NYSE$ED
Consolidated Edison Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Con Edison reported mixed results for Q4 2020, with net income decreasing but adjusted earnings showing a smaller decline.
Con Edison's Q4 2020 net income was $43 million, or $0.13 per share, a decrease from $295 million, or $0.89 per share, in Q4 2019. Adjusted earnings were $253 million, or $0.75 per share, compared to $288 million, or $0.87 per share, in the prior year. The results were impacted by an impairment loss related to the Mountain Valley Pipeline investment.
- Q4 2020 net income decreased to $43 million, or $0.13 per share, compared to Q4 2019.
- Adjusted earnings for Q4 2020 were $253 million, or $0.75 per share, a decrease from the previous year.
- The company's results were affected by an impairment loss related to its investment in Mountain Valley Pipeline, LLC.
- Con Edison expects its adjusted earnings per share for 2021 to be in the range of $4.15 to $4.35.
Headline financials
Revenue & EPS history
ConEd · Revenue · Quarterly
$2.96B
Revenue by segment
ConEd · $171M total across 1 segment · Q4 2020
- Non-utility$171M+4.3%100.0%
Forward guidance
Con Edison expects its adjusted earnings per share to be in the range of $4.15 to $4.35 a share for the year of 2021. The company is also forecasting a five-year compounded annual adjusted earnings per share growth rate of 4% to 6% based off 2021 adjusted earnings per share guidance.
Tailwinds
- Adjusted earnings per share to be in the range of $4.15 to $4.35 a share for 2021.
- Five-year compounded annual adjusted earnings per share growth rate of 4% to 6% based off 2021 adjusted earnings per share guidance.
- Capital investments of $4,018 million in 2021.
- Capital investments of $8,114 million in aggregate for 2022 and 2023.
- Planned debt issuance is in addition to the issuance of long-term debt secured by the Clean Energy Businesses’ renewable electric production projects.
Headwinds
- Adjusted earnings per share exclude the effects of HLBV accounting for tax equity investments in certain of the Clean Energy Businesses' renewable electric production projects (approximately $0.16 a share).
- Adjusted earnings per share also exclude the Clean Energy Businesses' net mark-to-market effects, the amount of which will not be determinable until year end.
- Forecast reflects operations and maintenance expenses of $3,292 million.
- The company's plans include the issuance of between $1,900 million and $2,600 million of long-term debt, including for maturing securities, primarily at the Utilities, in 2021 and approximately $1,400 million in aggregate of long-term debt at the Utilities during 2022 and 2023.
- The company's plans also include the issuance of up to $800 million of common equity in 2021 and approximately $700 million in aggregate of common equity during 2022 and 2023, in addition to equity under its dividend reinvestment, employee stock purchase and long-term incentive plans.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+0.2%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.5%
Avg return
30 days after
60%
41 / 68 earnings
Positive
+4.4%
Q2 2024
Best reaction
-6.0%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.8% | -0.5% | -0.1% | |
| Q4 2025 | -1.0% | -0.8% | -2.2% | |
| Q3 2025 | +1.7% | +3.3% | -0.4% | |
| Q2 2025 | -0.5% | -1.3% | -6.6% | |
| Q1 2025 | -2.4% | -1.4% | -7.2% | |
| Q4 2024 | +2.6% | +4.4% | +12.6% | |
| Q3 2024 | -0.8% | -1.9% | -4.2% | |
| Q2 2024 | +4.4% | +3.5% | +4.1% | |
| Q1 2024 | +0.8% | +2.8% | -0.3% | |
| Q4 2023 | +0.6% | +0.9% | +2.4% | |
| Q3 2023 | +1.0% | +0.4% | +2.8% | |
| Q2 2023 | -4.3% | -2.3% | -5.3% | |
| Q1 2023 | +1.5% | +0.7% | -6.4% | |
| Q4 2022 | +2.2% | +1.7% | +4.9% | |
| Q3 2022 | +2.1% | +0.1% | +10.4% | |
| Q2 2022 | -0.9% | +0.8% | +0.4% | |
| Q1 2022 | +0.5% | -0.9% | +4.7% | |
| Q4 2021 | +4.4% | +4.5% | +9.4% | |
| Q3 2021 | +1.6% | +1.1% | +4.6% | |
| Q2 2021 | +0.9% | +2.0% | +1.9% | |
| Q1 2021 | +1.6% | +3.2% | +0.5% | |
| Q4 2020 | -2.8% | -3.5% | +3.1% | |
| Q3 2020 | -2.2% | +3.2% | -5.3% | |
| Q2 2020 | +2.0% | -0.5% | -0.8% | |
| Q1 2020 | -0.3% | -3.8% | +1.3% | |
| Q4 2019 | -3.9% | -6.0% | -22.7% | |
| Q3 2019 | -3.1% | -3.5% | -4.8% | |
| Q2 2019 | +1.4% | +2.0% | +4.6% | |
| Q1 2019 | +0.9% | -0.0% | +1.3% | |
| Q4 2018 | +3.9% | +3.0% | +7.5% | |
| Q3 2018 | -1.9% | +1.6% | +5.7% | |
| Q2 2018 | +1.7% | +1.0% | +1.5% | |
| Q1 2018 | +0.0% | -3.8% | -4.7% | |
| Q4 2017 | +2.5% | +0.6% | +2.1% | |
| Q3 2017 | +1.4% | +2.2% | +3.5% | |
| Q2 2017 | +0.1% | +1.6% | +1.6% | |
| Q1 2017 | +1.3% | +0.1% | +6.1% | |
| Q4 2016 | -0.3% | +1.1% | +4.0% | |
| Q3 2016 | -0.1% | +2.0% | -5.6% | |
| Q2 2016 | -1.5% | -1.0% | -4.2% | |
| Q1 2016 | -2.7% | — | — | |
| Q4 2015 | +1.3% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | +2.7% | — | — | |
| Q1 2015 | -0.0% | — | — | |
| Q4 2014 | -2.5% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | +3.9% | — | — | |
| Q1 2014 | -2.8% | — | — | |
| Q4 2013 | +1.0% | — | — | |
| Q3 2013 | -0.1% | — | — | |
| Q2 2013 | +0.8% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q3 2012 | -2.4% | — | — | |
| Q2 2012 | +0.3% | — | — | |
| Q1 2012 | +0.1% | — | — | |
| Q4 2011 | -0.0% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2011 | -2.6% | — | — | |
| Q4 2010 | +0.2% | — | — | |
| Q1 2011 | +0.7% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q4 2009 | +1.6% | — | — | |
| Q2 2010 | +1.6% | — | — | |
| Q1 2010 | +0.5% | — | — | |
| Q2 2009 | -0.9% | — | — | |
| Q3 2009 | +0.5% | — | — |
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