Utility company’s earnings decline as revenue drops

  • Con Edison’s third-quarter profit sank on lower revenues
  • Profit of $526 million, or $1.52 a share, compared to $613 million, or $1.72 a share, a year earlier
  • Adjusted per-share earnings of $1.62, beating analysts’ forecast of $1.61
  • Revenue fell to $3.87 billion from $4.17 billion a year ago

Consolidated Edison, the New York-based utility company, reported a decline in third-quarter profit due to lower revenues. The company’s profit for the quarter was $526 million, or $1.52 per share, compared to $613 million, or $1.72 per share, in the same period last year. Adjusted per-share earnings came in at $1.62, surpassing analysts’ expectations of $1.61. However, revenue fell to $3.87 billion from $4.17 billion a year ago, in line with analysts’ forecasts.

Factuality Level: 8
Factuality Justification: The article provides specific financial figures and compares them to analyst expectations, indicating a high level of factuality. The information is sourced from FactSet, a reputable financial data provider.
Noise Level: 7
Noise Justification: The article provides some relevant information about Consolidated Edison’s third-quarter profit, but it lacks analysis, context, and actionable insights. It mainly focuses on financial figures and analyst expectations without delving into the reasons behind the lower revenues or providing any long-term trends or possibilities. The article also does not explore the consequences of the company’s performance on its stakeholders or hold powerful people accountable. Overall, it lacks depth and fails to provide a thoughtful analysis or valuable information beyond the basic financial numbers.
Financial Relevance: Yes
Financial Markets Impacted: Consolidated Edison
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Consolidated Edison, a utility company. There is no mention of any extreme events or their impact.
Public Companies: Consolidated Edison (ED)
Key People:

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