Earnings summaries and quarterly performance for CONSOLIDATED EDISON.
Executive leadership at CONSOLIDATED EDISON.
Board of directors at CONSOLIDATED EDISON.
BC
Brendan Cavanagh
Detailed
Director
CZ
Catherine Zoi
Detailed
Director
DS
Deirdre Stanley
Detailed
Director
DM
Dwight McBride
Detailed
Director
JK
John Killian
Detailed
Director
KM
Karol Mason
Detailed
Director
LF
L. Frederick Sutherland
Detailed
Director
LS
Linda Sanford
Detailed
Director
MR
Michael Ranger
Detailed
Lead Independent Director
WM
William Mulrow
Detailed
Director
Research analysts covering CONSOLIDATED EDISON.
Recent press releases and 8-K filings for ED.
Con Edison enters forward sale agreement for 7 M common shares
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- On February 23, 2026, Con Edison entered into a forward sale agreement with JPMorgan Chase Bank, N.A. covering 7 million common shares at an initial forward price of $110.81 per share, subject to daily adjustments based on the overnight bank funding rate less a spread and expected dividends.
- Settlement is expected by December 31, 2026 and will be physically settled unless Con Edison elects cash or net share settlement; settlement amounts depend on the market value of the shares versus the adjusted forward price.
- The forward purchaser may accelerate settlement upon events such as inability to borrow shares at the agreed rate, excess ownership positions, certain dividends or corporate actions, or insolvency, potentially requiring immediate issuance of shares and diluting EPS.
- An affiliate of the forward purchaser borrowed and sold the shares under an underwriting agreement with J.P. Morgan Securities LLC, with the offering registered on Form S-3 (No. 333-286304) effective April 1, 2025.
2 days ago
Con Edison announces common share offering with forward component
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- Con Edison plans to offer 7,000,000 common shares under a forward sale agreement with J.P. Morgan Securities LLC as underwriter.
- Settlement of the forward sale is expected by December 31, 2026, with Con Edison able to elect earlier physical settlement, cash settlement, or net share settlement.
- Net proceeds upon settlement will be used to fund subsidiaries’ capital requirements and general corporate purposes; Con Edison will only receive proceeds from any “top-up” shares it issues directly to the underwriter.
4 days ago
Consolidated Edison reports 2025 earnings
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Earnings
Guidance Update
Dividends
- 2025 net income was $2,023 million or $5.66 per share (GAAP), up from $1,820 million or $5.26 in 2024; adjusted earnings were $2,038 million or $5.70 per share versus $1,868 million or $5.40 in 2024.
- In Q4 2025, net income was $297 million or $0.82 per share compared with $310 million or $0.90 in Q4 2024; adjusted earnings were $320 million or $0.89 per share versus $340 million or $0.98.
- CEO Tim Cawley highlighted the durability of Con Edison’s regulated businesses and emphasized disciplined investments to modernize the grid and ensure reliability.
- CFO Kirk Andrews reaffirmed a 5-year adjusted EPS CAGR target of 6–7% for 2026–2030 and noted the dividend increase for the 52nd consecutive year.
Feb 19, 2026, 9:40 PM
Con Edison reports 2025 earnings
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Earnings
Guidance Update
Dividends
- Consolidated Edison reported 2025 net income of $2,023 million ($5.66/share) versus $1,820 million ($5.26/share) in 2024; adjusted earnings were $2,038 million ($5.70/share) compared with $1,868 million ($5.40/share) a year earlier.
- In Q4 2025, net income was $297 million ($0.82/share) versus $310 million ($0.90/share) in Q4 2024; adjusted earnings were $320 million ($0.89/share) versus $340 million ($0.98/share).
- For 2026, the company expects adjusted EPS of $6.00–$6.20 and targets a 5-year adjusted EPS CAGR of 6–7% based on the midpoint of its guidance.
- Con Edison increased its dividend for the 52nd consecutive year, marking another year of shareholder return growth.
