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Con Edison lifts 2026 adjusted EPS guidance; climate resilience capex underway

Nov 5, 2026, 4:48 PM EST1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strong Q3 performance and raised guidance imply higher earnings power and potential multiple expansion; climate-capex and Steam plan progress support regulated earnings growth. However, complexity from MVP/Honeoye adjustments and regulatory approvals introduces near-term uncertainty.

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What happened, with direct paths to the underlying reporting

Con Edison reported 2026 Q3 earnings of $766 million ($2.07 per share) and solid year-to-date results, supporting an up-tilt in full-year guidance to $6.05–$6.15 in adjusted EPS. The company earmarks about $797 million for climate resilience from 2026–2030 and awaits regulator approval on a Steam investment plan, signaling earnings visibility from rate-base growth despite ongoing asset reviews related to MVP/Honeoye.

Q3 2026 net income $766M; EPS $2.07.
Nine months 2026 net income $1,998M; EPS $5.44.
Adjusted 9M 2026 earnings $1,864M; EPS $5.08.
Guidance: 2026 adj EPS $6.05-$6.15; prior $6.00-$6.20.
Climate resilience capex: about $797M (2026–2030).

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