Group 1: Earnings Performance - Consolidated Edison reported quarterly earnings of $2.25 per share, missing the Zacks Consensus Estimate of $2.30 per share, but showing an increase from $2.15 per share a year ago, representing an earnings surprise of -2.17% [1] - The company posted revenues of $4.8 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 8.98%, compared to year-ago revenues of $4.28 billion [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Con Ed shares have increased approximately 26.4% since the beginning of the year, contrasting with the S&P 500's decline of -5.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.52 on $3.37 billion in revenues, and $5.62 on $15.94 billion in revenues for the current fiscal year [7] Group 3: Industry Context - The Utility - Electric Power industry, to which Con Ed belongs, is currently in the top 14% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The Zacks Rank for Con Ed is currently 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]

Financial Performance - Con Edison reported adjusted earnings per share (EPS) of $2.26 for 1Q 2025, the same as the GAAP EPS[10] - The company reaffirmed its 2025 adjusted EPS guidance range of $5.50 - $5.70[10] - The company declared a quarterly dividend of 85 cents a share on its common stock on April 17, 2025[44] - Net income for common stock for CET includes pre-tax investment income of $7.4 million from MVP and $9.0 million from New York Transco LLC for the three months ended March 31, 2025[103] Regulatory Updates and Capital Investments - Con Edison forecasts approximately $38 billion in capital investments from 2025 to 2029, targeting an 8.2% annual utility rate base growth[9] - CECONY submitted rate cases to the NYSPSC in January 2025, requesting new electric and gas rates effective January 1, 2026, and filed updates in April 2025, including a proposed 10% return on equity and a 48% equity ratio[17] - O&R's electric and gas rate plans were approved by the NYSPSC in March 2025, with a 9.75% return on equity and a 48% equity ratio[10, 36] - CECONY's updated climate change resilience plans propose investments of $645.4 million between 2025 and 2029, while O&R's plans propose $184.1 million for the same period[39] - The company identified $72 billion in investments from 2025-2034 in CECONY Integrated Long-Range Plan for Electric, Gas and Steam Services[26, 28] Customer Support and Affordability - Approximately 466,000 CECONY and O&R customers, or 14% of the customer base, receive public assistance[33] - CECONY and O&R's Energy Affordability Programs (EAP) aim to reduce energy burden to 6% of wallet for enrolled customers[35] - The CECONY EAP provided $311 million in discounts in 2024, a 17% increase over 2023[35]

Financial Performance - Consolidated Edison reported a first quarter net income of $791 million or $2.26 per share for 2025, an increase from $720 million or $2.08 per share in the same period of 2024 [1] - Adjusted earnings for the first quarter of 2025 were $792 million or $2.26 per share, compared to $742 million or $2.15 per share in 2024 [1][6] - The company reaffirmed its forecast for adjusted earnings per share for 2025 to be in the range of $5.50 to $5.70 [2] Strategic Focus - The company is focusing on robust investments in infrastructure to enhance grid security and support the clean energy transition, with projected capital investments of nearly $72 billion over the next 10 years [2] - The CEO emphasized the importance of maintaining reliability and meeting the growing demand for energy as customers increasingly rely on electricity for heating and transportation [2] Capital Management - During the first quarter, the company issued over $1.3 billion in new common equity, which satisfies its anticipated equity needs for 2025 [2] - The adjusted earnings exclude certain impacts related to the sale of its former subsidiary, Con Edison Clean Energy Businesses, and other accounting adjustments [1][6] Company Overview - Consolidated 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, and $71 billion in assets as of March 31, 2025 [7] - 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 [7]

