Consolidated Edison, Inc. reported net income for common stock of $588 million, or $1.70 per share, for the third quarter of 2024. This represents an increase from $526 million, or $1.53 per share, reported in the same period of 2023. Adjusted earnings for the quarter were $583 million, or $1.68 per share, compared to $561 million, or $1.62 per share, in the prior year.
For the first nine months of 2024, net income for common stock was $1,510 million, or $4.37 per share, while adjusted earnings reached $1,528 million, or $4.42 per share. The company's chairman and CEO, Tim Cawley, highlighted continued investment in clean energy infrastructure and energy-efficient solutions as core to its growth strategy, noting that programs eased electric demand during the summer.
Con Edison narrowed and revised its 2024 adjusted earnings per share guidance to the upper half of its original range, now expecting $5.30 to $5.40 per share, up from the previous forecast of $5.20 to $5.40 per share. CFO Kirk Andrews stated that this revision reflects solid third-quarter results and financial performance year-to-date, driven by ongoing investments to enable New York's clean energy transition and upgrade infrastructure.
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