Consolidated Edison, Inc. ED reported second-quarter 2025 adjusted earnings of 67 cents per share, which topped the Zacks Consensus Estimate of 66 cents by 1.5%. The bottom line also improved 13.6% from 59 cents recorded in the prior-year quarter. The company reported GAAP earnings of 68 cents per share, up from earnings of 58 cents recorded in the year-ago quarter. The year-over-year increase can be attributed to higher revenue growth and operating income generated in the second quarter of 2025 compared to the prior-year quarter’s level. Consolidated Edison's total operating revenues of $3.60 billion surpassed the Zacks Consensus Estimate of $3.39 billion by 6.2%. The top line also increased 11.6% from $3.22 billion reported in the year-ago quarter. The upside was driven by higher gas, steam, electric and non-utility revenues. Electric revenues totaled $2.78 billion, which increased 8.9% from the year-ago quarter’s figure of $2.55 billion. Gas revenues amounted to $711 million, which surged 22.2% from the year-ago quarter’s figure of $582 million. Steam revenues totaled $106 million, which rose 20.5% from the year-ago quarter’s figure of $88 million. Non-utility revenues were $1 million compared with nil generated in the year-earlier quarter. Total operating expenses in the second quarter increased 11.7% year over year to $3.24 billion. Purchase power costs rose 16.7%. Other operations and maintenance expenses fell 4.6%. Meanwhile, depreciation and amortization expenses jumped 12.5%. Taxes, other than income taxes, went up 14.3% year over year. Fuel expenses surged 80% year over year, and the cost of gas purchased for resale rose 151.5%. The company’s second-quarter operating income went up 10.9% year over year to $355 million. Cash and temporary cash investments as of June 30, 2025 were $1.51 billion compared with $1.32 billion as of Dec. 31, 2024. The company’s long-term debt was $24.66 billion as of June 30, 2025 compared with $24.65 billion as of the 2024 end. During the first six months of 2025, cash from operating activities amounted to $2.82 billion compared with $1.91 billion in the prior year. Consolidated Edison reaffirmed its 2025 guidance. It still expects to generate adjusted earnings per share (EPS) in the range of $5.50-$5.70. The Zacks Consensus Estimate for 2025 earnings is pegged at $5.63, which is higher than the midpoint of the company’s guided range. Consolidated Edison currently carries a Zacks Rank #3 (Hold).

Consolidated Edison Q2 Earnings Beat Estimates, Revenues Rise Y/Y

Consolidated Edison, Inc. reported second-quarter 2025 adjusted earnings of 67 cents per share, exceeding the Zacks Consensus Estimate of 66 cents by 1.5%, and posting a 13.6% year-over-year increase from 59 cents in the prior-year quarter. GAAP earnings reached 68 cents per share, up from 58 cents in the same period last year. Total operating revenues of $3.60 billion surpassed the estimate of $3.39 billion by 6.2%, driven by growth in electric, gas, steam, and non-utility revenues. Electric revenues rose 8.9% to $2.78 billion, gas revenues surged 22.2% to $711 million, and steam revenues increased 20.5% to $106 million. Non-utility revenues were $1 million, up from nil in the prior year. Operating expenses rose 11.7% to $3.24 billion, with fuel expenses increasing 80% and gas purchase costs rising 151.5%. Operating income increased 10.9% year over year to $355 million. Cash and temporary investments stood at $1.51 billion as of June 30, 2025, and long-term debt remained stable at $24.66 billion. The company reaffirmed its 2025 adjusted EPS guidance of $5.50–$5.70, slightly below the Zacks Consensus Estimate of $5.63. The company currently holds a Zacks Rank #3 (Hold).