Con Edison Reports Impressive Earnings for the First Quarter of 2025

Consolidated Edison Reports First Quarter Earnings for 2025

On May 1, 2025, Consolidated Edison, Inc. (Con Edison), listed on the NYSE under the symbol ED, announced its financial results for the first quarter of 2025. The company reported a significant net income of $791 million, equating to $2.26 per share. This marks an increase from $720 million or $2.08 per share in the same quarter the previous year.

In addition to the strong overall income, the adjusted earnings for the quarter, calculated on a non-GAAP basis, were announced as $792 million or $2.26 per share. This also reflects a distinct rise from $742 million or $2.15 per share in 2024. Notably, these adjusted figures exclude certain impacts like the accretion of Con Edison’s equity investment in Mountain Valley Pipeline, LLC (MVP) and effects related to accounting for tax equity investments.

CEO's Insights

Tim Cawley, Con Edison’s Chairman and CEO, attributed the strong financial performance to the company's effective execution of strategic initiatives. He underlined the company's commitment to investing in infrastructure aimed at maintaining high reliability standards and facilitating the clean energy transition. "Our ongoing investments focus on grid security, resiliency, and managing the growing energy demand as our customers increasingly rely on electricity for heating and transportation," said Cawley. He expressed optimism regarding consistent growth for the remainder of the year and projected nearly $72 billion in capital investments over the upcoming decade.

Kirk Andrews, Senior Vice President and CFO, also remarked that the financial results from Q1 lay a solid foundation for 2025. This is reinforced by the issuance of over $1.3 billion in new common equity during the quarter, addressing anticipated equity needs and steering focus on operational and remaining financial objectives moving forward.

Looking Ahead

Con Edison has reaffirmed its forecast for adjusted earnings per share for 2025, projecting an estimated range of $5.50 to $5.70, with similar exclusions relating to non-GAAP adjustments. The financial expectations are supported by investments aimed at adapting to new market demands and maintaining regulatory compliance in a highly scrutinized industry.

Conclusion

The earnings report from Con Edison not only reflects a robust financial standing but also showcases a larger commitment to sustainability and modern energy solutions. The company maintains a bright outlook for future growth, driven by strategic investments and a clear focus on customer needs in an ever-evolving energy landscape. Stakeholders are encouraged to access the detailed Q1 earnings release on the company’s investor relations website under 'Press Releases.'

In conclusion, Con Edison’s earnings growth and commitment to infrastructure and clean energy position it favorably for the challenges and opportunities ahead.