Financial Data and Key Metrics Changes - The annualized dividend grew for the fifty-first consecutive year to $3.40 per share, indicating a strong commitment to returning value to shareholders [18] Business Line Data and Key Metrics Changes - The company plans to invest approximately $38 billion over the next five years to build and maintain systems for safe, reliable, resilient, and affordable energy [11] - In 2024, the company distributed $85 million in clean heat incentives to support energy efficiency upgrades for low to moderate-income customers [14] Market Data and Key Metrics Changes - The electric service provided by the company is reported to be nine times more reliable than the national average, highlighting its strong market position [9][19] Company Strategy and Development Direction - The company is focused on transitioning to clean energy and plans to expand its capacity across its electric system, including transmission lines and substations [21] - The strategy includes significant investments in infrastructure to support the electrification of heating and transportation in New York [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet New York's aggressive climate targets and emphasized the importance of reliability and affordability in energy delivery [22][23] - The company is actively assessing the impact of tariff threats and changes, indicating a proactive approach to potential challenges [24] Other Important Information - The company supports over 41,000 jobs, contributing to 1% of New York State's gross domestic product, showcasing its economic impact [17] Q&A Session Summary Question: Investments proposed for customer electrification needs - The company proposed a $21 billion capital investment plan over three years to enhance energy reliability and support the clean energy transition [19][21] Question: Meeting renewable energy goals amid regulatory challenges - Management highlighted the state's aggressive climate targets and the company's commitment to facilitating these goals despite challenges in the generation mix [22][23] Question: Impact of tariff threats on the company - Initial estimates suggest that tariffs will not significantly impact overall plans, with ongoing assessments being conducted [24] Comment: Appreciation for positive work relationships - A representative expressed gratitude for the company's employment opportunities and support for fair wages and benefits [25][26] Question: Consideration of a stock split - Management acknowledged the suggestion for a stock split but emphasized that it would not change the fundamentals of the business [28][30]
Con Edison(ED) - 2025 FY - Earnings Call Transcript