Con Edison Set to Report Q1 Earnings Amidst Rising Stock Value

Consolidated Edison, Inc. (ED), based in New York, is a prominent provider of regulated electric, gas, and steam services across New York City, New Jersey, and Westchester County. The company, with a market capitalization of $40.4 billion, also invests in electric and natural gas transmission projects that enable customers to access diverse and economical energy supplies.

Upcoming Earnings Announcement

The utility giant is expected to announce its first-quarter results following the market close on Thursday, May 1. Analysts anticipate that ED will report a non-GAAP profit of $2.30 per share, reflecting a nearly 7% increase from the $2.15 per share reported in the same quarter last year. Additionally, Con Edison has consistently exceeded analysts’ earnings estimates for each of the past four quarters.

Future Earnings Projections

For fiscal 2025, ED is projected to achieve an adjusted earnings per share (EPS) of $5.62, marking a 4.1% increase from the $5.40 reported in fiscal 2024. Looking ahead to fiscal 2026, earnings are expected to grow by 6.6% year-over-year to reach $5.99 per share.

Stock Performance Overview

ED stock has climbed 20.9% over the past year, significantly outperforming both the Utilities Select Sector SPDR Fund (XLU), which has gained 16.1%, and the S&P 500 Index ($SPX), which has risen by 3.8% during the same period.

Recent Financial Performance

Following the release of its fourth-quarter results on February 20, Con Edison’s stock rose by 2.6%, sustaining positive momentum for the following two trading sessions. The company’s revenue from electric, gas, and steam services increased 6.5% year-over-year to $3.7 billion, surpassing analysts’ expectations by 2.6%. However, due to rising operating expenses, Con Edison’s margins were affected, leading to adjusted earnings dropping 1.7% year-over-year to $340 million. Despite this, the adjusted EPS of $0.98 exceeded consensus estimates by more than 1%.

Analyst Ratings and Investor Sentiment

The consensus on ED stock is neutral with an overall “Hold” rating. Among the 17 analysts covering the stock, the ratings include three “Strong Buys,” 10 “Holds,” and four “Strong Sells.” As of the most recent analysis, the stock is trading above its mean price target of $105.03.

On the date of publication, Aditya Sarawgi did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. The information in this article is provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.

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