Con Ed (ED) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

Wall Street analysts forecast that Consolidated Edison (ED) will report quarterly earnings of $2.32 per share in its upcoming release, pointing to a year-over-year increase of 3.1%. It is anticipated that revenues will amount to $4.95 billion, exhibiting an increase of 3.1% compared to the year-ago quarter.

Over the last 30 days, there has been an upward revision of 3.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

That said, let's delve into the average estimates of some Con Ed metrics that Wall Street analysts commonly model and monitor.

Analysts' assessment points toward 'Operating revenues- O&R' reaching $368.83 million. The estimate points to a change of +3.6% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Operating revenues- CECONY' of $4.57 billion. The estimate suggests a change of +2.8% year over year.

Analysts expect 'Operating Income- O&R' to come in at $67.50 million. Compared to the current estimate, the company reported $62.00 million in the same quarter of the previous year.

Analysts forecast 'Operating Income- CECONY' to reach $1.10 billion. Compared to the present estimate, the company reported $1.07 billion in the same quarter last year.

Con Ed shares have witnessed a change of -4.4% in the past month, in contrast to the Zacks S&P 500 composite's +9.5% move. With a Zacks Rank #3 (Hold), ED is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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This article originally published on Zacks Investment Research (zacks.com).

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