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Consolidated Edison




Consolidated Edison, Inc. is one of the nation’s largest investor-owned energy companies, with around 12 billion dollars in annual revenues and 25 billion dollars in assets. It is a publicly traded company having a good stock performance result. Consolidated Edison is a fortune 500 stock listed company trading under ED.
 
Consolidated Edison offers a broad range of energy-related products and services to its customers through its subsidiaries such as Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service to New York City and Westchester County, New York.
 
Con Edison’s net income for common stock for the three months ended June 30, 2005 was 115 million dollars or 0.47 dollars a share compared with earnings of 86 million dollars or 0.37 dollars a share for the three months ended June 30, 2004. Net income for common stock for the six months ended June 30, 2005 was 297 million dollars or 1.22 dollars a share compared with earnings of 241 million dollars or 1.05 dollars a share for the six months ended June 30, 2004.
 
Con Edison’s cash flows from financing activities for the six months ended June 30, 2005 and 2004, replicate the issuance of Con Edison common shares through its dividend reinvestment and employee stock plans for 2005 being 1,424,700 shares for 41 million dollars, for 2004 being 1,486,144 shares for 37 million dollars, and for the 2004 period, the issuance through a public offering of 14 million shares resulting in net earnings of 513 million dollars. In addition, as a result of dividend reinvestment under the stock plans, stock instead of cash was used to pay common stock dividends of 20 million dollars and 19 million dollars in the 2005 and 2004 periods, respectively.
 
The Companies’ results of operations for the three and six months ended June 30, 2005 reflect higher net revenues resulting from growth. Their investments will facilitate them to maintain high levels of dependability, build their equity base, and supply a source of future earnings growth.
 
 

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