Consolidated Edison Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Consolidated Edison, Inc. (NYSE:ED) will unveil its latest earnings on Monday, October 31, 2011. Consolidated Edison provides electric, gas, and steam utility services to customers through its subsidiaries.

Consolidated Edison, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.33 per share, a rise of 0.8% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate moved down. It has risen from $1.31 during the last month. Analysts are projecting profit to rise by 3.8% versus last year to $3.56.

Past Earnings Performance: Last quarter, the company topped expectations by 4 cents, coming in at net income of 57 cents per share versus a mean estimate of profit of 53 cents per share. This followed two straight quarters of missing estimates.

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Wall St. Revenue Expectations: On average, analysts predict $3.98 billion in revenue this quarter, a rise of 7.3% from the year ago quarter. Analysts are forecasting total revenue of $14 billion for the year, a rise of 5.1% from last year’s revenue of $13.32 billion.

Analyst Ratings: Analysts seem relatively indifferent about Consolidated Edison with 13 of 14 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 9.7% to $168 million (56 cents a share) from $186 million (64 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 0.8% to $2.99 billion from $3.02 billion.

Key Stats:

The decrease in profit in the second quarter broke a streak of three consecutive quarters of year-over-year profit increases. Net income rose 37.1% in the first quarter, 15.2% in the fourth quarter of the last fiscal year and 4.1% in the third quarter of the last fiscal year.

Revenue has fallen for the past three quarters. Revenue fell 3.3% in first quarter from the year earlier and 4.1% in the fourth quarter of the last fiscal year.

Competitors to Watch: CH Energy Group, Inc. (NYSE:CHG), Unitil Corporation (NYSE:UTL), FirstEnergy Corp. (NYSE:FE), NiSource Inc. (NYSE:NI), CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), PG&E Corporation (NYSE:PCG), Avista Corporation (NYSE:AVA), NorthWestern Corporation (NYSE:NWE), and SCANA Corporation (NYSE:SCG).

Stock Price Performance: During August 1, 2011 to October 25, 2011, the stock price had risen $6.02 (11.5%) from $52.16 to $58.18. The stock price saw one of its best stretches over the last year between April 21, 2011 and May 4, 2011 when shares rose for nine-straight days, rising 4.6% (+$2.26) over that span. It saw one of its worst periods between July 21, 2011 and July 29, 2011 when shares fell for seven-straight days, falling 2.5% (-$1.35) over that span. Shares are up $10.29 (+21.5%) year to date.

(Source: Xignite Financials)

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