Consolidated Edison beats profit estimates on strong power demand

New York-based utility Consolidated Edison ED.N beat analysts' estimates for second-quarter profit on Thursday, helped by robust demand for power.

Net income climbed to $308 million, or 83 cents per share, for the three months ended June 30, from $246 million, or 68 cents per share, a year earlier.

Its quarterly adjusted profit per share of 83 cents beat analysts' average estimate of 75 cents, according to data compiled by LSEG.

After hitting its second straight annual record high in 2025, U.S. power demand is set to climb further this year and in the next, according to the Energy Information Administration, as power-hungry data centers and electrification of homes, businesses and transportation drive consumption higher.

Electric revenue rose 13% to $3.14 billion during the second quarter.

Total operating revenue rose to $4.07 billion, up from $3.59 billion a year earlier, driven primarily by higher gas and steam revenue.