Core Viewpoint - The article discusses the search for defensive investment opportunities to enhance portfolio stability in a challenging economic environment, particularly focusing on income-generating strategies favored by a Generation X investor [1]. Group 1: Investment Strategy - The investor profile described is a Generation X individual who is over-educated and under-funded, seeking ways to increase income [1]. - The investment approach leans towards conservative, income-generating strategies typically associated with older investors, while also recognizing the value of growth strategies favored by younger investors [1].

Core Insights - Recession-resistant companies, particularly in the utilities sector, maintain stable dividends even during economic downturns [2][12] - Consolidated Edison, NextEra Energy, and Southern Company are highlighted as top utility stocks with strong dividend histories [2][4][10] Company Summaries - **Consolidated Edison**: - Provides electricity and natural gas services in New York City, generating stable earnings due to government-regulated rates [3] - Increased its dividend for 51 consecutive years, qualifying as a Dividend King [4] - Maintains a conservative payout ratio of 55% to 65% of adjusted earnings, allowing for continued investment in infrastructure [5] - **NextEra Energy**: - Operates the largest electric utility in the U.S. and has a significant renewable energy portfolio [6] - Achieved a 10% annual dividend growth rate over the past 20 years, with expectations to continue this growth [7] - Plans to invest $120 billion in energy infrastructure over the next four years to support growth [8] - **Southern Company**: - Operates multiple electric and natural gas utilities in the South, generating stable earnings [9] - Has paid dividends for 77 years, increasing payments for 23 consecutive years [10] - Plans to invest $63 billion through 2029 to support growing power demand, targeting 5% to 7% annual earnings growth [11] Industry Insights - Utilities are characterized by recession resilience, as demand for electricity and gas remains stable even during economic downturns [12] - Government regulation of rates allows utilities to maintain stable cash flows, supporting consistent dividend payments [12]

Group 1 - Consolidated Edison, Inc. (Con Edison) plans to report its 1st Quarter 2025 earnings on May 1, 2025, after the market closes [1] - Con Edison is one of the largest investor-owned energy-delivery companies in the U.S., with approximately $15 billion in annual revenues for the year ended December 31, 2024 [2] - The company has total assets of $71 billion as of December 31, 2024 [2] Group 2 - Con Edison provides a wide range of energy-related products and services through its subsidiaries, including Consolidated Edison Company of New York, Inc., Orange and Rockland Utilities, Inc., and Con Edison Transmission, Inc. [2] - The regulated utility services include electric service in New York City and Westchester County, gas service in parts of Manhattan, the Bronx, Queens, and Westchester, and steam service in Manhattan [2] - Orange and Rockland Utilities serves customers in a 1,300-square-mile area in southeastern New York State and northern New Jersey [2]

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Consolidated Edison (ED) , which belongs to the Zacks Utility - Electric Power industry.This utility has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 4.36%.For the last reported quarter, Con Ed came out with earnings of $0.98 per sh ...

Group 1 - Consolidated Edison, Inc. will hold investor meetings during the weeks of March 10, 2025, and March 17, 2025 [1] - Investor presentations for these meetings will be available on the company's website under the Presentations & Webcasts section [1] Group 2 - Consolidated Edison, Inc. is one of the largest investor-owned energy-delivery companies in the U.S., with approximately $15 billion in annual revenues and $71 billion in assets [2] - The company operates through several subsidiaries, including Consolidated Edison Company of New York, Inc., which provides electric, gas, and steam services in New York City and surrounding areas [2] - Orange and Rockland Utilities, Inc. serves a 1,300-square-mile area in southeastern New York State and northern New Jersey [2] - Con Edison Transmission, Inc. manages electric and gas assets and seeks to develop electric transmission projects under the oversight of the Federal Energy Regulatory Commission [2]

Consolidated Edison, Inc. (ED) reported fourth-quarter 2024 adjusted earnings of 98 cents per share, which beat the Zacks Consensus Estimate of 97 cents per share by 1%. However, the bottom line declined 2% from $1 per share recorded in the prior-year quarter.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.The company posted GAAP earnings of 90 cents per share compared with 97 cents per share in the fourth quarter of 2023.The year-over-year deterioration can be attributed to high ...

