Summary
Consolidated Edison, Inc. (Con Edison) reported its 2016 fiscal year results, highlighting a stable performance primarily driven by its regulated utility operations in New York City and Westchester County, managed through its subsidiary Consolidated Edison Company of New York (CECONY), and in southeastern New York and northern New Jersey through Orange and Rockland Utilities (O&R). The company continues to invest in infrastructure modernization and clean energy initiatives as part of its "Reforming the Energy Vision" (REV) strategy, aimed at improving efficiency and reliability while embracing distributed energy resources. Con Edison's Clean Energy Businesses also contributed to earnings, particularly through its growing portfolio of renewable energy projects. Financially, Con Edison demonstrated resilience, with its core utility businesses providing a steady stream of revenue and cash flow. The company's commitment to shareholder value is evident in its continued dividend growth. Investments in transmission infrastructure and clean energy projects signal a forward-looking strategy to adapt to evolving energy landscapes and regulatory frameworks, positioning the company for long-term sustainable growth. The company also reported on its capital expenditures, which were significant for infrastructure upgrades and new investments, funded through a combination of operating cash flow and debt.
Financial Highlights
48 data points| Revenue | $12.07B |
| R&D Expenses | $24.00M |
| Operating Expenses | $9.40B |
| Operating Income | $2.78B |
| Interest Expense | $678.00M |
| Net Income | $1.25B |
| EPS (Basic) | $4.15 |
| EPS (Diluted) | $4.12 |
| Shares Outstanding (Basic) | 300.40M |
| Shares Outstanding (Diluted) | 301.90M |
Key Highlights
- 1Consolidated Edison, Inc. (Con Edison) operates primarily as a regulated utility holding company with core businesses in electric, gas, and steam delivery services in New York.
- 2The company is actively engaged in the "Reforming the Energy Vision" (REV) initiative in New York, focusing on grid modernization, clean energy, and distributed energy resources.
- 3Con Edison Clean Energy Businesses demonstrates growth in renewable energy projects, including solar generation.
- 4The company is making substantial capital investments in infrastructure, including transmission projects and upgrades to its distribution systems for electric, gas, and steam utilities.
- 5Con Edison maintains a strong focus on reliability and safety, with ongoing investments to maintain and improve its extensive network of facilities.
- 6The company's financial performance is underpinned by its regulated utility operations, providing stable revenue streams and supporting consistent dividend payments to shareholders.
- 7The sale of the retail electric supply business by Con Edison Solutions was completed in September 2016, impacting operating revenues but streamlining the Clean Energy Businesses segment.