Consolidated Edison Inc. ED reported fourth-quarter 2019 adjusted earnings of 86 cents per share, which surpassed the Zacks Consensus Estimate of 79 cents by 8.9%.Including one-time adjustments, the company posted GAAP earnings of 88 cents per share, reflecting 16.2% year-over-year decline. This downside can be attributed to lower operating income recorded in the reported quarter.For 2019, the company recorded earnings of $4.38 per share, which surpassed the Zacks Consensus Estimate of $4.31. The full-year top line rose 1.2% year over year.Consolidated Edison Inc Price, Consensus and EPS Surprise Consolidated Edison Inc price-consensus-eps-surprise-chart | Consolidated Edison Inc QuoteTotal RevenuesIn the reported quarter, the company’s total revenues of $2,951 million missed the Zacks Consensus Estimate of $3,033 million by 2.7%. The top line was almost flat when compared with $2,949 million in the year-ago quarter.For 2019, the company’s total revenues of $12.57 billion missed the Zacks Consensus Estimate of $12.64 billion by 0.6%. The full year top line rose 1.9% when compared to $12.34 billion in the prior year.Electric revenues totaled $2,029 million in the fourth quarter, up 1.4% from the prior-year quarter’s $2,001 million. Gas revenues remained flat year over year at $601 million. Steam revenues inched up 0.6% to $158 million.Meanwhile, non-utility revenues amounted to $164 million, down 13.7% from $190 million in the year-earlier quarter.Operating StatisticsTotal operating expenses in the fourth quarter declined 1.5% year over year to $2,386 million.Purchase power, fuel, gas purchased for resale along with other operations and maintenance expenses decreased 3.9%, 30.6%, 31.7 and 1.2%, respectively, from the prior-year quarter numbers. However, depreciation and amortization expenses as well as tax, other than income taxes, increased 14.6% and 8.4% year over year, respectively. FinancialsCash and temporary cash investments as of Dec 31, 2019 were $981 million compared with $895 million as of Dec 31, 2018.Long-term debt was $18,527 million as of Dec 31, 2019, compared with $17,495 million at 2018 end.At the end of 2019, cash from operating activities amounted to $3,134 million compared with $2,695 in the prior year.2020 GuidanceFor 2020, the company expects to generate adjusted earnings per share in the range of $4.30-$4.50. The Zacks Consensus Estimate for full-year earnings is pegged at $4.49, closer to the upper end of the company guided range.Zacks RankConsolidated Edison currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Utility ReleasesDuke Energy Corporation DUK reported fourth-quarter 2019 adjusted earnings of 91 cents per share, which surpassed the Zacks Consensus Estimate of 88 cents by 3.4%.NextEra Energy NEE reported fourth-quarter 2019 adjusted earnings of $1.44 per share, which lagged the Zacks Consensus Estimate of $1.54 by 6.5%.Dominion Energy D reported fourth-quarter 2019 operating earnings of $1.18 per share, which beat the Zacks Consensus Estimate of $1.16 by 1.7%.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Consolidated Edison Inc (ED): Free Stock Analysis Report Dominion Energy Inc. (D): Free Stock Analysis Report Duke Energy Corporation (DUK): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research