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Con Edison reports strong Q2 2026; confirms growth capex and rate-base expansion

Aug 6, 2026, 4:45 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

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.

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What happened, with direct paths to the underlying reporting

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

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