Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Consolidated Edison (ED)
NYSEUtilitiesRegulated ElectricSnapshot 2026-11-04
$120.30+2.99%
Close 2026-11-04 · 1-day change
NYSEUtilitiesRegulated ElectricSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
6.50 → 6.49 EPS · FY ending Dec 31, 2027 · 10 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 10 to 10; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for ED yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Invest at least $6.6 billion in capital expenditures for grid modernization in 2026 | Consolidated Edison invests about $6.6 billion in 2026 to modernize its grid. | Under Pressure | capital expenditures fall below $6,595 million in FY26 | Capital expenditures: $1.173B FY2026-Q2; GAAP. Published target: >= $6,595 million. Annual target cannot be compared with a quarterly or TTM observation. Aug 6, 20261,173,000,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
ED is a low-risk, income-oriented utility with robust earnings quality, rather than a high-growth business. Its long-term thesis is weakened this week because recent financial performance has slipped relative to its industry, despite management maintaining its 2026 earnings guidance.
The valuation is described as cheap versus peers, and the expectations gap is modest. Pricing is tagged as justified, with low fragility, though valuation has recently fallen by 10.4 points.
Near term, management continues to reaffirm 2026 adjusted EPS guidance of $6.00 to $6.20, supported by $3.00 per share in the first half, and plans substantial grid investment. Cost discipline remains a watch item, and recent relative performance has weakened; the stated risk of a near-term miss is low, but peer misses and a past deep miss warrant attention.
The multi-year view depends on ED sustaining earnings and delivering grid investment while managing costs. A guidance cut on the next call would be a meaningful negative; Fed rate cuts or continued strong results and higher guidance from major utility peers would be favorable sector signals.
Over the next 1 to 3 years, ED’s thesis rests on steady execution and reliable earnings, but its recent decline in relative performance is a clear reason for caution. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated in 2 of 3 supplied quarters. Management reported: “"We are investing to further strengthen reliability and system resilience, including preparing our network for periods of extreme heat, and redoubling our efforts to keep our service affordable for all customers while continuing to support New York's clean energy transition.” ““We are investing proactively to meet this growth - building new substations, maintaining robust design standards in our networks and fortifying our system against extreme weather - while managing costs and supporting affordability.”
Deliver adjusted EPS in range $6.00 to $6.20 in 2026 | It aims for adjusted EPS of $6.00 to $6.20 in 2026. | Under Pressure | adjusted EPS falls below $6.00 in FY26 | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 2 of 3 supplied quarters. Management reported: “Adjusted earnings per share excludes the gain on the sale of Con Edison's equity interest in MVP ($(0.37) a sh are after-tax) , accretion of the basis difference of Con Edison's equity interest in MVP ( $(0.01) a s hare after-tax) , transaction costs associated with the strategic alternatives review of Con Edison's equity interests in MVP and Honeoye and the effects of HLBV accounting for tax equity investments, the amounts of which will not be determinable until year-end.” “For the year of 2026, Con Edison reaffirmed its adjusted earnings per share (non-GAAP) to be in the range of $6.00 to $6.20 per share.” Diluted EPS was $0.83 in 2026-Q2. Delivery assessment Nov 4, 2026 |
Maintain or improve operating income above $1.1 billion quarterly | The company manages costs well, with operating income rising to $1.18 billion in Q1 2026. | Intact | operating income falls below $1.1 billion quarterly | Operating income: $552M FY2026-Q2; GAAP. Published target: >= $1.1 billion per quarter. Target period is not explicitly aligned with this observation. Aug 6, 2026552,000,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 2 of 3 supplied quarters. Management reported: “"We are investing to further strengthen reliability and system resilience, including preparing our network for periods of extreme heat, and redoubling our efforts to keep our service affordable for all customers while continuing to support New York's clean energy transition.” ““We are making infrastructure investments across both utilities to ensure our system remains resilient and reliable as demand grows, while we continue to manage costs and deliver projects on budget.” Delivery assessment Nov 4, 2026 |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$6.48 → $6.49 · observed estimates
$18.21B → $18.38B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $6.48 | $18,212,859,129 | 9 / 10 |
| 2026-07-25 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-07-26 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-07-27 | $6.49 | $18,249,649,796 | 9 / 11 |
| 2026-07-28 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-07-29 | $6.49 | $18,249,649,796 | 9 / 11 |
| 2026-07-30 | $6.49 | $18,249,649,796 | 9 / 11 |
| 2026-07-31 | $6.49 | $18,249,649,796 | 9 / 11 |
| 2026-08-01 | $6.49 | $18,249,649,796 | 9 / 11 |
| 2026-08-02 | $6.49 | $18,249,649,796 | 10 / 11 |
