Consolidated Edison (ED) FY2023 results: revenue $14.7 billion, down 6.4% on the year
Consolidated Edison Inc. (ED) reported revenue of $14.7 billion for fiscal 2023, the year ended 31 December 2023, down 6.4% on the year before. Net income was $2.5 billion, up 51.7%, and diluted earnings per share $7.21. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$14.7 billion
-6.4% on the year
FY2016FY2023
Operating margin
21.8%
16.7% a year earlier
FY2016FY2023
Net income
$2.5 billion
+51.7% on the year
FY2016FY2023
Diluted EPS
$7.21
+54.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,156
3,935
2,733
-45.2%
Capital expenditure
n/a
4,465
3,964
Free cash flow
n/a
-530
-1,231
Free cash flow margin
n/a
-3.4%
-9.0%
Cash from investing
-1,003
-4,565
-3,484
Cash from financing
-1,488
1,014
461
Depreciation and amortisation
2,031
2,056
2,032
-1.2%
Share-based compensation
53.0
64.0
35.0
-17.2%
Buybacks
1,000
0.0
0.0
Dividends paid
1,096
1,089
1,030
+0.6%
Dividend per share
$3.24
$3.16
$3.10
+2.5%
Diluted shares, weighted
349m
356m
349m
-1.8%
Shares outstanding at period end
345m
355m
354m
-2.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
21,158
20,687
20,037
+2.3%
Non-controlling interest
0.0
202
299
Debt
24,465
23,836
24,532
+2.6%
Operating lease liabilities
429
476
717
-9.9%
Finance lease liabilities
1.0
2.0
2.0
-50.0%
Other liabilities
20,278
23,862
17,529
-15.0%
Total liabilities and equity
66,331
69,065
63,116
-4.0%
Fixed assets
49,608
46,766
48,596
+6.1%
Goodwill
408
408
439
0.0%
Intangible assets
n/a
0.0
1,293
Investments
999
841
853
+18.8%
Cash and equivalents
1,189
1,282
992
-7.3%
Receivables
2,418
2,192
1,943
+10.3%
Other assets
11,709
17,576
9,000
-33.4%
Total assets
66,331
69,065
63,116
-4.0%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.