For the quarter ended December 2024, Consolidated Edison (ED) reported revenue of $3.67 billion, up 6.5% over the same period last year. EPS came in at $0.98, compared to $1.00 in the year-ago quarter.The reported revenue represents a surprise of +2.56% over the Zacks Consensus Estimate of $3.58 billion. With the consensus EPS estimate being $0.97, the EPS surprise was +1.03%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Group 1 - Consolidated Edison (Con Ed) reported quarterly earnings of $0.98 per share, exceeding the Zacks Consensus Estimate of $0.97 per share, but down from $1 per share a year ago, representing an earnings surprise of 1.03% [1] - The company posted revenues of $3.67 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.56% and up from $3.44 billion year-over-year [2] - Con Ed has outperformed the S&P 500 with a 6.8% increase in shares since the beginning of the year compared to the S&P 500's gain of 4.5% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $2.22 on revenues of $4.41 billion, and for the current fiscal year, it is $5.62 on revenues of $15.93 billion [7] - The Zacks Industry Rank for Utility - Electric Power is in the bottom 46% of over 250 Zacks industries, indicating potential challenges for stock performance [8] Group 3 - The estimate revisions trend for Con Ed is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Exhibit 99.1 212 460 4111 (24 hours) 4 Irving Place Media Relations Consolidated Edison, Inc. New York, NY 10003 www.conEdison.com February 20, 2025 212-460-4111 FOR IMMEDIATE RELEASE Contact: Allan Drury CON EDISON REPORTS 2024 EARNINGS NEW YORK - Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2024 net income for common stock of $1,820 million or $5.26 a share compared with $2,519 million or $7.25 a share in 2023. Adjusted earnings (non- GAAP) were $1,868 million or $5.40 a share in 2024 ...

