Con Edison Q2 EPS Beats, Raises Full-Year Guidance to $6.00–$6.20

summarizeSummary

Con Edison reported Q2 adjusted EPS of $0.83, beating estimates, and initiated full-year guidance of $6.00–$6.20. Electric revenue jumped 13%, and the company continued to fund its capital plan with debt and equity offerings.

check_boxKey Events · Earnings and Guidance · ED

• Q2 EPS Beat

  Adjusted EPS of $0.83 exceeded the $0.75 consensus, driven by a 13% increase in electric revenue to $3.139 billion.

• Full-Year Guidance Initiated

  Management set 2026 adjusted EPS guidance at $6.00 to $6.20, providing a clear earnings target for the year.

• Financing Activity

  CECONY issued $1.3 billion in long-term debt, and Con Edison established a $2.0 billion at-the-market equity program, with $1.8 billion remaining available.

• MVP Stake Sale

  Con Edison Transmission sold its 6.6% interest in Mountain Valley Pipeline for $357.5 million, recording a $189 million pre-tax gain.

auto_awesomeAnalysis · ED · Energy & Transportation

Con Edison delivered a strong Q2, with adjusted EPS of $0.83 beating the $0.75 consensus by over 10%. The beat was driven by a 13% surge in electric revenue, reflecting higher rates and warmer weather. Management also issued full-year adjusted EPS guidance of $6.00 to $6.20, providing a concrete baseline for the year. The quarter included a $189 million gain from the sale of the MVP stake, but even excluding that, core utility earnings improved. The company also continued to execute its financing plan, issuing $1.3 billion in debt and establishing a $2.0 billion ATM equity program to fund its $2.5 billion capital plan. Regulatory developments were mixed: RECO secured a $15.25 million rate increase, but CECONY faces a show-cause order over EV program data reporting. The results and guidance affirm the company's ability to grow earnings while managing regulatory and operational challenges.