Consolidated Edison (ED)
NYSEUtilitiesUtilities - Regulated ElectricSnapshot 2026-07-07
$113.00+0.95%
Close 2026-07-07 · 1-day change
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Track ED free→Warn: Management is running behind on a stated commitment.
Consolidated Edison invests about $6.6 billion in 2026 to modernize its grid. It aims for adjusted EPS of $6.00 to $6.20 in 2026. The company manages costs well, with operating income rising to $1.18 billion in Q1 2026. These support steady earnings and dividend income.
Growth and valuation concerns led to a recent analyst downgrade. The company cut EPS guidance and missed Q1 earnings. Rising costs or regulatory challenges could pressure profits and investments.
The market prices about 4% revenue growth and values shares slightly above our fair value near $107. Our view aligns with consensus but sees risk from the recent guidance cut and earnings miss.
Breaks if: capital expenditures fall below $6,595 million in FY26
Continue proactive investments to build and maintain a modern, resilient energy grid to support electrification and regional growth.
Standing thesis, reviewed periodically — not a price target or 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 as a priority in 2 of last 2 quarters. Management plans capital investments of $6,595 million in 2026 and $6,759 million in 2027 to support a modern, resilient grid. This aligns with their stated proactive investment approach to support electrification and regional growth, indicating delivery on this priority.
“We are investing proactively to meet this growth - building new substations, maintaining robust design standards and fortifying our system.”
“Demand remains for a modern, resilient grid as customers continue to electrify their homes, businesses and vehicles. We are investing proactively.”
Breaks if: adjusted EPS falls below $6.00 in FY26
Maintain and deliver adjusted earnings per share guidance for 2026 in the range of $6.00 to $6.20.
Stated as a priority in 2 of last 2 quarters. Management reaffirmed adjusted EPS guidance for 2026 at $6.00 to $6.20 per share in both 2025-Q4 and 2026-Q1. Actual diluted EPS was $2.54 in 2026-Q1, consistent with the annual guidance trajectory. The company is delivering on this priority.
“We are reaffirming our Adjusted EPS guidance range for 2026.”
“For the year of 2026, Con Edison expects its adjusted earnings per share to be in the range of $6.00 to $6.20 per share.”
Target a compounded annual adjusted EPS growth rate of 6% to 7% over five years based on 2026 guidance midpoint.
Newly stated in 2025-Q4. Management set a target for 6-7% compounded annual adjusted EPS growth over five years based on 2026 guidance midpoint. Actual EPS was $2.54 in 2026-Q1 and guidance midpoint is $6.10 for 2026, but longer-term growth trajectory cannot yet be assessed from available data.
“We expect five-year adjusted EPS to grow at a compounded annual rate target of 6 to 7 percent.”
Breaks if: operating income falls below $1.1 billion quarterly
Focus on managing costs effectively while making critical investments to support the clean energy transition.
Stated as a priority in 2 of last 2 quarters. Operating income rose from $487 million in 2025-Q4 to $1,177 million in 2026-Q1, reflecting improved profitability amid cost management and investments. Management's focus on cost discipline is consistent with this financial improvement, indicating progress on this priority.
“We are managing costs and supporting affordability while investing proactively.”
“We remain focused on managing costs while making the critical investments required for the clean energy transition.”