Consolidated Edison Inc. ED posted first-quarter 2016 adjusted earnings of $1.18 per share, missing the Zacks Consensus Estimate of $1.22 by 3.3%. Reported earnings also decreased 5.6% from the year-ago figure of $1.25 per share due to lower sales.Total RevenueConsolidated Edison reported total revenue of $3,156 million in the first quarter of 2016, which fell short of the Zacks Consensus Estimate of $3,269 million by 3.5%. Reported revenues were also down 12.7% year over year.Electric revenues were $1,912 million in the reported quarter, down from the prior-year figure of $2,135 million. Gas revenues were down 7.7% to $676 million. Steam revenues decreased 31.2%, while non-utility revenues declined 17.1% to $310 million.Operating StatisticsTotal operating expenses in the quarter decreased 13% to $2,514 million due to lower purchase power, fuel, and gas purchased for resale expenses along with lower operations and maintenance expenses.While depreciation and amortization and taxes other than income taxes increased a respective 6.5% and 2.6%, purchase power, fuel, and gas purchased for resale expenses decreased 21.8%, 53.9% and 39.7%, respectively.FinancialsCash and temporary cash investments, as of Mar 31, 2016, were $61 million compared with $944 million as of Dec 31, 2015. Net cash flow from operating activity in the quarter was $524 million, compared with $559 million a year ago.Long-term debt was $12,222 million as of Mar 31, 2016, up from $12,006 million at 2015 end.GuidanceFor 2016, the company reaffirmed its earnings guidance in the range of $3.85 to $4.05 per share.Peer ReleasesCMS Energy Corp. CMS reported first-quarter 2016 adjusted earnings per share of 59 cents, missing the Zacks Consensus Estimate of 68 cents by 13.2%. Quarterly earnings also plunged 19.2% from the year-ago figure of 73 cents.DTE Energy Company DTE reported first-quarter 2016 operating earnings per share of $1.52, in line with the Zacks Consensus Estimate. Reported earnings, however, dropped 7.9% from the year-ago figure of $1.65.Hawaiian Electric Industries Inc. HE reported adjusted earnings of 31 cents per share in the first quarter of 2016, missing the Zacks Consensus Estimate of 37 cents by 16.2%. Earnings also dropped 11.4% from the year-ago adjusted number of 35 cents.Zacks RankConsolidated Edison currently has a Zacks Rank #3 (Hold).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 >>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 CMS ENERGY (CMS): Free Stock Analysis Report HAWAIIAN ELEC (HE): Free Stock Analysis Report CONSOL EDISON (ED): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research