Con Edison Misses Profit Estimates Amid Rising Costs

Consolidated Edison (Con Edison) announced its fourth-quarter earnings, which fell short of Wall Street's projections. The utility company experienced a rise in both operating and interest expenses during the three months ending December 31. These increased costs were attributed, in part, to variable weather conditions impacting operations and maintenance, as well as higher interest rates affecting borrowing expenses.

Despite missing profit estimates for the quarter, Con Edison provided a positive outlook for the future. The company projects full-year adjusted earnings per share to be in the range of $6 to $6.20. Furthermore, Con Edison anticipates achieving a compounded annual growth rate of 6% to 7% for its adjusted profit per share over the next five years. Significant capital investments are also planned, with approximately $6.56 billion expected in 2026 and $6.76 billion in 2027.