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EDBullishEarningsShort Term

High materiality7/10

CON EDISON REPORTS 2026 SECOND QUARTER EARNINGS

StockNews.AIAug 6, 4:41 PM EDT1 source

Trading thesisImportance 7/10

Bullish on ED in the next 6–12 months as capex-driven growth and guidance support returns.

AI summary

What happened and why it matters

Con Edison posted Q2 2026 net income of $308 million, or $0.83 per share, matching adjusted earnings and up from 2025. The company reaffirmed its 2026 adjusted EPS guidance of $6.00–$6.20 and outlined a multi-decade capital program, including 28 substations by 2035 and tens of billions in investments to bolster reliability and the energy transition. Management frames these investments as delivering stable, long-term shareholder value while supporting New York's clean-energy goals.

Q2 2026 adj EPS of $0.83; six-month adj EPS $3.00.
Guidance reaffirmed: 2026 adj EPS $6.00–$6.20.
28 substations in service by 2035; tens of billions in capex.
MVP/Honeoye adjustments excluded from non-GAAP earnings.

Sentiment rationale

Beat-and-guidance reinforcement plus a multi-year capex program and rate-base expansion typically support near-term upside for regulated utilities; MVP/Honeoye adjustments add some noise but are non-GAAP and less likely to derail the positive thesis.

Key facts

01
Q2 2026 net income $308M; EPS $0.83, up from 2025's $246M/$0.68.
02
Adjusted EPS also $0.83; six-month adj EPS $3.00, up from $2.91.
03
Reaffirms 2026 adj EPS guidance of $6.00–$6.20; capex plans outlined.
04
Targets 28 new substations in service by 2035 with tens of billions in capex.
05
MVP/Honeoye strategic review costs excluded from adjusted earnings.

Earnings

Earnings-focused release with non-GAAP framing; highlights a large capex-driven growth trajectory and regulated rate-base expansion, fitting ED's utility-macro growth narrative.