Con Edison Q2 profit beats estimates on higher electric, gas rate bases
ED•Outlook and analyst context
Con Edison reaffirmed its 2026 adjusted EPS guidance at $6.00 to $6.20.
The company said it expects continued infrastructure investment to support reliability and system resilience, and sees market momentum for electrification supporting long-term shareholder value.
Wall Street's median 12-month price target for Consolidated Edison, Inc. is $113.00, about 4.3% above its August 5 closing price of $108.32. The stock recently traded at 17 times the next 12-month earnings, versus a P/E of 18 three months ago.
Quarterly results beat estimates
Con Edison reported second-quarter adjusted earnings that beat analyst expectations, helped by higher electric and gas rate bases.
- Q2 adjusted EPS: $0.83, beating the consensus estimate of $0.75.
- Q2 adjusted net income: $308 million, beating the consensus estimate of $266.41 million.
The company said increased electric and gas rate bases, along with the timing of billing for rate increases, contributed to earnings growth.
