Con Edison Q1 Profit Rises to $924M; Reaffirms $6.00–$6.20 EPS Guidance
ED•Con Edison reported 2026 first-quarter net income of $924 million, up from $791 million a year earlier, delivering GAAP EPS of $2.55 and adjusted EPS of $2.18. The company sold its Mountain Valley Pipeline stake for $357.5 million, executed a 7 million share forward sale and reaffirmed $6.00–$6.20 EPS guidance.
1. Q1 Results
Con Edison delivered net income of $924 million, or $2.55 per share, in the 2026 first quarter, up from $791 million, or $2.26 per share, in the year-ago period. Adjusted earnings were $790 million, or $2.18 per share, excluding transaction costs and basis accretion related to its Mountain Valley Pipeline and Honeoye investments.
2. Strategic Transactions
During the quarter, the company completed the sale of its equity interest in Mountain Valley Pipeline for $357.5 million and settled a forward sale agreement for 7 million common shares, generating proceeds earmarked for energy system investments. These transactions support Con Edison’s capital plan for network upgrades and resilience measures.
3. Guidance Reaffirmation
Based on first-quarter performance and ongoing demand, Con Edison reaffirmed its 2026 adjusted EPS guidance at $6.00 to $6.20. The outlook reflects continued strength in regulated operations, disciplined execution of a three-year investment plan and proactive infrastructure spending to meet accelerating electrification demands.
