Consolidated Edison Q3 Earnings Beat Estimates, Revenues Rise Y/Y

Core Insights - Consolidated Edison, Inc. (ED) reported third-quarter 2025 adjusted earnings of $1.90 per share, exceeding the Zacks Consensus Estimate of $1.76 by 7.9% and improving 13.1% from $1.68 in the prior-year quarter [1] - The company’s total operating revenues for the quarter reached $4.53 billion, surpassing the Zacks Consensus Estimate of $4.16 billion by 8.8% and increasing 10.7% from $4.09 billion in the year-ago quarter [2] Financial Performance - Electric revenues totaled $4.04 billion, a 10% increase from $3.67 billion in the year-ago quarter [3] - Gas revenues amounted to $433 million, surging 16.1% from $373 million in the prior-year quarter [3] - Steam revenues rose to $56 million, up 14.3% from $49 million in the year-ago quarter [3] - Total operating expenses increased 10.2% year over year to $3.56 billion, with purchase power costs rising 21.8% [4] - The company’s operating income for the third quarter increased 12.3% year over year to $968 million [5] Cash and Debt Position - Cash and temporary cash investments as of September 30, 2025, totaled $0.02 billion, down from $1.32 billion as of December 31, 2024 [6] - Long-term debt was reported at $24.91 billion as of September 30, 2025, compared to $24.65 billion at the end of 2024 [6] - Cash from operating activities for the first nine months of 2025 amounted to $3.11 billion, compared to $2.09 billion in the prior-year period [6] 2025 Guidance - The company has revised its 2025 EPS outlook to a range of $5.60-$5.70, narrowing to the upper half of the previous guidance of $5.50-$5.70 [9] - The Zacks Consensus Estimate for 2025 earnings is pegged at $5.62, which is higher than the midpoint of the company's revised guidance [9]