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E conEdison , inc . FOR IMMEDIATE RELEASE November 4 , 2021 Media Relations 212 460 4111 ( 24 hours ) Consolidated Edison , Inc. 4 Irving Place New York , NY 10003 www.conEdison.com Contact : Allan Drury 212-460-4111 CON EDISON REPORTS 2021 THIRD QUARTER EARNINGS NEW YORK - Consolidated Edison , Inc. ( Con Edison ) ( NYSE : ED ) today reported 2021 third quarter net income for common stock of $ 538 million or $ 1.52 a share compared with $ 493 million or $ 1.47 a share in the 2020 third quarter . Adjusted earnings were $ 499 million or $ 1.41 a share in the 2021 period compared with $ 495 million or $ 1.48 a share in the 2020 period . 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 . Adjusted earnings and adjusted earnings per share for the 2021 period exclude the tax impact on the parent company of HLBV accounting and mark - to - market effects of the Clean Energy Businesses . For the first nine months of 2021 , net income for common stock was $ 1,122 million or $ 3.23 a share compared with $ 1,058 million or $ 3.17 a share in the first nine months of 2020. Adjusted earnings were $ 1,174 million or $ 3.39 a share in the 2021 period compared with $ 1,147 million or $ 3.43 a share in the 2020 period . Adjusted earnings and adjusted earnings per share in the 2021 period exclude the impact of the impairment losses related to Con Edison's investment in Stagecoach Gas Services LLC ( Stagecoach ) and the loss from the sale of a renewable electric production project . Adjusted earnings and adjusted earnings per share in the 2021 and 2020 periods exclude the effects of HLBV accounting for tax equity investments in certain renewable and sustainable electric production projects of the Clean Energy Businesses and the net mark - to - market effects of the Clean Energy Businesses . Adjusted earnings and adjusted earnings per share for the 2021 period exclude the tax impact on the parent company of HLBV accounting and mark - to - market effects of the Clean Energy Businesses . " Our energy systems delivered world class reliability this summer . In response to several storm events and heat waves , our team efficiently restored affected customers and are managing the costs of these efforts , " said Timothy P. Cawley , the president and chief executive of Con Edison . " Protecting our customers from climate change makes our forward - looking approach , integrated planning , and robust investments more critical than ever . Meanwhile , we continue to lead the transition to a clean energy future , evidenced during the quarter by our solicitation for large energy storage projects which will allow our customers to maximize the benefits of renewable energy . " 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 losses related to Con Edison's investment in Stagecoach ( $ ( 0.43 ) a share after - tax ) , the loss from the sale of a renewable electric production project ( $ ( 0.01 ) 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 $ 0.31 a share after - tax ) , the related tax impact of such HLBV accounting on the parent company ( approximately $ ( 0.03 ) a share ) , the net mark - to - market effects of the Clean Energy Businesses and the related tax impact of such mark - to - market effects on the parent company , the amounts of which will not be determinable until year end . 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 and nine months ended September 30 , 2021 and 2020. See Attachments B and C for the estimated effect of major factors resulting in variations in earnings per share and net income for common stock for the three and nine months ended September 30 , 2021 compared to the 2020 period . -more The company's 2021 Third Quarter Form 10 - Q is being filed with the Securities and Exchange Commission . A third quarter 2021 earnings release presentation will be available at www.conedison.com . ( Select " For Investors " and then select " Press Releases . " )