Core Insights - Consolidated Edison, Inc. reported a net income of $588 million or $1.70 per share for Q3 2024, an increase from $526 million or $1.53 per share in Q3 2023 [1] - For the first nine months of 2024, net income was $1,510 million or $4.37 per share, down from $2,185 million or $6.27 per share in the same period of 2023 [2] - Adjusted earnings for Q3 2024 were $583 million or $1.68 per share, compared to $561 million or $1.62 per share in Q3 2023 [1] - The company expects adjusted earnings per share for 2024 to be in the range of $5.30 to $5.40, revised from the previous range of $5.20 to $5.40 [3] Financial Performance - The adjusted earnings for the first nine months of 2024 were $1,528 million or $4.42 per share, compared to $1,416 million or $4.07 per share in the same period of 2023 [2] - The adjusted earnings exclude the effects of hypothetical liquidation at book value accounting for tax equity investments and adjustments related to the sale of the Clean Energy Businesses [2][3] - The company reported a total of approximately $15 billion in annual revenues for year-end 2023 and $69 billion in assets as of September 30, 2024 [9] Strategic Initiatives - The company is focusing on investments in clean energy infrastructure and energy-efficient solutions, which have helped manage electric demand during peak periods [3] - Con Edison is facilitating the transition to electrification by making it easier to install EV chargers and providing incentives for heat pump installations [3] - The company aims to enhance its infrastructure to improve resilience against climate change while supporting New York's clean energy transition [3]
CON EDISON REPORTS 2024 THIRD QUARTER EARNINGS