Feb 19, 2026, 9:37 PM
Con Edison declares quarterly dividend
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Dividends
- Declared a quarterly dividend of 88.75 cents per share, payable March 16, 2026, to record holders as of February 18, 2026.
- Annualized dividend of $3.55 per share, up 15 cents from the prior $3.40.
- 52nd consecutive annual dividend increase, the longest streak among S&P 500 utilities.
- Targets a dividend payout ratio of 55%–65% of adjusted earnings.
Jan 27, 2026, 9:36 PM
Con Edison to sell Mountain Valley Pipeline interest
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M&A
- On November 24, 2025, a Con Edison subsidiary agreed to sell its 6.6% interest in Mountain Valley Pipeline LLC, including the Mainline Expansion, to an Ares Management fund for $357.5 million.
- The transaction is expected to close in the first half of 2026, subject to customary closing conditions and potential exercise of preferential rights by MVP’s founding members.
- Proceeds will be used to partially offset 2026 common equity requirements and for other general corporate purposes.
Nov 24, 2025, 10:17 PM
Con Edison faces political push for rate cuts after White House talks
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- President Trump and NYC Mayor-elect Zohran Mamdani met at the White House to press Con Edison for lower electricity rates affecting over 9 million New Yorkers.
- Con Edison had proposed rate hikes of 11.4% for electric and 13.3% for gas, later revised to 11.3% and 10.5%, and now suggests a three-year plan with annual increases of 2.8% for electric and 2% for gas.
- The joint call for rate reductions led to a decline in Con Edison’s stock, highlighting investor concerns over potential financial impacts.
- Con Edison emphasized its need to balance investments in resilience and reliability with customer affordability.
Nov 22, 2025, 5:33 AM
Consolidated Edison Co. of New York issues $900M 5.75% Debentures due 2055
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Debt Issuance
- On November 17, 2025, Consolidated Edison Company of New York entered into an underwriting agreement to sell $900 million aggregate principal amount of its 5.75% Debentures, Series 2025 A due 2055.
- The debentures were registered under Form S-3 (No. 333-281192), priced at 99.731% of par, with a 5.769% yield to maturity relative to a 4.750% August 15, 2055 Treasury plus 103 bps.
- The offering was led by Barclays Capital, Citigroup, J.P. Morgan Securities and Wells Fargo Securities, with total distribution of $900 million.
Nov 19, 2025, 4:16 PM
Con Edison reports Q3 2025 results
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Earnings
Guidance Update
Dividends
- Con Edison delivered GAAP EPS of $1.91, up from $1.70 in Q3 2024, and GAAP net income of $688 million ($686 million adjusted) for the quarter ended September 30, 2025.
- For the nine months ended September 30, 2025, GAAP EPS was $4.84 versus $4.37 a year ago, with GAAP net income of $1.726 billion ($1.718 billion adjusted).
- The board declared a $0.85 per share quarterly dividend on October 16, 2025 and narrowed full-year 2025 adjusted EPS guidance to $5.60–$5.70 on November 6, 2025.
- In November 2025, Con Edison entered a joint proposal for new CECONY electric and gas rate plans covering 2026–2028, targeting average annual bill impacts of 2.80% (electric) and 2.01% (gas) at a 9.40% ROE.
Nov 6, 2025, 9:43 PM
Con Edison reports 2025 Q3 earnings
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Earnings
Guidance Update
New Projects/Investments
- Q3 2025 net income of $688 million ($1.91/share), up from $588 million ($1.70) in Q3 2024; adjusted earnings were $686 million ($1.90), vs. $583 million ($1.68) in the prior year.
- First nine months 2025 net income of $1.726 billion ($4.84), compared with $1.510 billion ($4.37) for the same period in 2024; adjusted net income was $1.718 billion ($4.82), vs. $1.528 billion ($4.42).
- Raised full‐year 2025 adjusted EPS guidance to $5.60–$5.70, up from the previous $5.50–$5.70 range.
- Reached a three‐year settlement agreement to fund critical infrastructure investments, targeting completion of 14 new substations and system upgrades by 2030 to bolster reliability and support electrification.
Nov 6, 2025, 9:36 PM
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