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Consolidated Edison misses quarterly profit estimates on higher operating and interest expenses
Reuters· 2026-02-19 22:24
Core Viewpoint - Consolidated Edison missed fourth-quarter profit estimates due to increased operating and interest expenses, influenced by variable weather conditions and prolonged high interest rates [1] Financial Performance - The company's operating expenses rose to $3.51 billion in the fourth quarter, up from $3.16 billion the previous year [1] - Interest expenses increased to $313 million, compared to $304 million a year ago [1] - Adjusted profit for the quarter was 89 cents per share, below analysts' average estimate of 95 cents per share [1] Future Outlook - Consolidated Edison plans capital investments of approximately $6.56 billion in 2026 and $6.76 billion in 2027 [1] - The company forecasts full-year adjusted profit in the range of $6 to $6.20 per share, while analysts expect a profit of $6.03 per share [1] - The CFO indicated a target for five-year adjusted profit per share growth at a compounded annual rate of 6 to 7 percent, using the midpoint of 2026 adjusted EPS guidance as a baseline [1]