Overview

* Con Edison Q3 adjusted EPS beats analyst expectations, reflecting strong financial performance

* Adjusted net income for Q3 exceeds analyst estimates, indicating robust operational results

* Company plans critical infrastructure investments, supporting New York's clean energy transition

Outlook

* Con Edison expects 2025 adjusted EPS between $5.60 and $5.70

* Company plans to complete 14 new substations by 2030

Result Drivers

* HIGHER ELECTRIC RATE BASE - Increased electric rate base contributed significantly to Q3 earnings growth

* INFRASTRUCTURE INVESTMENTS - Joint Settlement Agreement aims to fund critical infrastructure investments while keeping affordability and reliability front and center

* DEMAND FOR RELIABLE ENERGY - Growing demand for reliable energy highlighted by landmark projects such as New York's first all-electric skyscraper

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.90 $1.73 (7

Adjusted Analysts

EPS )

Q3 EPS $1.91

Q3 Beat $686 mln $609.90

Adjusted mln (3

Net Analysts

Income )

Q3 Net $688 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 8 "hold" and 6 "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy."

* Wall Street's median 12-month price target for Consolidated Edison Inc ( ED ) is $101.00, about 4.8% above its November 5 closing price of $96.11

* The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)