The EPS beat and reaffirmed guidance are mildly positive, but the utility sector's slow-growth nature and the stock's historical muted reaction to earnings suggest limited near-term upside. Monitor the Q3 2026 10-Q for any changes in rate case outcomes or capital expenditure plans that could shift the long-term growth trajectory.
Price Chart
Executive Summary
Con Edison reported Q2 2026 GAAP EPS of $0.83, beating the $0.77 consensus by 7.8%, and reaffirmed its full-year 2026 adjusted EPS guidance of $6.00-$6.20. Revenue was not explicitly reported in the press release, but the beat was driven by higher electric and gas rate base at CECONY and lower operating expenses. The reaffirmed guidance and steady utility operations support a neutral-to-slightly-positive read, though the stock's historical performance on such reports has been mixed.
Key Financial Metrics
Key Facts
- Q2 2026 GAAP EPS of $0.83 vs consensus $0.77 (beat by 7.8%)
- Q2 2026 adjusted EPS (non-GAAP) of $0.83 vs $0.67 in Q2 2025
- Reaffirmed full-year 2026 adjusted EPS guidance of $6.00-$6.20
- Net income for common stock was $308M in Q2 2026 vs $246M in Q2 2025
- CECONY segment drove the beat with higher electric and gas rate base and lower O&M expenses
Financial Impact
EPS beat of $0.06 vs consensus; net income up $62M YoY
Risk Factors
- Regulatory risk from New York utility rate cases could pressure future returns
- Higher interest expense on long-term debt may offset rate base growth
- Execution risk on $28B+ capital investment plan for substations and grid resilience
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302845443 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | Press Release | $107.98 $107.29 | ▼ −0.64% | ▼ −0.24% | $103.50 (−4.15%) |
Jul 15, 2026 11w ago | Press Release | $112.39 $108.39 | ▼ −3.56% | ▼ −7.18% | $103.50 (−7.91%) |
Jun 3, 2026 17w ago | 8-K | $103.48 $113.99 | ▲ +10.16% | ▲ +11.16% | $103.50 (+0.02%) |
May 8, 2026 20w ago | 8-K | $106.21 $106.40 | ▼ −0.18% | ▼ −0.48% | $103.50 (+2.55%) |
May 8, 2026 20w ago | 424B5 | $106.21 $106.40 | ▼ −0.18% | ▼ −0.48% | $103.50 (+2.55%) |
Apr 8, 2026 25w ago | DEFA14A | $114.98 $106.87 | ▼ −7.05% | ▼ −14.62% | $103.50 (−9.98%) |
Apr 2, 2026 26w ago | Court Ruling | $115.43 $111.49 | ▼ −3.41% | ▼ −13.29% | $103.50 (−10.34%) |
Mar 12, 2026 29w ago | Insider Cluster | $113.13 $113.56 | ▲ +0.38% | ▼ −1.59% | $103.50 (−8.51%) |
Mar 11, 2026 29w ago | 8-K | $113.13 $113.56 | ▲ +0.38% | ▼ −1.59% | $103.50 (−8.51%) |
Mar 10, 2026 29w ago | Court Ruling | $111.30 $113.57 | ▲ +2.04% | ▲ +2.19% | $103.50 (−7.01%) |
US Market Status
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