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Consolidated Edison Inc Issues FY 2013 EPS Guidance In Line With Analysts' Estimates; Declares Dividend


Thursday, 31 Jan 2013 07:11pm EST 

Consolidated Edison Inc announced that fiscal 2013, it expects earnings per share (EPS) from ongoing operations to be in the range of $3.65 to $3.85. This forecast reflects, among other things, estimated costs relating to Superstorm Sandy that the utility subsidiaries expect to incur in 2013 to restore their energy systems to normal operating condition and that new rate plans are not expected to become effective until fiscal 2014. The forecast excludes an estimated $0.50 to $0.60 per share charge relating to the disallowance of tax deductions associated with its lease in/lease out transactions discussed above and the net mark-to-market effects of the CEBs. According to I/B/E/S Estimates analysts' are expecting the Company to report EPS of $3.77 for fiscal 2013. The Company also announced that it is increasing its quarterly dividend of 61 1/2 cents a share on its common stock, payable March 15, 2013 to shareholders of record as of February 13, 2013. 

Company Quote

56.4
-0.2 -0.35%
4:04pm EDT