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Con Edison net income $1,101 million

Christian Fernsby |
Consolidated Edison (Con Edison) yesterday reported 2020 net income for common stock of $1,101 million or $3.29 a share compared with $1,343 million or $4.09 a share in 2019.

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Topics: CON EDISON   

Adjusted earnings were $1,399 million or $4.18 a share in 2020 compared with $1,438 million or $4.38 a share in 2019.

Adjusted earnings and adjusted earnings per share in 2020 exclude the impact of the impairment loss related to Con Edison's investment in Mountain Valley Pipeline, LLC.

Adjusted earnings and adjusted earnings per share in 2020 and 2019 exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments in certain renewable electric production projects of Con Edison Clean Energy Businesses, Inc.

(the Clean Energy Businesses) and the net mark-to-market effects of the Clean Energy Businesses.

For the fourth quarter of 2020, net income for common stock was $43 million or $0.13 a share compared with $295 million or $0.89 a share in 2019.

Adjusted earnings were $253 million or $0.75 a share in the 2020 period compared with $288 million or $0.87 a share in the 2019 period.

Adjusted earnings and adjusted earnings per share in the 2020 period exclude the impact of the impairment loss related to Con Edison's investment in Mountain Valley Pipeline, LLC.

Adjusted earnings and adjusted earnings per share in the 2020 and 2019 periods exclude the effects of HLBV accounting for tax equity investments in certain renewable electric production projects of the Clean Energy Businesses and the net mark-to-market effects of the Clean Energy Businesses.


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