costs by at least 30%. It also showcases Vehicle-to-Everything (V2X) technology, allowing bus batteries to generate additional power for Con Edison during peak demand or emergencies.
This demonstration aligns with First Student's commitment to transition 30,000 fossil-fueled school buses to electric by 2035. The company currently has about 2,000 electric school buses under contract across the U.S. and over 360 EVs deployed.
Consolidated Edison, Inc. (Con Edison) (NYSE: ED) has declared a quarterly dividend of 83 cents per share on its common stock. The dividend is payable on December 16, 2024 to stockholders of record as of November 13, 2024. Con Edison is one of the largest investor-owned energy-delivery companies in the U.S., with approximately $15 billion in annual revenues for the year-ended 2023 and $68 billion in assets as of June 30, 2024.
The company operates through several subsidiaries, including Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), and Con Edison Transmission, Inc. These subsidiaries provide a wide range of energy-related products and services, including electric, gas, and steam services in New York City and surrounding areas, as well as managing electric and gas assets and developing renewable energy transmission projects in the Northeast.
Consolidated Edison, Inc. (NYSE: ED) will host a clean energy presentation on October 8, 2024, from 9 a.m. to 10 a.m. Eastern Time. The event will include a Q&A session and feature senior leadership presenters, including Tim Cawley, Matt Ketschke, and Kirk Andrews. The live webcast and replay will be available at https://wsw.com/webcast/cc/ed6/1188378 and on Con Edison's Investor Relations website.
Con Edison is a major investor-owned energy-delivery company with $15 billion in annual revenues for 2023 and $68 billion in assets as of June 2024. The company operates through subsidiaries including Consolidated Edison Company of New York, Orange and Rockland Utilities, and Con Edison Transmission, providing various energy-related services across New York City, Westchester County, southeastern New York State, and northern New Jersey.
Consolidated Edison, Inc. (NYSE: ED) has announced a clean energy presentation scheduled for October 8, 2024, from 9 a.m. to 10 a.m. Eastern Time. The presentation, led by Chairman and CEO Timothy Cawley, will focus on Con Edison's strategy to support New York State's environmental goals and discuss the company's environmental, social, and governance practices.
Con Edison, one of the largest investor-owned energy-delivery companies in the U.S., reported $15 billion in annual revenues for 2023 and $68 billion in assets as of June 30, 2024. The company operates through various subsidiaries, providing electric, gas, and steam services in New York City and surrounding areas. Con Edison Transmission, Inc. also manages electric and gas assets, focusing on developing clean, renewable electricity projects in the Northeast.
Con Edison (NYSE: ED) executives will participate in investor conferences in September and October 2024. The company's investor presentation will be available on their website under the 'Presentations & Webcasts' section. Con Edison, one of the largest investor-owned energy-delivery companies in the U.S., reported $15 billion in annual revenues for 2023 and $68 billion in assets as of June 30, 2024.
The company operates through several subsidiaries, including:
- Consolidated Edison Company of New York, Inc.: Provides electric, gas, and steam services in New York City and surrounding areas
- Orange and Rockland Utilities, Inc.: Serves customers in southeastern New York State and northern New Jersey
- Con Edison Transmission, Inc.: Manages electric and gas assets, focusing on developing clean energy projects in the Northeast
Con Edison (NYSE: ED) reported 2024 second quarter net income of $202 million ($0.58 per share), down from $226 million ($0.65 per share) in Q2 2023. Adjusted earnings were $203 million ($0.59 per share), compared to $210 million ($0.61 per share) in Q2 2023. For the first six months of 2024, net income was $922 million ($2.67 per share), down from $1,658 million ($4.74 per share) in H1 2023. However, adjusted earnings increased to $945 million ($2.73 per share) from $856 million ($2.45 per share) in H1 2023.
Con Edison reaffirmed its 2024 adjusted earnings per share guidance of $5.20 to $5.40. The company highlighted its reliable electric service and investments in clean energy infrastructure. CEO Tim Cawley emphasized the company's commitment to energy equity and the clean energy transition.
Consolidated Edison, Inc. (NYSE: ED) has declared a quarterly dividend of 83 cents per share on its common stock. The dividend is payable on September 16, 2024 to stockholders of record as of August 14, 2024. Con Edison is one of the largest investor-owned energy-delivery companies in the U.S., with annual revenues of approximately $15 billion and assets of $67 billion. The company provides energy-related products and services through its subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), and Con Edison Transmission, Inc. These subsidiaries serve various regions in New York State and northern New Jersey, offering electric, gas, and steam services.
Consolidated Edison (ED) is set to report its 2nd Quarter 2024 earnings on August 1, 2024, post-market. The company, a major investor-owned energy provider, boasts annual revenues of approximately $15 billion and assets totaling $67 billion. Con Edison operates through several subsidiaries: Consolidated Edison Company of New York, Orange and Rockland Utilities, and Con Edison Transmission. These subsidiaries serve various regions including New York City, Westchester County, southeastern New York State, and northern New Jersey, providing electric, gas, and steam services. Con Edison Transmission focuses on electric transmission projects aimed at delivering renewable energy to the Northeast.
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