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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Consolidated Edison
Consolidated Edison (ED) investor relations material
Consolidated Edison Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 net income was $766M and adjusted EPS was $2.07, versus $688M and $1.90 in Q3 2025; 2026 adjusted EPS guidance narrowed to $6.05–$6.15.
Nine-month net income was $1.998B and adjusted earnings were $1.864B; reported results included a $134M after-tax gain from the MVP sale.
Priorities include reliable earnings growth, infrastructure investment, system reliability, and affordability amid electrification and changing energy needs.
Financial highlights
Q3 revenue was $4.913B versus $4.530B, and operating income was $1.170B versus $968M year over year.
Nine-month revenue was $14.078B versus $12.924B, and operating income was $2.900B versus $2.448B.
Nine-month adjusted EPS was $5.08 versus $4.82; adjusted earnings rose $146M year over year after specified exclusions.
Nine-month operating cash flow was $2.825B versus $3.320B; utility capital expenditures were $4.051B versus $3.460B.
Outlook and guidance
2026 adjusted EPS guidance narrowed to $6.05–$6.15 from $6.00–$6.20; it excludes MVP sale gains, basis-difference accretion, strategic review costs, and HLBV effects.
Average investment earnings base is forecast to reach $71.393B in 2030, with a stated five-year CAGR of 8.7%.
Estimated capital requirements for 2027–2029 were reduced to $7.489B, $7.877B, and $8.546B, respectively; utility capital investment forecasts are $8.571B in 2027 and $8.588B in 2028.
CECONY forecasts New York City electric reliability needs of 125 MW from 2033, rising to 675 MW by 2036; proposed storage and clean-energy procurement are subject to approval.
CECONY's three-year steam rate proposal covers November 2026–October 2029, with requested base-rate changes of $13M, $42M, and $39M by year; approval is pending.
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Latest events from Consolidated Edison
- Adjusted earnings grew as regulated utilities drove results after the clean-energy asset sale.ED
Q4 2023 - A $38bn grid buildout backs electrification, resilience and 8.7% earnings-base growth.EDInvestor update
- Q2 2026 adjusted EPS rose to $0.83, with guidance reaffirmed at $6.00–$6.20 per share.EDQ2 2026
- Record dividend, $38B investment in clean energy, and all proposals approved by shareholders.EDAGM 2026
- Q1 2026 net income was $924M, adjusted EPS $2.18, and 2026 guidance reaffirmed at $6.00–$6.20.EDQ1 2026
- Virtual annual meeting to vote on directors, auditor ratification, and executive pay.EDProxy filing
- Virtual annual meeting to vote on directors, auditor, and executive pay, with strong ESG focus.EDProxy filing
- $72B investment drives grid modernization, electrification, and sustainable growth in New York.EDInvestor Update
- Major investments in clean energy, resilience, and equity drive a reliable energy transition.EDESG Update
Next Consolidated Edison earnings date
Q4 202618 Feb, 2027
Consolidated Edison
Next Consolidated Edison earnings date
Q4 202618 Feb, 2027
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Frequently asked questions
New York’s Energy Supplier
Consolidated Edison, commonly referred to as Con Edison, is an American energy company primarily serving the New York metropolitan area. The company is one of the largest investor-owned energy companies in the United States and provides a wide array of energy-related products and services through its various subsidiaries. Con Edison’s main operations involve the production and distribution of electricity, gas, and steam. The company is headquartered in NYC, and its shares are traded on the NYSE.
Roots in the 1800s and Thomas Edison
The earliest predecessor to what would later go on to become Con Edison was the New York Gas Light Company, which was founded in 1823. Con Edison, as suggested by the name, is the result of the merger and consolidation of numerous companies, including the aforementioned Gas Light Company, The New York Steam Company, and Thomas Edison’s Edison Illuminating Company. The group continued to grow and acquire various utility companies in the New York metropolitan area over the years, and the modern form of the company (which got its name in 1998) is the result of the consolidation and merger of well over 150 different companies.
Electricity
Con Edison primarily serves New York City and Westchester County and generates, transmits, and distributes electric power to millions of residential, commercial, and industrial customers. This segment of Con Edison’s business involves managing a complex grid system, which includes substations, transmission lines, and distribution networks. The company places a strong emphasis on maintaining system reliability and efficiency, ensuring uninterrupted power supply in a region known for high energy demand. Some other publicly traded US-based electricity companies are Duke Energy, Dominion Energy, and Exelon.
Gas and Steam
Besides electricity In the steam sector, Con Edison operates the largest district steam system in the United States, supplying steam for heating, hot water, and air conditioning to numerous buildings in Manhattan. This service is crucial for both residential and commercial establishments, including iconic structures and healthcare facilities. The company also supplies natural gas to customers within its service area.