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Consolidated Edison (ED) Q3 2025 Earnings
Reported Nov 6, 2025 at 4:43 PM ET · SEC Source
Q3 25 EPS
$1.90
BEAT +8.66%
Est. $1.75
Q3 25 Revenue
$4.53B
BEAT +7.34%
Est. $4.22B
vs S&P Since Q3 25
+5.2%
BEATING MARKET
ED +16.6% vs S&P +11.4%
Market Reaction
Did ED Beat Earnings? Q3 2025 Results
Consolidated Edison delivered a convincing third-quarter beat Thursday, posting adjusted EPS of $1.90 against a consensus estimate of $1.75, a gap of 8.66%, while revenue of $4.53 billion topped expectations by 7.34% and climbed 10.7% from the same p… Read more Consolidated Edison delivered a convincing third-quarter beat Thursday, posting adjusted EPS of $1.90 against a consensus estimate of $1.75, a gap of 8.66%, while revenue of $4.53 billion topped expectations by 7.34% and climbed 10.7% from the same period a year ago. The primary engine behind the quarter was CECONY, Con Edison's flagship utility subsidiary, where a higher electric rate base contributed meaningfully to per-share growth and lower effective income tax rates and reduced commercial paper interest expense added further lift. Net income for common stock rose to $688 million from $588 million in Q3 2024, reflecting the rate case-driven revenue expansion that pushed electric revenues up 10.6% even on flat sales volumes. Management signaled growing confidence by narrowing full-year 2025 adjusted EPS guidance to $5.60 to $5.70, shifting toward the upper half of the original range. Despite the strong print, some analysts remain cautious on valuation, with at least one major bank maintaining a skeptical rating on the stock even as the company outlined nearly $17 billion in capital investments for 2026 through 2028.
Key Takeaways
- • Higher electric rate base at CECONY contributing $0.11 per share
- • Lower effective income tax for certain items contributing $0.05 per share
- • Lower commercial paper interest expense contributing $0.04 per share
- • Lower stock-based compensation contributing $0.04 per share
- • Higher income from allowance for funds used during construction contributing $0.02 per share
ED YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ED Revenue by Segment
With YoY comparisons, source: SEC Filings
“We continue to deliver the safe, resilient grid New Yorkers rely on and have reached a Joint Settlement Agreement on a three-year investment plan that, if approved, will fund critical infrastructure investments while keeping affordability and reliability front and center. At the same time, the settlement advances our long-term operational and financial objectives as we progress New York's clean energy transition.”
— Tim Cawley, Q3 2025 Earnings Press Release
ED Earnings Trends
ED vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ED EPS Trend
Earnings per share: estimate vs actual
ED Revenue Trend
Quarterly revenue: estimate vs actual
ED Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $2.27 | $2.18 | -3.83% | $5.10B | +3.13% |
| Q4 25 BEAT FY | $0.86 | $0.89 | +3.44% | $4.00B | +7.65% |
| FY Full Year | — | $5.70 | — | $16.92B | — |
| Q3 25 BEAT | $1.75 | $1.90 | +8.66% | $4.53B | +7.34% |
| Q2 25 BEAT | $0.66 | $0.67 | +1.45% | $3.60B | +4.33% |