Consolidated Edison Analysts Increase Their Forecasts Following Better-Than-Expected Results

Core Insights - Consolidated Edison, Inc. reported better-than-expected first-quarter results with adjusted earnings of $2.26 per share, surpassing market estimates of $2.20 per share, and quarterly sales of $4.80 billion, exceeding expectations of $4.44 billion [1][2] Financial Performance - The company achieved adjusted earnings of $2.26 per share, beating the market estimate of $2.20 per share [1] - Quarterly sales reached $4.80 billion, compared to expectations of $4.44 billion [1] Strategic Outlook - The CEO emphasized strong execution of the company's strategy, focusing on infrastructure investments to enhance reliability and support the clean energy transition [2] - Consolidated Edison plans to invest nearly $72 billion over the next 10 years to ensure continued service delivery and stable returns for investors [2] - The company affirmed its FY2025 adjusted EPS guidance of $5.50 to $5.70, slightly below market estimates of $5.63 [2] Market Reaction - Following the earnings announcement, Consolid Edison shares fell by 2.6%, trading at $109.62 [3] - Analysts adjusted their price targets for Consolidated Edison, with Guggenheim raising it from $96 to $103 and Wells Fargo increasing it from $103 to $114 [8]