01—Abstract
Summary
Summary of the 8-K filed November 5, 2026. Cited figures are marked; the original filing is the authoritative source.
Consolidated Edison, Inc. (Con Edison) reported its third quarter and year-to-date financial results for 2026.
The company announced net income of $766 milliona, or $2.07 per share, for the third quarter of 2026, an increase from the $688 million, or $1.91 per share, reported in the same period of 2025. Adjusted earnings per share also saw a slight increase to $2.07 compared to $1.90 in the prior year's third quarter, after excluding certain one-time items. For the first nine months of 2026, Con Edison reported net income of $1,998 million, or $5.44 per share, up from $1,726 million, or $4.84 per share, in the first nine months of 2025.
The company also reiterated its full-year 2026 adjusted earnings per share guidance, now projected to be between $6.05b and $6.15, narrowing the previous range. Key drivers for operational performance include higher electric rate base, increased income from the allowance for equity funds used during construction, and lower operation and maintenance expenses for CECONY, partially offset by the dilutive effect of common share issuances.
02—Key points
Key Highlights
- Con Edison reported a Q3 2026 net income of $766 million ($2.07/share) compared to $688 million ($1.91/share) in Q3 2025.
- Adjusted earnings per share for Q3 2026 were $2.07, up from $1.90 in Q3 2025, excluding specific non-recurring items.
- For the first nine months of 2026, net income was $1,998 million ($5.44/share), an increase from $1,726 million ($4.84/share) in the same period of 2025.
- The company narrowed its full-year 2026 adjusted earnings per share guidance to a range of $6.05 to $6.15.
- Key positive drivers for CECONY's performance included a higher electric rate base and lower operation and maintenance expenses.
- Con Edison highlighted its strategic positioning for long-term growth through electrification, noting increased electric demand from new buildings and EV charging infrastructure.
- The company reiterated its commitment to customer affordability, with CECONY electric customer bills remaining below the peer average.
03—Questions
Frequently Asked Questions
What are the key financial results for Con Edison in the third quarter of 2026?
Con Edison reported a net income of $766 million, or $2.07 per share, for the third quarter of 2026. This represents an increase compared to the $688 million, or $1.91 per share, reported in the third quarter of 2025. Adjusted earnings per share also improved to $2.07 from $1.90 in the prior year's quarter.
What is Con Edison's updated full-year earnings guidance?
Con Edison has narrowed its full-year 2026 adjusted earnings per share guidance to a range of $6.05 to $6.15 per share. This range is slightly tighter than the previously issued guidance.
What factors are driving the year-over-year earnings improvement?
The improvement in earnings is attributed to several factors, including a higher electric rate base at CECONY, increased income from the allowance for equity funds used during construction, and lower operation and maintenance expenses, particularly from health care costs. These benefits were partially offset by the dilutive effect of common share issuances.
How is electrification impacting Con Edison's business?
Electrification is identified as a key driver for long-term growth. The company is experiencing increased electric demand from new buildings, growth in fast-charging capacity for electric vehicles, and expanded medium and heavy-duty make-ready programs supporting truck and bus electrification. This trend also necessitates significant infrastructure investments to maintain reliability.
04—Continue