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Jun 30
ConEd Q2 2025 Earnings Report
Con Edison posted higher Q2 earnings compared to the prior year, supported by infrastructure investments and favorable rate impacts.
Key Takeaways
Con Edison reported a strong Q2 2025 with GAAP EPS of $0.68 and adjusted EPS of $0.67, driven by increased electric rate base and cost recoveries. The company reaffirmed its full-year adjusted EPS guidance and highlighted strategic progress on grid modernization and clean energy investments.
GAAP EPS was $0.68, up from $0.58 in Q2 2024.
Non-GAAP EPS was $0.67, compared to $0.59 in Q2 2024.
Net income attributable to common stock rose to $246 million.
Full-year 2025 adjusted EPS guidance reaffirmed at $5.50–$5.70.
ConEd
ConEd
Forward Guidance
Con Edison reaffirmed its full-year 2025 adjusted earnings guidance, underpinned by ongoing infrastructure investments, regulatory support, and electrification initiatives.
Positive Outlook
- Full-year adjusted EPS guidance maintained at $5.50 to $5.70.
- Secured $440 million approval for five new electrification projects.
- Strong rate base growth across electric and gas segments.
- Major transmission projects completed in Brooklyn and Staten Island.
- Stable regulatory environment supporting long-term investments.
Challenges Ahead
- Earnings impacted by higher long-term debt interest.
- Dilution from new share issuance affected EPS by $0.03.
- Ongoing HLBV tax equity impacts require adjustments to GAAP results.
- Clean Energy Businesses sale continues to create one-time accounting noise.
- Limited visibility into strategic alternatives regarding MVP and Honeoye.