Consolidated Edison, Inc. (NYSE:ED) posted better-than-expected first-quarter results on Thursday.
The company posted adjusted earnings of $2.26 per share, beating market estimates of $2.20 per share. The company's quarterly sales came in at $4.80 billion versus expectations of $4.44 billion.
“We continue to deliver results through strong execution of our strategy, with robust investments in infrastructure to maintain our world-class reliability and support the clean energy transition,” said Tim Cawley, chairman and CEO of Con Edison. “Our ongoing investments focus on grid security, resiliency, and the growing demand for energy as our customers will increasingly rely on electricity for heating and transportation. We anticipate steady growth through the year and long term, and project nearly $72 billion in capital investments over the next 10 years helping ensure we continue to deliver for our customers while providing strong and stable returns for our investors.”
Consolidated Edison affirmed FY2025 adjusted EPS guidance of $5.50 to $5.70, versus market estimates of $5.63.
Consolidated Edison shares fell 2.6% to trade at $109.62 on Friday.
These analysts made changes to their price targets on Consolidated Edison following earnings announcement.
- Guggenheim analyst Shahriar Pourreza maintained Consolidated Edison with a Neutral and raised the price target from $96 to $103.
- Wells Fargo analyst Sarah Akers maintained the stock with an Equal-Weight rating and raised the price target from $103 to $114.
Considering buying ED stock? Here’s what analysts think:
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