| 2026-08-03 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-08-04 | $6.49 | $18,249,649,796 | 10 / 11 |
| 2026-08-05 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-08-06 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-08-07 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-08 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-08-09 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-08-10 | $6.49 | $18,304,470,490 | 15 / 15 |
| 2026-08-11 | $6.49 | $18,310,763,160 | 15 / 15 |
| 2026-08-12 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-13 | $6.49 | $18,308,909,880 | 15 / 15 |
| 2026-08-14 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-15 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-16 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-17 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-18 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-19 | $6.49 | $18,249,611,334 | 10 / 11 |
| 2026-08-20 | $6.48 | $18,261,654,688 | 9 / 11 |
| 2026-08-21 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-22 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-23 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-24 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-25 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-26 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-27 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-28 | $6.48 | $18,281,803,150 | 9 / 11 |
| 2026-08-29 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-08-30 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-08-31 | $6.49 | $18,365,233,919 | 10 / 11 |
| 2026-09-01 | $6.49 | $18,365,233,919 | 10 / 11 |
| 2026-09-02 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-03 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-04 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-05 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-06 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-07 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-08 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-09 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-10 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-11 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-12 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-13 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-14 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-15 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-16 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-17 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-18 | $6.49 | $18,365,233,919 | 9 / 11 |
| 2026-09-19 | $6.49 | $18,386,321,389 | 9 / 11 |
| 2026-09-20 | $6.49 | $18,386,321,389 | 9 / 11 |
| 2026-09-21 | $6.49 | $18,386,321,389 | 9 / 11 |
| 2026-09-22 | $6.49 | $18,386,321,389 | 9 / 11 |
| 2026-09-23 | $6.49 | $18,386,321,389 | 9 / 11 |
| 2026-09-24 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-09-25 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-09-26 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-09-27 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-09-28 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-09-29 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-09-30 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-10-01 | $6.50 | $18,386,321,389 | 9 / 11 |
| 2026-10-02 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-03 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-04 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-05 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-06 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-07 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-08 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-09 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-10 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-11 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-12 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-13 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-14 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-15 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-16 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-17 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-18 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-19 | $6.50 | $18,369,552,159 | 10 / 11 |
| 2026-10-20 | $6.50 | $18,368,014,839 | 10 / 11 |
| 2026-10-21 | $6.50 | $18,368,014,839 | 10 / 11 |
| 2026-10-22 | $6.50 | $18,368,177,264 | 10 / 11 |
| 2026-10-23 | $6.49 | $18,371,495,804 | 10 / 11 |
| 2026-10-24 | $6.49 | $18,371,495,804 | 10 / 11 |
| 2026-10-25 | $6.49 | $18,469,620,454 | 10 / 11 |
| 2026-10-26 | $6.49 | $18,469,620,454 | 10 / 11 |
| 2026-10-27 | $6.49 | $18,469,620,454 | 10 / 11 |
| 2026-10-28 | $6.49 | $18,375,265,034 | 10 / 11 |
| 2026-10-29 | $6.49 | $18,375,265,034 | 10 / 11 |
| 2026-10-30 | $6.49 | $18,375,265,034 | 10 / 11 |
| 2026-10-31 | $6.49 | $18,375,265,034 | 10 / 11 |
| 2026-11-01 | $6.49 | $18,375,265,034 | 10 / 11 |
| 2026-11-02 | $6.49 | $18,375,265,034 | 10 / 10 |
| 2026-11-03 | $6.49 | $18,375,265,034 | 10 / 9 |
| 2026-11-04 | $6.49 | $18,375,265,034 | 10 / 9 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 3 Buy / Strong Buy · 10 Hold · 6 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 1 recorded
0 raises · 2 cuts · 0 unchanged · 2 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Nov 5, 2026
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.