Con Edison Q2 profit beats estimates on higher electric, gas rate bases

Consolidated Edison

06/08/2026 21:50

Overview
U.S. utility's Q2 adjusted EPS rose, beating analyst expectations
Q2 adjusted net income also beat analyst expectations
Company reaffirmed 2026 adjusted EPS outlook, citing higher rate bases and infrastructure investments

Outlook
Con Edison reaffirms 2026 adjusted EPS guidance at $6.00 to $6.20
Company expects ongoing infrastructure investments to support reliability and system resilience
Con Edison sees market momentum for electrification supporting long-term shareholder value

Result Drivers
HIGHER RATE BASES - Increased electric and gas rate bases and timing of billing for rate increases contributed to Q2 earnings growth
LOWER EXPENSES - Reduced operations and maintenance and interest expenses supported improved results
INFRASTRUCTURE INVESTMENTS - Co said ongoing investments in reliability and system resilience are intended to strengthen performance and support clean energy transition

Company press release: ID:nPn4HxPpwa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$0.83
$0.75 (13 Analysts)
Q2 Adjusted Net Income
Beat
$308 mln
$266.41 mln (5 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 11 "hold" and 6 "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy."
Wall Street's median 12-month price target for Consolidated Edison, Inc. is $113.00, about 4.3% above its August 5 closing price of $108.32
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago

Reuters Recommended Reads
Aug 6 - Sempra raises full-year earnings forecast, beats quarterly estimates on utility rate gains
Aug 6 - Utility Evergy beats second-quarter profit estimates on robust power demand
Aug 4 - Pinnacle West profit falls as higher interest, depreciation offset demand gains

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)