Consolidated Edison, Inc. - ED STOCK NEWS

Consolidated Edison, Inc. (NYSE: ED) announced a quarterly dividend of 81 cents per share, payable on June 15, 2023, to stockholders of record by May 17, 2023.

With approximately $16 billion in annual revenues and $69 billion in assets as of December 31, 2022, Con Edison is one of the country's largest investor-owned energy delivery companies.

The company, through its subsidiaries, provides electric service in New York City, natural gas service in areas including Manhattan and The Bronx, and steam service in Manhattan. Con Edison also focuses on developing clean, renewable electricity solutions in the Northeast and Midwest regions.

On March 23, 2023, Princeton Identity announced the deployment of its Iris-on-the-Move biometric identity solution by Consolidated Edison Inc (ED). This technology meets the Federal Energy Regulatory Commission's Critical Infrastructure Protection Standards, enhancing security without physical contact. The Iris-on-the-Move system integrates compact Access 200 readers with user-friendly IDS software, allowing for quick user enrollment. Facility Security Officer Scott Gross emphasized the convenience and rigorous security compliance of this touchless technology, which addresses high-security requirements in the utility sector.

On March 17, 2023, Consolidated Edison, Inc. (NYSE: ED) announced that Chairman & CEO Tim Cawley will engage with investors in Europe from March 20-24, 2023. During these meetings, the company plans to discuss its recent Q4 and FY 2022 financial results and outline its business strategy focused on a clean energy future. Con Edison is one of the largest investor-owned energy-delivery companies in the U.S., with approximately $16 billion in annual revenues and $69 billion in assets as of December 31, 2022. More information can be found in the investor presentation available on their website.

Consolidated Edison (NYSE: ED) has announced a $1 billion accelerated share repurchase agreement to buy back its common shares. The funding will come from proceeds from the sale of Con Edison Clean Energy Businesses, Inc. Con Edison will make a payment of $1 billion to dealers on March 7, 2023, receiving approximately 8.7 million shares in return. The final number of shares purchased will depend on the volume-weighted average share price during the transaction's term, minus a discount. The settlement is expected by the third quarter of 2023.

On March 1, 2023, Consolidated Edison, Inc. (NYSE:ED) announced the successful sale of its wholly-owned subsidiary, Con Edison Clean Energy Businesses, Inc., to RWE Renewables Americas, LLC. The transaction is valued at $6.8 billion. This strategic move allows Con Edison to focus on its core operations in New York while supporting the transition to clean energy through substantial investments in electrification, energy efficiency, and electric vehicle infrastructure. The company aims to secure state approval for utility-owned renewable generation projects to aid New York's clean energy objectives.

Con Edison (NYSE: ED) announced that its executives will engage with investors during three upcoming conferences. The presentation materials will be accessible online. Key attendees include Matthew Ketschke, Steven Parisi, Joseph Miller, Yukari Saegusa, Timothy P. Cawley, and Robert Hoglund, participating in events from February 27 to March 1, 2023, in New York City and Boston. Consolidated Edison is a major energy-delivery company with approximately $16 billion in annual revenues and $69 billion in assets, offering a variety of energy-related services through its subsidiaries, including electric, gas, and steam services in New York.

Consolidated Edison (NYSE: ED) reported a strong financial performance in 2022, achieving a net income of $1,660 million, or $4.68 per share, a notable increase from $1,346 million, or $3.86 per share in 2021. Adjusted earnings also rose to $1,620 million, or $4.57 per share. However, Q4 2022 showed a decline, with net income dropping to $190 million, or $0.53 per share compared to $224 million, or $0.63 per share in Q4 2021. Looking ahead, the company projects 2023 adjusted earnings per share between $4.75 and $4.95 and anticipates significant capital investments totaling $4,809 million. The planned sale of its Clean Energy Businesses is a key factor in future financial strategies.

Con Edison executives, Vicki Kuo and Lisa Primeggia, will participate in a panel on Electric Vehicles and the Grid hosted by RBC Capital Markets. The virtual event is scheduled for February 9, 2023, at 9 a.m. EST. Con Edison, a major energy provider, serves 3.5 million customers in New York City and Westchester County, generating approximately $14 billion in annual revenues. The company emphasizes its commitment to energy solutions and efficiency. Interested participants can register for the event through a provided link.

Consolidated Edison, Inc. (NYSE: ED) is set to report its 2022 earnings on February 16, 2023, after market closure. This company, one of the largest investor-owned energy delivery firms in the U.S., boasts approximately $14 billion in annual revenues and $66 billion in assets. Through its subsidiaries, including Con Edison Company of New York, it provides a range of energy services across New York City, Westchester County, and parts of New Jersey. The press release outlines the company’s focus on transitioning to clean, renewable energy, particularly through its investment in electric transmission projects.