Financial Performance - Consolidated Edison reported total operating revenues of $4,798 million for Q1 2025, a 12.1% increase from $4,280 million in Q1 2024[17] - Net income for common stock reached $791 million in Q1 2025, up 9.9% from $720 million in Q1 2024[17] - Operating income increased to $1,125 million in Q1 2025, compared to $1,011 million in Q1 2024, reflecting a growth of 11.3%[17] - Comprehensive income for Q1 2025 was $779 million, an increase from $716 million in Q1 2024[18] - Net income for Q1 2025 was $745 million, representing a 7.4% increase compared to $694 million in Q1 2024[25] - Operating income rose to $1,067 million in Q1 2025, up from $989 million in Q1 2024, reflecting a growth of 7.9%[24] - CECONY's total operating revenues for the three months ended March 31, 2025, were $4,441 million, an increase from $3,971 million in the same period of 2024, representing a growth of 11.8%[100] - CECONY's electric revenue increased to $2,768 million in Q1 2025 from $2,439 million in Q1 2024, reflecting a year-over-year increase of 13.5%[100] - CECONY's gas revenue rose to $1,401 million in Q1 2025, up from $1,243 million in Q1 2024, marking a growth of 12.7%[100] Expenses and Liabilities - The company’s total operating expenses rose to $3,673 million in Q1 2025, a 13.4% increase from $3,239 million in Q1 2024[17] - Total current liabilities decreased to $4,129 million as of March 31, 2025, down 25.7% from $5,559 million at the end of 2024[28] - Total liabilities decreased slightly to $44,256 million as of March 31, 2025, compared to $44,220 million at the end of 2024[28] - The Utilities recorded a deferred federal income tax liability of $1,200 million for Con Edison and $1,090 million for CECONY as of March 31, 2025[53] Cash Flow and Investments - Cash flows from operating activities were $837 million for Q1 2025, compared to $573 million in Q1 2024, indicating a significant increase of 46.3%[19] - The company reported a net cash flow from operating activities of $763 million for Q1 2025, an increase from $522 million in Q1 2024[26] - Total capital expenditures for Con Edison in Q1 2025 were $1,091 million, compared to $1,090 million in Q1 2024, showing a slight increase of 0.1%[109] - CECONY's costs for a new customer billing and information system reached $510 million, exceeding the $421 million cap, leading to a $51 million expense in May 2024[51] Shareholder Equity - Shareholders' equity increased to $21,649 million as of March 31, 2025, up from $19,971 million at the end of 2024, marking an 8.4% growth[28] - Con Edison’s total shareholder equity increased from $19,146 million as of March 31, 2024, to $21,649 million as of March 31, 2025[29] - Common stock dividends for Q1 2025 were $295 million, up from $287 million in Q1 2024[23] Regulatory and Rate Changes - CECONY filed for an electric rate increase of $1,608 million effective January 1, 2026, which is a decrease of $3 million from its previous request[47] - CECONY's gas rate increase request for January 1, 2026, was decreased by $91 million to $349 million[48] - Regulatory assets for Con Edison as of March 31, 2025, totaled $5,789 million, an increase from $5,664 million in 2024, while CECONY's regulatory assets rose to $5,400 million from $5,264 million[53] Environmental and Legal Matters - CECONY is cooperating with the NYSDPS investigation regarding non-conforming gas and steam main welds, with no significant operational impact anticipated[50] - Environmental investigation and remediation costs incurred related to Superfund Sites for the three months ended March 31, 2025, were $9 million for both Con Edison and CECONY[81] - The aggregate undiscounted potential liability for the investigation and remediation of environmental contaminants at manufactured gas plant sites could range up to $3,391 million for Con Edison and $3,237 million for CECONY[82] Debt and Financing - Long-term debt remained stable at $23,411 million as of March 31, 2025, compared to $23,409 million at the end of 2024[28] - CECONY entered into a 364-Day Revolving Credit Agreement for up to $500 million, expiring in March 2026, to support its commercial paper program[67] - CECONY borrowed $500 million and $200 million in November 2024 and January 2025, respectively, under a 364-Day Senior Unsecured Delayed Draw Term Loan Credit Agreement, maturing in November 2025[69] Derivative Instruments and Risk Management - The total fair value of derivative assets for Con Edison was $211 million as of March 31, 2025, compared to $95 million at the end of 2024, reflecting a substantial increase[112] - The total fair value of derivative liabilities for CECONY was $(339) million as of March 31, 2025, compared to $(179) million at the end of 2024, indicating an increase in liabilities[112] - The Companies utilize credit policies to manage credit risk, including monitoring counterparty limits and collateral arrangements[118] Miscellaneous - The average number of shares outstanding increased to 350.1 million in Q1 2025 from 345.5 million in Q1 2024[17] - The basic earnings per share (EPS) for the three months ended March 31, 2025, was $2.26, compared to $2.08 for the same period in 2024, reflecting an increase of 8.7%[41] - Con Edison completed the sale of the Clean Energy Businesses for $3,993 million on March 1, 2023, with a cumulative gain of $835 million recognized through March 31, 2024[145]

Financial Performance - Consolidated Edison reported Q1 2025 net income of $791 million, or $2.26 per share, compared to $720 million, or $2.08 per share in Q1 2024, representing a 9.86% increase in net income and an 8.65% increase in earnings per share [1]. - Adjusted earnings for Q1 2025 were $792 million, or $2.26 per share, up from $742 million, or $2.15 per share in Q1 2024, indicating a 6.75% increase in adjusted earnings [1][3]. - The company reported a total of $15 billion in annual revenues for the year ended December 31, 2024, and $71 billion in assets as of March 31, 2025 [8]. - The financial results for Q1 2025 provide a solid foundation for the year, with a focus on operational and financial objectives [2]. - The company experienced a total reported net income increase of $71 million, or $0.18 per share, compared to the previous year, with various factors contributing to this change [15]. Capital Investments and Guidance - The company anticipates nearly $72 billion in capital investments over the next 10 years to enhance grid security and support the clean energy transition [2]. - Consolidated Edison reaffirmed its adjusted earnings per share guidance for 2025 to be in the range of $5.50 to $5.70, excluding certain impacts from equity investments and strategic evaluations [2]. - The issuance of over $1.3 billion in new common equity during Q1 2025 satisfies the company's anticipated equity needs for the year [2]. Infrastructure and Reliability - Consolidated Edison continues to invest in infrastructure to maintain reliability and meet the growing demand for energy, particularly for heating and transportation [2]. Risks and Challenges - The company is subject to various risks, including regulatory changes, environmental consequences, and market disruptions, which could impact future performance [6].

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]