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E conEdison , inc . FOR IMMEDIATE RELEASE May 6 , 2021 Media Relations 212 460 4111 ( 24 hours ) Contact : Consolidated Edison , Inc. 4 Irving Place New York , NY 10003 www.conEdison.com Robert McGee 212-460-4111 CON EDISON REPORTS 2021 FIRST QUARTER EARNINGS NEW YORK - Consolidated Edison , Inc. ( Con Edison ) ( NYSE : ED ) today reported 2021 first quarter net income for common stock of $ 419 million or $ 1.23 a share compared with $ 375 million or $ 1.13 a share in the 2020 first quarter . Adjusted earnings were $ 491 million or $ 1.44 a share in the 2021 period compared with $ 451 million or $ 1.35 a share in the 2020 period . Adjusted earnings and adjusted earnings per share in the 2021 period exclude the impact of the impairment loss related to Con Edison's investment in Stagecoach Gas Services , LLC ( Stagecoach ) . Adjusted earnings and adjusted earnings per share in the 2021 and 2020 periods exclude the effects of hypothetical liquidation at book value ( HLBV ) accounting for tax equity investments in certain renewable and sustainable 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 . " Con Edison is leading the way to a clean energy future with its investments in renewable energy , electric vehicle infrastructure , and energy efficiency , " said Timothy P. Cawley , the company's president and chief executive officer . " Delivering energy safely and reliably is always a top priority , and our workforce continues to provide value for shareholders and all New Yorkers during this challenging time . " For the year of 2021 , Con Edison reaffirmed its previous forecast of adjusted earnings per share to be in the range of $ 4.15 to $ 4.35 per share . Adjusted earnings per share exclude the impact of the impairment loss related to Con Edison's investment in Stagecoach ( ( $ 0.35 ) a share after - tax ) , the effects of HLBV accounting for tax equity investments in certain renewable and sustainable electric production projects of the Clean Energy Businesses ( approximately $ 0.23 a share after - tax ) and the net mark - to - market effects of the Clean Energy Businesses , the amount of which will not be determinable until year end . -more See Attachment A to this press release for a reconciliation of Con Edison's reported earnings per share to adjusted earnings per share and reported net income for common stock to adjusted earnings for the three months ended March 31 , 2021 and 2020. See Attachment B for the estimated effect of major factors resulting in variations in earnings per share and net income for common stock for the three months ended March 31 , 2021 compared to the 2020 period . The company's 2021 First Quarter Form 10 - Q is being filed with the Securities and Exchange Commission . A first quarter 2021 earnings release presentation will be available at www.conedison.com . ( Select " For Investors " and then select " Press Releases . " )