Con Edison Q2 2026: $0.83 EPS beats, 2026 guidance reaffirmed
Con Edison beat on the bottom line and management held its full-year guidance, which supports a Bullish view of the regulated utility story. Net income of $308 million, or $0.83 a share, topped the $0.78 consensus, and revenue rose 13.2% to $4.07 billion. Read it as solid utility execution with one offset: a bigger share count and very heavy capital spending.
1 · Expected vs. Actual
Free preview belowGAAP earnings per share were $0.83 versus $0.68 a year ago, a 22.1% increase and a 7.0% beat against the $0.78 consensus. Adjusted earnings per share, which strips out Mountain Valley Pipeline items and other one-offs, was also $0.83 versus $0.67. The CECONY utility did the heavy lifting, adding $0.18 a share on higher electric and gas rate base and the timing of rate increases, before $0.02 of dilution from new shares.
Revenue came in at $4.07 billion, up 13.2% from $3.60 billion a year earlier, with electricity at $3.14 billion, gas at $811 million and steam at $118 million. One caveat worth knowing: the machine-readable revenue tag in the filing says $4.17 billion, while the income statement lines add up to $4.07 billion, so treat the smaller figure as the one the utilities actually reported. Under Con Edison's decoupling rules, delivery revenue is largely insulated from volume swings, so much of the increase traces to rate base and rate increases rather than customers using more power.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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