CON EDISON REPORTS 2026 SECOND QUARTER EARNINGS
Consolidated Edison (NYSE: ED) reported 2026 Q2 net income for common stock of $308 million, or $0.83 per share, versus $246 million, or $0.68 per share in Q2 2025. Adjusted earnings were $308 million, or $0.83 per share, versus $240 million, or $0.67 per share. For 2026, it reaffirmed adjusted EPS guidance of $6.00 to $6.20.
How this was made
The 30-second read
Why it matters
The key tradable inputs are the Q2 earnings print and the reaffirmed 2026 adjusted EPS range ($6.00 to $6.20). The excluded items (MVP/Honeoye strategic alternatives costs and tax-equity HLBV effects) may affect how investors judge underlying earnings power.
Market read
A company-specific earnings and guidance update for a regulated utility, with investor focus on reliability capex, electrification demand, and the credibility of adjusted earnings.
What to watch
The release highlights planned substations and tens of billions in capex through 2035, but does not quantify near-term rate recovery timing, which can dominate utility stock moves.
Background
Con Edison is a regulated electric utility; its earnings are heavily influenced by rate plans, capex recovery, and accounting treatment of tax equity and asset sales.
Ticker impact
Con Edison reported 2026 Q2 net income of $308M ($0.83/sh) and reaffirmed 2026 adjusted EPS guidance of $6.00 to $6.20.
Likely modest positive bias for ED on guidance reaffirmation, with volatility tied to how investors model regulated returns and excluded items.
The release provides fresh quarterly results plus a specific, unchanged 2026 adjusted EPS range, but it does not include GAAP reconciliation detail or new regulatory decisions that would be a larger re-rating catalyst.
Market effects
Reinforces the regulated-utility narrative of steady earnings backed by infrastructure capex and reliability investments.
Primarily impacts New York utility sentiment tied to electrification and grid resilience spending.
Limited, as the disclosure is company-specific and not a cross-market macro or commodity shock.
Counterpoint
Adjusted EPS excludes multiple items tied to pipeline/storage strategic alternatives and tax-equity accounting, so investors may discount the quality of the earnings signal.
Key entities
- companyConsolidated Edison, Inc.
Reported 2026 second-quarter results and reaffirmed 2026 adjusted EPS guidance.
- executiveTim Cawley
CEO quoted on reliability investments and affordability while supporting clean energy transition.
- executiveKirk Andrews
CFO quoted on results being in line year-to-date and confidence in long-term strategy.
- assetMountain Valley Pipeline, LLC (MVP)
Equity interests referenced for transaction costs excluded from adjusted earnings.
- assetHoneoye Storage Corporation (Honeoye)
Equity interests referenced for transaction costs excluded from adjusted earnings.
