Consolidated Edison Inc. ED reported second-quarter 2018 adjusted earnings of 61 cents per share, which surpassed the Zacks Consensus Estimate of 57 cents by 7%. The bottom line also improved 5.2% from 58 cents per share in the year-ago period.Barring a one-time benefit, the company posted GAAP earnings of 60 cents per share, reflecting an annual improvement of 5.3%. The year-over-year upside was driven by higher revenues.Total RevenuesIn the reported quarter, total revenues of $2,696 million outpaced the Zacks Consensus Estimate of $2,642 million by 2%. The reported figure improved 2.4% from $2,633 million registered in the year-ago quarter.Electric revenues totaled $1,951 million, down 0.7% from the prior-year period figure of $1,965 million. Gas revenues were up 12.4% to $489 million. Steam revenues rose 9.1% to $96 million. Non-utility revenues amounted to $160 million, up 10.3% from $145 million recorded in the year-ago quarter.Consolidated Edison Inc Price, Consensus and EPS Surprise Consolidated Edison Inc Price, Consensus and EPS Surprise | Consolidated Edison Inc QuoteOperating StatisticsTotal operating expenses in the second quarter increased 4.6% year over year to $2,270 million.Gas purchased for resale, other operation and maintenance, depreciation and amortization as well as taxes and other than income taxes was up 30.2%, 3.3%, 6.6%, and 5.7%, respectively, from the prior-year quarter number. However, purchase power expenses decreased 4.9% year over year, while fuel expenses remained flat at $38 million.FinancialsCash and temporary cash investments as of Jun 30, 2018 summed $866 million compared with $797 million as of Dec 31, 2017.Long-term debt was $15,255 million as of Jun 30, 2018 compared with $14,731 million at 2017 end.At the end of second-quarter 2018, cash from operating activities amounted to $655 million compared with $1,234 million in the year-ago period.GuidanceFor 2018, the company continues to expect adjusted earnings per share in the $4.15-$4.35 range.Zacks RankConsolidated Edison carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Utility ReleasesEntergy Corporation ETR reported second-quarter 2018 adjusted earnings of $1.79 per share, which surpassed the Zacks Consensus Estimate of $1.26 by 42.1%.NextEra Energy, Inc.’s NEE second-quarter 2018 adjusted earnings came in at $2.11 per share, which outpaced the Zacks Consensus Estimate of $2.07 by 1.93%. The bottom line was also up 13.4% on a year-over-year basis.CMS Energy Corporation CMS reported second-quarter 2018 adjusted earnings of 48 cents per share.Will You Make a Fortune on the Shift to Electric Cars?Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.It's not the one you think.See This Ticker Free >>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 Corporation (CMS): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report Entergy Corporation (ETR): Free Stock Analysis Report Consolidated Edison Inc (ED): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research