Con Edison Q3 profit beats on higher electric rate base
ED•Con Edison reported third-quarter adjusted EPS of $2.07, beating the $2.03 analyst estimate, and adjusted net income of $766 million, above the $739.47 million estimate. It narrowed its 2026 adjusted EPS outlook to $6.05-$6.15 from $6.00-$6.20 and plans about $797 million in climate-resilience investment from 2026 through 2030.
1. Quarterly results
Con Edison’s third-quarter adjusted EPS rose year over year to $2.07, beating analyst expectations of $2.03. Adjusted net income increased year over year to $766 million, above the $739.47 million estimate. The company attributed the results to a higher electric rate base, lower operation and maintenance expenses, particularly health care costs, and higher income from allowance for equity funds used during construction.
2. Outlook and investment
Con Edison narrowed its 2026 adjusted EPS outlook to $6.05-$6.15 from its prior range of $6.00-$6.20. It plans to invest about $797 million in climate resilience from 2026 through 2030 and is awaiting approval of a new Steam business investment plan after reaching agreement with stakeholders.
