NYSE$ED
Consolidated Edison Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Con Edison reported mixed results for Q4 2022, with a decrease in net income but progress in clean energy initiatives.
Consolidated Edison, Inc. reported a decrease in net income for the fourth quarter of 2022, with $190 million or $0.53 a share, compared to $224 million or $0.63 a share in the 2021 period. Adjusted earnings were $288 million or $0.81 a share in the 2022 period compared with $355 million or $1.00 a share in the 2021 period. The company made tremendous progress in 2022 in energy efficiency, new EV charger installations and customer solar projects.
- Net income for common stock was $190 million or $0.53 a share, down from $224 million or $0.63 a share in Q4 2021.
- Adjusted earnings were $288 million or $0.81 a share, compared to $355 million or $1.00 a share in Q4 2021.
- The 2021 period includes revenue recorded for late payment charges and fees at Consolidated Edison Company of New York, Inc. that were suspended during 2020 and 2021.
- Con Edison expects its adjusted earnings per share to be in the range of $4.75 to $4.95 per share for the year of 2023.
Headline financials
Revenue & EPS history
ConEd · Revenue · Quarterly
$4.03B
Revenue by segment
ConEd · $462M total across 1 segment · Q4 2022
- Non-utility$462M+92.5%100.0%
Forward guidance
Con Edison expects its adjusted earnings per share to be in the range of $4.75 to $4.95 per share for the year of 2023. The company also forecasts a five-year compounded annual adjusted earnings per share growth rate of 5% to 7% based on its 2023 adjusted earnings per share guidance. Con Edison expects to make capital investments of $4,809 million in 2023.
Tailwinds
- Adjusted earnings per share to be in the range of $4.75 to $4.95 per share for 2023.
- Five-year compounded annual adjusted earnings per share growth rate of 5% to 7%.
- Capital investments of $4,809 million in 2023.
- Repay $1,250 million of parent company debt in 2023.
- Repurchase up to $1,000 million of its common shares.
Headwinds
- Adjusted earnings per share exclude the expected gain and other impacts related to the anticipated sale of the Clean Energy Businesses.
- Adjusted earnings per share also exclude the effects of HLBV accounting for tax equity investments and the related tax impact on the parent company (approximately $(0.02) a share after-tax).
- Forecast reflects other operations and maintenance expenses of $2,860 million.
- Plans on issuing up to $900 million of common equity in 2025.
- The company's plans also include the issuance of up to $1,400 million of long-term debt at the Utilities in 2023 and approximately $2,600 million in aggregate, including for maturing securities, at the Utilities during 2024 and 2025.
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 2022
+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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro