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Sep 30
ConEd Q3 2025 Earnings Report
Con Edison reported higher earnings in Q3 2025, driven by increases in electric and gas rate bases, lower expenses, and continued investment in New York’s energy infrastructure.
Key Takeaways
Con Edison posted stronger Q3 results with higher net income and EPS compared to the prior year, supported by a resilient utility business and disciplined cost control.
Net income for common stock rose to $688 million from $588 million in Q3 2024
Adjusted EPS increased to $1.90 from $1.68 in the prior-year quarter
Company highlighted investment in 14 new substations and large infrastructure projects
2025 adjusted EPS guidance raised to a range of $5.60–$5.70 from $5.50–$5.70
ConEd
ConEd
Forward Guidance
Con Edison raised its 2025 adjusted EPS guidance, citing strong fundamentals and ongoing infrastructure investments to support energy demand and reliability.
Positive Outlook
- Raised adjusted EPS guidance to $5.60–$5.70 for FY25
- Expected completion of 14 new substations by 2030
- Ongoing large-scale projects like JFK redevelopment and all-electric skyscraper
- Strong customer support for electrification in heating and transportation
- Stable returns expected from regulated utility business model
Challenges Ahead
- Impacts from strategic evaluation of MVP and Honeoye not fully known
- Uncertainties around regulatory approvals for investment plans
- Potential risks from climate-related operational costs
- Exposure to inflation and supply chain disruptions
- Unclear impacts of future tax law changes on financials