WASHINGTON (dpa-AFX) - Consolidated Edison, Inc. (ED) announced the company expects its adjusted earnings for the year 2016 to be in the range of $3.85 to $4.05 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $4.06. Analysts' estimates typically exclude special items.
The company said its forecast reflects capital investments of $4.153 billion, which includes $985 million for the CEBs' renewable and energy infrastructure projects.
Con Edison plans to meet its 2016 capital requirements, including for maturing securities, through internally-generated funds and the issuance of securities. The company's plans include the issuance of $1.000 billion to $1.500 billion of long-term debt at its utility subsidiaries and the issuance of additional debt secured by its renewable electric production projects. The company's plans also include the issuance of up to $200 million of common equity in addition to equity through its dividend reinvestment, employee stock purchase and long-term incentive plans.
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