ConEd Q4 2024 Earnings Report
Key Takeaways
Con Edison posted Q4 2024 net income of $310 million, down from $335 million in the same period last year. EPS declined to $0.90 from $0.97, while adjusted EPS dropped slightly to $0.98 from $1.00. Revenue increased to $3.67 billion, driven by higher electric and gas revenues. The company remains optimistic about future growth and infrastructure investments to support electrification.
Q4 2024 revenue grew to $3.67 billion, up from $3.44 billion in Q4 2023.
Net income fell to $310 million from $335 million year-over-year.
EPS declined to $0.90, with adjusted EPS at $0.98, slightly below last year's $1.00.
Strong investments in grid infrastructure to support electrification initiatives.
ConEd Revenue
ConEd EPS
ConEd Revenue by Segment
Forward Guidance
Con Edison expects continued earnings growth, with 2025 adjusted EPS guidance between $5.50 and $5.70, driven by grid infrastructure investments and electrification trends.
Positive Outlook
- 2025 adjusted EPS expected to be between $5.50 and $5.70.
- Projected five-year compounded annual adjusted EPS growth of 6-7%.
- Planned capital investments of $5.12 billion in 2025 and $8.07 billion in 2026.
- Expanding electrification demand from new construction and clean energy policies.
- Execution of equity forward transactions enhances financial stability.
Challenges Ahead
- Higher interest expenses impacting profitability.
- Regulatory uncertainties could affect future rate plans.
- Increasing operating costs due to grid modernization investments.
- Potential risks from capital market fluctuations impacting financing strategies.
- Market conditions could influence the adoption rate of electrification initiatives.
Revenue & Expenses
Visualization of income flow from segment revenue to net income