Consolidated Edison (ED) Revenue — Quarter Ended Jun 30, 2023
Revenue declined sharply in the quarter. The company's filing context notes inflationary pressure and higher interest rates, which have increased capital needs.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue declined sharply in the quarter. The company's filing context notes inflationary pressure and higher interest rates, which have increased capital needs.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.8B
Revenue reported for this quarter.
Quarter-over-quarter
-34.3%
Change from the immediately preceding quarter.
Year-over-year
-18.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$15.1B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $4.2B | +13.7% |
| Dec 31, 2022 | $4B | +21.8% |
| Mar 31, 2023 | $4.2B | +6.8% |
| Jun 30, 2023 | $2.8B | -18.0% |
Revenue performance
The reported revenue represents a substantial decrease from the immediately preceding quarter. This decline marks a notable shift from the growth trend observed in the prior three quarters.
Quarterly comparison
Compared to the same quarter one year earlier, revenue was also lower. The sequential decline from the previous quarter was steeper than the year-over-year decrease.
What to watch
The company's liquidity discussion points to inflationary pressures and higher interest rates as factors increasing capital needs, alongside pandemic-related impacts on customer receivable collections.