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{\"0\":\"ED earned 67 cents per share in Q2, up 13.6% year over year and slightly above the consensus estimate.\",\"1\":\"Q2 revenues rose 11.7% to $3.60B, driven by higher gas, steam, electric and non-utility sales.\",\"2\":\"ED reaffirmed 2025 EPS guidance of $5.50-$5.70, matching the prior forecast range.\"}
Consolidated Edison, Inc. (ED - Free Report) reported second-quarter 2025 adjusted earnings of 67 cents per share, which topped the Zacks Consensus Estimate of 66 cents by 1.5%. The bottom line also improved 13.6% from 59 cents recorded in the prior-year quarter.
The company reported GAAP earnings of 68 cents per share, up from earnings of 58 cents recorded in the year-ago quarter.
The year-over-year increase can be attributed to higher revenue growth and operating income generated in the second quarter of 2025 compared to the prior-year quarter’s level.
Consolidated Edison Inc Price, Consensus and EPS Surprise
In the reported quarter, Consolidated Edison's total operating revenues of $3.60 billion surpassed the Zacks Consensus Estimate of $3.39 billion by 6.2%. The top line also increased 11.6% from $3.22 billion reported in the year-ago quarter. The upside was driven by higher gas, steam, electric and non-utility revenues.
Electric revenues totaled $2.78 billion, which increased 8.9% from the year-ago quarter’s figure of $2.55 billion.
Gas revenues amounted to $711 million, which surged 22.2% from the year-ago quarter’s figure of $582 million.
Steam revenues totaled $106 million, which rose 20.5% from the year-ago quarter’s figure of $88 million. Non-utility revenues were $1 million compared with nil generated in the year-earlier quarter.
ED’s Operating Statistics
Total operating expenses in the second quarter increased 11.7% year over year to $3.24 billion.
Purchase power costs rose 16.7%. Other operations and maintenance expenses fell 4.6%. Meanwhile, depreciation and amortization expenses jumped 12.5%. Taxes, other than income taxes, went up 14.3% year over year. Fuel expenses surged 80% year over year, and the cost of gas purchased for resale rose 151.5%.
The company’s second-quarter operating income went up 10.9% year over year to $355 million.
ED’s Financials
Cash and temporary cash investments as of June 30, 2025 were $1.51 billion compared with $1.32 billion as of Dec. 31, 2024.
The company’s long-term debt was $24.66 billion as of June 30, 2025 compared with $24.65 billion as of the 2024 end.
During the first six months of 2025, cash from operating activities amounted to $2.82 billion compared with $1.91 billion in the prior year.
ED’s 2025 Guidance
Consolidated Edison reaffirmed its 2025 guidance. It still expects to generate adjusted earnings per share (EPS) in the range of $5.50-$5.70. The Zacks Consensus Estimate for 2025 earnings is pegged at $5.63, which is higher than the midpoint of the company’s guided range.
Edison International (EIX - Free Report) reported second-quarter 2025 adjusted earnings of 97 cents per share, which surpassed the Zacks Consensus Estimate of 88 cents by 10.2%. However, the bottom line decreased 21.1% from $1.23 in the year-ago quarter.
Edison International's second-quarter operating revenues totaled $4.54 billion, which beat the Zacks Consensus Estimate of $4.19 billion by 8.4%. The top line also increased 4.8% from the year-ago quarter’s figure of $4.34 billion.
PG&E Corporation (PCG - Free Report) reported second-quarter 2025 adjusted EPS of 31 cents, which lagged the Zacks Consensus Estimate of 33 cents by 6.1%. The bottom line was in line with the prior-year quarter.
PCG reported second-quarter total revenues of $5.90 billion, down 1.5% from $5.99 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.32 billion by 6.6%.
NRG Energy, Inc. (NRG - Free Report) reported second-quarter 2025 earnings of $1.68 per share, which topped the Zacks Consensus Estimate of $1.54 by 9.1%. In the year-ago quarter, the company reported earnings of $1.48.
Total revenues were $6.74 billion, which beat the Zacks Consensus Estimate of $6.02 billion by 12%. The top line also increased 1.2% from the prior-year quarter’s level of $6.66 billion.
