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Consolidated Edison, Inc. ED reported first-quarter 2025 earnings of $2.25 per share, which missed the Zacks Consensus Estimate of $2.30 by 2.2%. However, the bottom line improved 8.2% from $2.08 recorded in the prior-year quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.)
The year-over-year increase can be attributed to higher revenue growth and operating income generated in the first quarter of 2025 compared to the prior-year quarter’s comparable 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 $4.80 billion surpassed the Zacks Consensus Estimate of $4.40 billion by 9%. The top line also increased 12.1% from $4.28 billion reported in the year-ago quarter. The upside was driven by higher gas, steam and electric revenues.
Electric revenues totaled $2.90 billion, which increased 10.1% from the year-ago quarter’s figure of $2.64 billion.
Gas revenues totaled $1.54 billion, which increased 13.8% from the year-ago quarter’s figure of $1.36 billion.
Steam revenues totaled $354 million, which increased 23.3% from the year-ago quarter’s figure of $287 million. Non-utility revenues were nil compared with $1 million generated in the year-earlier quarter.
ED’s Operating Statistics
Total operating expenses in the first quarter increased 13.4% year over year to $3.67 billion.
Purchase power costs rose 11.1%. Other operations and maintenance expenses increased 7.2%. Meanwhile, depreciation and amortization expenses jumped 4.6%. Taxes, other than income taxes, went up 17.2% year over year. Fuel expenses increased 44.3% year over year, and the cost of gas purchased for resale rose 35.6%.
The company’s first-quarter operating income went up 11.3% year over year to $1.13 billion.
ED’s Financials
Cash and temporary cash investments as of March 31, 2025 were $0.36 billion compared with $1.32 billion as of Dec. 31, 2024.
The company’s long-term debt was $24.65 billion as of March 31, 2025, which came in line with the long-term debt as of the 2024 end.
As of March 31, 2025, cash from operating activities amounted to $837 million compared with $573 million 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 $5.62 per share, which is higher than the midpoint of the company’s guided range.