Consolidated Edison Reports Strong Fourth-Quarter 2025 Results

Consolidated Edison, Inc. (NYSE: ED), a leading American energy company, announced its fourth-quarter 2025 financial results on February 19, 2026, delivering results that beat analysts’ expectations on both earnings and revenues. The company’s performance reflected solid growth in its core utility operations amid continued demand for electricity, gas and steam services.

Quarterly Earnings Per Share (EPS) Beat Estimates

For the quarter ended December 31, 2025, Consolidated Edison reported adjusted earnings per share of $0.89, topping the Zacks Consensus Estimate of approximately $0.84. This represents an earnings surprise of roughly +5.6%, signaling better-than-expected profitability for the period.

The reported EPS, while slightly lower than the $0.98 per share achieved in the same quarter a year earlier, still exceeded market expectations, demonstrating the company’s resilience and operational efficiency in a challenging utility environment.

Revenue Growth Exceeds Projections

Total revenues for the fourth quarter rose to about $3.99 billion, reflecting an 8.9% increase compared to the prior-year period and surpassing Wall Street’s consensus revenue estimate of roughly $3.7 billion. The year-over-year growth was driven by higher electric, gas and steam sales across Consolidated Edison’s service territory.

This revenue expansion is a positive indicator that demand for essential energy services remained robust during the winter months, and that the company was able to capture increased usage and price adjustments where applicable.

Performance of Operating Segments

Underlying operational metrics show that most of Consolidated Edison’s key segments contributed to the overall revenue growth. Both the electric and gas utility businesses reported healthy increases in operating revenues compared to analyst forecasts, although some segments like Con Edison Transmission showed mixed results.

Overall, the revenue performance across the utility’s service lines reflects a balanced mix of demand growth and strategic pricing that helped lift top-line results for the quarter.

Comparison to Prior Years and Analyst Expectations

While earnings per share were slightly lower compared to the same period in the prior year, the fact that the company beat market estimates on both EPS and revenue is seen as encouraging by investors and analysts. Historically, Consolidated Edison has delivered several consecutive quarters where the company’s results have topped expectations, reinforcing confidence in its earnings quality.

FY 2026 Guidance

Alongside the quarterly results, Consolidated Edison also provided guidance for the full year 2026. Management expects adjusted earnings per share to be in the range of approximately $6.00 to $6.20, reflecting confidence in ongoing operational efficiency and continued demand for its utility services.

This guidance offers a forward-looking perspective and helps set expectations for investors about the company’s performance potential in the year ahead. Future revenue forecasts and operating conditions will depend on weather, regulatory decisions and economic activity within the regions served by the company.

Market Reaction and Outlook

Following the earnings release, market participants have monitored the company’s stock performance alongside broader energy sector trends. The earnings beat and strong revenue growth helped support investor sentiment, although the utility sector remains sensitive to interest rates, regulatory developments and capital expenditure plans.

Consolidated Edison remains one of the largest investor-owned energy companies in the United States, serving customers with electricity, gas and steam primarily in the New York metropolitan area. The company’s diversified energy services and long history in the industry add to its profile as a key utility player in the market.

Looking Ahead

As the company enters 2026, analysts and investors will closely watch subsequent quarterly results, operational updates and guidance revisions as indicators of long-term stability. Consolidated Edison’s performance in Q4 2025 shows resilience and the potential for continued moderate growth in earnings and revenues, supporting its standing in the utility sector.

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