Overview
Con Edison Q3 adjusted EPS beats analyst expectations, reflecting strong financial performance
Adjusted net income for Q3 exceeds analyst estimates, indicating robust operational results
Company plans critical infrastructure investments, supporting New York's clean energy transition
Outlook
Con Edison expects 2025 adjusted EPS between $5.60 and $5.70
Company plans to complete 14 new substations by 2030
Result Drivers
HIGHER ELECTRIC RATE BASE - Increased electric rate base contributed significantly to Q3 earnings growth
INFRASTRUCTURE INVESTMENTS - Joint Settlement Agreement aims to fund critical infrastructure investments while keeping affordability and reliability front and center
DEMAND FOR RELIABLE ENERGY - Growing demand for reliable energy highlighted by landmark projects such as New York's first all-electric skyscraper
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Beat | $1.90 | $1.73 (7 Analysts) |
Q3 EPS | $1.91 | ||
Q3 Adjusted Net Income | Beat | $686 mln | $609.90 mln (3 Analysts) |
Q3 Net Income | $688 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "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 $101.00, about 4.8% above its November 5 closing price of $96.11
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 18 three months ago
Press Release: ID:nPn4V3Ygxa
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(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.)