Con Edison Posts Higher Q3 Profit and Narrows 2026 Earnings Outlook

Consolidated Edison, Inc. posted third-quarter net income of $766 million, or $2.07 per share, for the period ending September 30, 2026, marking an increase from $688 million, or $1.91 per share, recorded in the third quarter of 2025. Adjusted earnings matched net income for the recent quarter, compared with $686 million, or $1.90 per share, in the prior-year period.

The utility holding company narrowed its adjusted earnings guidance for full-year 2026 to between $6.05 and $6.15 per share, tightening its prior target range of $6.00 to $6.20 per share. For the initial nine months of 2026, net income reached $1.998 billion, or $5.44 per share, up from $1.726 billion, or $4.84 per share, in the corresponding span of 2025.

Regulated operational growth drove the quarterly advance. Consolidated Edison Company of New York contributed an $80 million year-over-year rise in net income, bolstered by a $62 million boost from an expanded electric rate base. Additional support came from $9 million in higher allowance for equity funds used during construction and an $8 million reduction in health-care operation and maintenance expenses, offset by a $0.05 per share dilution impact from equity issuances. Orange and Rockland Utilities added a $3 million net income improvement, while Con Edison Transmission saw a $5 million decrease following lower investment revenue tied to the sale of an interest in the Mountain Valley Pipeline.

Addressing system resilience, Chairman and Chief Executive Officer Tim Cawley outlined plans to allocate approximately $797 million toward climate resilience projects from 2026 through 2030 to counter extreme weather conditions. Chief Financial Officer Kirk Andrews highlighted that the utility reached an agreement with regulators and stakeholders regarding a fresh capital investment plan for its Steam business, which is awaiting formal authorization.

Earlier, the company declared a quarterly dividend of 88.75 cents per share on October 15, 2026. The payment is scheduled for distribution on December 15, 2026, to shareholders recorded on November 18, 2026.