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Consolidated Edison Q2 Earnings Beat Estimates, Revenues Rise Y/Y
Key Takeaways
Consolidated Edison, Inc. (ED - Free Report) reported second-quarter 2025 adjusted earnings of 67 cents per share, which topped the Zacks Consensus Estimate of 66 cents by 1.5%. The bottom line also improved 13.6% from 59 cents recorded in the prior-year quarter.
The company reported GAAP earnings of 68 cents per share, up from earnings of 58 cents recorded in the year-ago quarter.
The year-over-year increase can be attributed to higher revenue growth and operating income generated in the second quarter of 2025 compared to the prior-year quarter’s level.
Consolidated Edison Inc Price, Consensus and EPS Surprise
Consolidated Edison Inc price-consensus-eps-surprise-chart | Consolidated Edison Inc Quote
ED’s Total Revenues
In the reported quarter, Consolidated Edison's total operating revenues of $3.60 billion surpassed the Zacks Consensus Estimate of $3.39 billion by 6.2%. The top line also increased 11.6% from $3.22 billion reported in the year-ago quarter. The upside was driven by higher gas, steam, electric and non-utility revenues.
Electric revenues totaled $2.78 billion, which increased 8.9% from the year-ago quarter’s figure of $2.55 billion.
Gas revenues amounted to $711 million, which surged 22.2% from the year-ago quarter’s figure of $582 million.
Steam revenues totaled $106 million, which rose 20.5% from the year-ago quarter’s figure of $88 million. Non-utility revenues were $1 million compared with nil generated in the year-earlier quarter.
ED’s Operating Statistics
Total operating expenses in the second quarter increased 11.7% year over year to $3.24 billion.
Purchase power costs rose 16.7%. Other operations and maintenance expenses fell 4.6%. Meanwhile, depreciation and amortization expenses jumped 12.5%. Taxes, other than income taxes, went up 14.3% year over year. Fuel expenses surged 80% year over year, and the cost of gas purchased for resale rose 151.5%.
The company’s second-quarter operating income went up 10.9% year over year to $355 million.
ED’s Financials
Cash and temporary cash investments as of June 30, 2025 were $1.51 billion compared with $1.32 billion as of Dec. 31, 2024.
The company’s long-term debt was $24.66 billion as of June 30, 2025 compared with $24.65 billion as of the 2024 end.
During the first six months of 2025, cash from operating activities amounted to $2.82 billion compared with $1.91 billion in the prior year.
ED’s 2025 Guidance
Consolidated Edison reaffirmed its 2025 guidance. It still expects to generate adjusted earnings per share (EPS) in the range of $5.50-$5.70. The Zacks Consensus Estimate for 2025 earnings is pegged at $5.63, which is higher than the midpoint of the company’s guided range.
ED’s Zacks Rank
Consolidated Edison currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Edison International (EIX - Free Report) reported second-quarter 2025 adjusted earnings of 97 cents per share, which surpassed the Zacks Consensus Estimate of 88 cents by 10.2%. However, the bottom line decreased 21.1% from $1.23 in the year-ago quarter.
Edison International's second-quarter operating revenues totaled $4.54 billion, which beat the Zacks Consensus Estimate of $4.19 billion by 8.4%. The top line also increased 4.8% from the year-ago quarter’s figure of $4.34 billion.
PG&E Corporation (PCG - Free Report) reported second-quarter 2025 adjusted EPS of 31 cents, which lagged the Zacks Consensus Estimate of 33 cents by 6.1%. The bottom line was in line with the prior-year quarter.
PCG reported second-quarter total revenues of $5.90 billion, down 1.5% from $5.99 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.32 billion by 6.6%.
NRG Energy, Inc. (NRG - Free Report) reported second-quarter 2025 earnings of $1.68 per share, which topped the Zacks Consensus Estimate of $1.54 by 9.1%. In the year-ago quarter, the company reported earnings of $1.48.
Total revenues were $6.74 billion, which beat the Zacks Consensus Estimate of $6.02 billion by 12%. The top line also increased 1.2% from the prior-year quarter’s level of $6.66 billion.