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Earnings analysis · 10-Q

ED earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Consolidated Edison reported strong Q1 2026 results with revenue increasing to $5.1 billion, a 6.2% rise from Q1 2025. Net income rose to $924 million, with diluted EPS climbing to $2.54, an increase from $2.25. Major…

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Consolidated Edison reported strong Q1 2026 results with revenue increasing to $5.1 billion, a 6.2% rise from Q1 2025. Net income rose to $924 million, with diluted EPS climbing to $2.54, an increase from $2.25. Major drivers of performance included higher revenues from electric and gas delivery, alongside the successful sale of its Mountain Valley Pipeline stake.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

77% Gross margin Operating margin Aug 2025 May 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $39 Operating expenses $38 Left as operating profit $23

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish Aug 2025 May 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$2.54
Segment
Electric
Segment
Gas
Segment
Steam
Segment
Non-utility

What stood out

  • Strong Revenue Growth

    Total revenue reached $5.1 billion, up 6.2% from $4.8 billion in Q1 2025.

  • Improved EPS

    Diluted EPS rose to $2.54, compared to $2.25 in the prior-year quarter.

  • Significant Operating Income

    Operating income increased to $1.177 billion from $1.125 billion year-over-year.

  • Successful Asset Sale

    Gained $189 million from the sale of interest in Mountain Valley Pipeline.

  • Lower Interest Expense

    Net interest expense decreased to $308 million from $313 million.

  • Effective Cash Management

    Operating cash flow improved to $174 million from $837 million.

What to watch

  • Increased Aged Receivables

    Aged receivables exceeded $1.35 billion as of March 31, 2026, raising concerns about collection.

  • Higher Operational Expenses

    Other operations and maintenance expenses climbed to $940 million, reflecting increased costs.

  • Regulatory Risks

    Ongoing investigations related to weld quality compliance could result in regulatory penalties.

Management's outlook

Management states they expect to maintain revenue growth and improve operational efficiencies in upcoming quarters.

Earlier filings 2

10-Q · November 6, 2025

Consolidated Edison, Inc. reported strong financial performance for Q3 2025, with revenues of $4.53 billion, a 10.7% increase from $4.09 billion in Q3 2024. Adjusted diluted EPS rose to $1.90, beating consensus…

10-Q · August 7, 2025

Consolidated Edison, Inc. reported fiscal Q2 2025 results showcasing a 10.7% revenue increase to $3.6 billion compared to Q2 2024, alongside diluted EPS of $0.68, up from $0.58 in the prior year. Operating performance…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.