Consolidated Edison Q2 2026: Revenue Surges 13.2%, EPS Beats by 7%
As seen on the 24/7 Wall St. homepage on August 6, 2026.
New York's electrification wave is landing in the results: revenue climbed 13.2% year over year on a higher CECONY rate base, topping expectations. Management held full-year adjusted EPS guidance at $6.00 to $6.20, keeping a 52-year dividend growth streak intact.
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Consolidated Edison posted second-quarter 2026 earnings per share of $0.83, clearing the $0.773 consensus estimate by about 7%. Revenue came in at $4.07 billion, a 13.2% jump from the same quarter a year ago and nearly 15% above what analysts had expected, with the company crediting a higher CECONY rate base for the lift. The CECONY — or Consolidated Edison Company of New York — segment is the utility's core electric and gas delivery business, and rate-base growth tied to New York's ongoing electrification build-out is flowing directly into the top line.
Despite a stronger-than-expected quarter, management kept its full-year adjusted EPS guidance range at $6.00 to $6.20, offering no upgrade to the outlook. That steadiness is consistent with the company's conservative posture as a regulated utility, and it keeps a 52-year streak of consecutive dividend growth on track — one of the longest such records among U.S. utility stocks. Q1 2026 was the one recent blemish in the EPS trend, with reported earnings of $2.18 falling short of the $2.27 estimate, making the Q2 beat a welcome return to form.
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The pattern across the last eight quarters shows Con Ed consistently meeting or exceeding expectations in most periods, with the seasonal rhythm of a New York utility — earnings tend to be strongest in the summer and winter peak-demand quarters. Investors watching ED will want to track whether the CECONY rate base continues to expand at the pace implied by this quarter's revenue growth, and whether management revisits the guidance range when it reports Q3 results.
Mentioned: ED