Consolidated Edison (ED) Revenue — Quarter Ended Mar 31, 2024
Revenue in the first quarter rose, reflecting a notable sequential increase from the prior quarter. Year over year, revenue also improved, though the growth was more moderate.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue in the first quarter rose, reflecting a notable sequential increase from the prior quarter. Year over year, revenue also improved, though the growth was more moderate.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.3B
Revenue reported for this quarter.
Quarter-over-quarter
+18.0%
Change from the immediately preceding quarter.
Year-over-year
+1.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$14.5B
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 |
|---|---|---|
| Jun 30, 2023 | $2.8B | -18.0% |
| Sep 30, 2023 | $3.9B | -7.4% |
| Dec 31, 2023 | $3.6B | -8.2% |
| Mar 31, 2024 | $4.3B | +1.4% |
Revenue performance
The quarter's revenue was higher than the preceding quarter, marking a strong sequential rebound. Compared with the same period last year, revenue posted a modest gain.
Quarterly comparison
The sequential improvement reversed the downward trend seen in earlier quarters. The year-over-year increase, while positive, was less pronounced than the sequential move.
What to watch
The company's involvement in competitive transmission solicitations could affect future capital expenditure plans.