UPDATE: Consolidated Edison Q1 Adj EPS $2.15 Beats $1.88 Estimate, Sales $4.28B Miss $4.40B Estimate
Portfolio Pulse from Benzinga Newsdesk
Consolidated Edison (NYSE:ED) reported Q1 adjusted EPS of $2.15, surpassing the $1.88 estimate, marking a 17.49% year-over-year increase. However, their sales of $4.28B fell short of the $4.40B estimate, a 2.79% decrease from the previous year.
May 02, 2024 | 9:48 pm
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Consolidated Edison reported a strong Q1 EPS of $2.15, beating estimates, but sales missed expectations at $4.28B.
The positive earnings surprise could provide short-term support to ED's stock price, reflecting operational efficiency and profitability. However, the miss on sales forecasts may temper investor enthusiasm, suggesting potential challenges in revenue growth or market conditions. The mixed results lead to a neutral short-term outlook, as the positive earnings impact may be offset by concerns over sales performance.
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