Quarterly ResultMay 7, 2026, 04:38 PM
Con Edison Q1 Net Income $924M, up 16.8%; Pipeline Sale Adds $189M Gain
AI Summary
Con Edison reported a strong first quarter for 2026, with net income increasing by 16.8% to $924 million, or $2.55 per diluted share. This growth was significantly boosted by a $189 million gain from the sale of its interest in Mountain Valley Pipeline, LLC. Total operating revenues also saw a healthy increase of 6.2% to $5.095 billion, driven by higher electric, gas, and steam revenues. The company noted ongoing regulatory matters, including a steam rate case and an investigation into gas and steam main welds.
Key Highlights
- Con Edison Q1 2026 net income rose 16.8% to $924 million.
- Basic net income per common share increased 12.8% to $2.55.
- Total operating revenues grew 6.2% to $5,095 million.
- Company recognized a $189 million gain from the Mountain Valley Pipeline sale.
- Electric revenues increased to $3,039 million, gas to $1,623 million.
- Net cash flows from operating activities decreased to $174 million.
- Common stock dividends paid were $308 million.