Loading...
•
Dec 31, 2024
ConEd Q4 2024 Earnings Report
Con Edison reported a decline in net income and EPS for Q4 2024 compared to the prior year, but adjusted earnings remained relatively stable.
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
ConEd
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.