CON EDISON REPORTS 2026 THIRD QUARTER EARNINGS
Key Highlights
- ➤Q3 net income $766 million, or $2.07 a share, versus $688 million, or $1.91
- ➤Nine-month adjusted earnings $1,864 million, or $5.08 a share, versus $1,718 million, or $4.82
- ➤2026 adjusted EPS guidance narrowed to $6.05-$6.15 from $6.00-$6.20
- ➤Con Edison plans approximately $797 million in climate resilience investments through 2030
- ➤New Steam business investment plan agreed with regulators, pending approval
Expert Statements
Tim Cawley, Chairman and CEO of Con Edison
“Con Edison is a durable, long-term investment, supported by consistent performance, financial strength, and our ability to navigate an evolving landscape,”
Tim Cawley, Chairman and CEO of Con Edison
“We're at the center of one of the nation's largest electrification efforts, serving a region with unique needs, complex infrastructure, and vital national assets. We remain focused on delivering world-class reliability to our customers while building the capacity and resilience New York needs to grow.”
Tim Cawley, Chairman and CEO of Con Edison
“We have a responsibility to protect our equipment and customers from increasingly extreme weather and plan to invest approximately $797 million in climate resilience from 2026 through 2030,”
Tim Cawley, Chairman and CEO of Con Edison
“Our robust capital investments modernize our system for customers' changing energy needs while balancing customer costs and supporting stable returns for investors.”
Kirk Andrews, Senior Vice President and CFO of Con Edison
“We see a bright future as we expand our earnings base with strategic upgrades to our energy delivery systems that help us maintain our industry-leading reliability and provide attractive, steady earnings opportunities,”
Kirk Andrews, Senior Vice President and CFO of Con Edison
“We've reached agreement with our regulator and other stakeholders on a new investment plan for our Steam business that is awaiting approval, demonstrating our strong ability to work with diverse parties to find consensus and make our region stronger.”
NEW YORK, Nov. 5, 2026 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2026 third quarter net income of $766 million or $2.07 a share compared with $688 million or $1.91 a share in the 2025 third quarter. Adjusted earnings (non-GAAP) were $766 million or $2.07 a share in the 2026 period compared with $686 million or $1.90 a share in the 2025 period. Adjusted earnings and adjusted earnings per share in the 2025 period exclude accretion of the basis difference of Con Edison's equity interest in Mountain Valley Pipeline, LLC (MVP).
For the first nine months of 2026, net income was $1,998 million or $5.44 a share compared with $1,726 million or $4.84 a share in the first nine months of 2025. Adjusted earnings were $1,864 million or $5.08 a share in the 2026 period compared with $1,718 million or $4.82 a share in the 2025 period. Adjusted earnings and adjusted earnings per share in the 2026 period exclude transaction costs associated with the strategic alternatives review of Con Edison's equity interests in MVP and Honeoye Storage Corporation (Honeoye), the gain on the sale of Con Edison's equity interest in MVP and the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments. Adjusted earnings and adjusted earnings per share in the 2026 and 2025 periods exclude accretion of the basis difference of Con Edison's equity interest in MVP. Adjusted earnings and adjusted earnings per share in the 2025 period exclude adjustments to the gain and other impacts related to the sale of all of the stock of Con Edison's former subsidiary, Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses), in 2023.
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