Financial Performance - The gain on the sale of the Clean Energy Businesses for the year ended December 31, 2023, was $(865) million net of tax, reflecting a loss of $(2.49) per share[37]. - Reported net income for common stock on a GAAP basis was $1,820 million in 2024, down from $2,519 million in 2023, representing a decrease of approximately 27.7%[39]. - Adjusted earnings (Non-GAAP) increased to $1,868 million in 2024 from $1,762 million in 2023, reflecting a growth of about 6.0%[39]. - Reported earnings per share on a GAAP basis decreased to $5.26 in 2024 from $7.25 in 2023, a decline of approximately 27.5%[39]. - Adjusted earnings per share (Non-GAAP) rose to $5.40 in 2024, compared to $5.07 in 2023, indicating an increase of about 6.5%[39]. - The company recorded a pre-tax loss of $63 million related to the sale of the Clean Energy Businesses in 2024, compared to a pre-tax gain of $887 million in 2023[39]. - The effective income tax rate for 2024 was 24%, compared to 25% in 2023 and 31% in 2022[40]. - The net mark-to-market effects (net of tax) were $9 million in 2024, a significant improvement from a loss of $125 million in 2023[39]. - The HLBV effects (net of tax) were $3 million in 2024, compared to $8 million in 2023, showing a decrease of 62.5%[39]. Capital Expenditures and Financing - Con Edison plans to issue common equity of approximately $1,850 million in 2026 and up to $4,300 million in aggregate during 2027 through 2029[28]. - CECONY's capital expenditures for gas facilities were $11,830 million in 2024, up from $11,226 million in 2023[99]. - CECONY's total capital expenditures for 2024 were $4,728 million, an increase from $4,509 million in 2023 and $4,465 million in 2022, reflecting a growth of approximately 4.9% year-over-year[137]. - For the years 2025 through 2029, CECONY estimates total capital expenditures will reach $7,778 million in 2025, increasing to $9,223 million by 2028[141]. - Con Edison plans to issue up to $1,750 million of long-term debt in 2025 and up to $3,800 million in 2026, with a total of approximately $9,100 million planned for 2027 through 2029[155]. - As of December 31, 2024, CECONY's long-term debt totaled $23,650 million, with $21,900 million due after five years[145]. - The total long-term debt, including interest, amounted to $47,545 million, with $40,144 million due after five years[145]. - The NYSPSC authorized CECONY to issue up to $6,050 million of debt securities through 2027, of which $2,625 million had been issued as of December 31, 2024[156]. Customer and Market Operations - CECONY provides electric service to approximately 3.7 million customers across New York City and Westchester County, covering an area of about 660 square miles with a population exceeding 9 million[49]. - CECONY delivers gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and most of Westchester County[50]. - CECONY operates the largest steam distribution system in the U.S., producing and delivering approximately 15,494 million pounds of steam annually to around 1,520 customers in parts of Manhattan[51]. - O&R provides electric service to approximately 0.3 million customers in southeastern New York and northern New Jersey, covering an area of about 1,300 square miles[53]. - In 2024, 58% of the electricity and 32% of the gas delivered by CECONY was purchased by customers from other suppliers[58]. Regulatory and Compliance - The NYSPSC regulates the Utilities, setting terms of service and rates, with the authority to impose penalties for violations of state utility laws[56]. - The NYSPSC approved CECONY's and O&R's emergency response plans in April 2024, with updated plans submitted for 2025[69]. - The Federal Energy Regulatory Commission (FERC) regulates the transmission and wholesale sales of electricity and natural gas, impacting the Utilities and Con Edison Transmission[72]. - The NYSPSC has mandated a target of 6,000 MW of energy storage deployment by 2030, with additional targets of 12,000 MW by 2040 and 17,000 MW by 2050[179]. Environmental and Sustainability Initiatives - The company emphasizes its mission to provide energy services safely and efficiently while improving community quality of life[23]. - CECONY's estimated Scope 1 GHG emissions for 2024 are 2.7 million metric tons, consistent with previous years[194]. - Con Edison has achieved a more than 55% reduction in direct GHG emissions from a 2005 baseline of 6.0 million metric tons[195]. - The Utilities billed customers clean energy fund surcharges of $277 million, $224 million, and $216 million in 2024, 2023, and 2022, respectively[197]. Infrastructure and Technology Development - The company is focusing on expanding its electric and gas facilities to meet growing demand, with plans for new infrastructure investments[41]. - CECONY's capitalized costs for utility plant, net of accumulated depreciation, for distribution facilities increased to $23,770 million in 2024 from $23,238 million in 2023[79]. - CECONY's electric generating facilities have a combined electric nameplate capacity of approximately 634 MW, with sufficient gas and fuel oil expected for 2025[83]. - CECONY's transmission facilities include 490 miles of overhead circuits and 760 miles of underground circuits, ensuring robust infrastructure for electricity delivery[81]. - CECONY's total distribution-level distributed generation (DG) capacity connected to the Utilities' systems increased to 1,085 MW in 2024, up from 924 MW in 2023, marking a 17.4% growth[77]. Future Outlook and Strategic Initiatives - Con Edison anticipates that the Utilities will continue to provide substantially all of its earnings over the next few years, supported by approved rate plans[24]. - Future outlook indicates a projected growth rate of 15% in electric operations for the next fiscal year[41]. - The company is investing in new technologies to enhance reliability and efficiency in electric supply, aiming for a 10% improvement in service delivery[41]. - Market expansion strategies include entering new geographic regions, targeting a 20% increase in market share over the next two years[41]. - The company is exploring potential acquisitions to bolster its gas operations, with a focus on enhancing service capabilities[41]. Legal and Liability Issues - CECONY's potential liability for the completion of site investigation and cleanup of known contamination on manufactured gas plant sites could range from $622 million to $2,432 million[205]. - CECONY's potential liability for the Astoria site cleanup is estimated to range from $278 million to $929 million[206]. - A lawsuit filed in October 2024 estimates total cleanup costs at the Gowanus Canal Superfund Site to exceed $1,000 million[211]. - CECONY is unable to estimate its total exposure to liability for the Gowanus Canal Superfund Site[212].