Live nieuws • Jun 12
Consolidated Edison Q1 Revenue Beats Forecast as Equity Offering Fuels Grid Investment Plans Consolidated Edison reported Q1 2026 revenue of US$5.1b, up 6.2% year over year and ahead of analyst expectations, with operating income gains at both CECONY and O&R.
Adjusted Q1 earnings per share were US$2.17, which missed the consensus estimate of US$2.32, while GAAP net income was US$924 million, or US$2.55 per share, supported by a US$357.5 million gain from the sale of the company’s 6.6% stake in Mountain Valley Pipeline, LLC.
Management reaffirmed full-year 2026 adjusted EPS guidance of US$6.00 to US$6.20 and filed for a US$2b at-the-market equity program to support investments in electrification, infrastructure resilience and system reliability. Analysts maintained a cautious Hold view, and the stock trailed the broader market and peers year to date.
The combination of revenue outperformance and an EPS miss points to pressure below the operating line, even as management maintains its earnings guidance and builds capital for grid-focused projects.
For investors, the key trade-offs are potential dilution from the US$2b equity program versus the company’s focus on reliability and electrification, along with the risk that mixed estimate trends and recent underperformance keep sentiment restrained in the near term. Live nieuws • May 18
Consolidated Edison Exceeds Revenue Forecasts but Adjusted EPS Falls Short While Guidance Held Consolidated Edison reported Q1 2026 revenue of US$5.1b, a 6.2% year-over-year increase that was above analyst expectations.
Adjusted EPS was US$2.17, below the consensus estimate of US$2.32, while GAAP net income reached US$924 million, supported by a US$357.5 million gain from the sale of its 6.6% stake in Mountain Valley Pipeline, LLC.
The company reaffirmed its full-year 2026 adjusted EPS guidance of US$6.00 to US$6.20 and filed for a US$2b at-the-market common stock offering to support infrastructure and electrification investments, with the stock slightly outperforming the Utilities sector since the release and analysts maintaining a “Hold” stance while trimming price targets.
The combination of reaffirmed EPS guidance and an at-the-market equity program shows that management is using external capital to fund grid and electrification projects while signaling confidence in the existing earnings outlook.
Key watchpoints include how the new equity issuance affects per-share metrics over time and whether ongoing investments result in earnings that support the current valuation and dividend profile. Reported Earnings • May 11
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$2.55 (up from US$2.26 in 1Q 2025). Revenue: US$5.10b (up 6.2% from 1Q 2025). Net income: US$924.0m (up 17% from 1Q 2025). Profit margin: 18% (up from 17% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Aankondiging • May 10
Consolidated Edison, Inc. has filed a Follow-on Equity Offering in the amount of $2 billion. Consolidated Edison, Inc. has filed a Follow-on Equity Offering in the amount of $2 billion.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Upcoming Dividend • May 06
Upcoming dividend of US$0.89 per share Eligible shareholders must have bought the stock before 13 May 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 60% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (3.2%). Declared Dividend • Apr 20
Fourth quarter dividend of US$0.89 announced Shareholders will receive a dividend of US$0.89. Ex-date: 13th May 2026 Payment date: 15th June 2026 Dividend yield will be 3.2%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (dividend approximately 36x free cash flows). The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 17
Consolidated Edison, Inc. Declares Common Stock Dividend, Payable on June 15, 2026 Consolidated Edison, Inc. declared a quarterly dividend of 88.75 cents a share on its common stock, payable June 15, 2026 to stockholders of record as of May 13, 2026. New Risk • Mar 10
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$1.1m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 35x cash flows per share). Significant insider selling over the past 3 months (US$1.1m sold). Recent Insider Transactions Derivative • Feb 23
Chairman exercised options and sold US$3.8m worth of stock On the 18th of February, Timothy Cawley exercised options to acquire 34k shares at no cost and sold these for an average price of US$114 per share. This trade did not impact their existing holding. For the year to December 2019, Timothy's total compensation was 9% salary and 91% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Timothy's direct individual holding has increased from 6.84k shares to 126.61k. Company insiders have collectively sold US$8.5m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 20
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: US$5.66 (up from US$5.26 in FY 2024). Revenue: US$16.9b (up 11% from FY 2024). Net income: US$2.02b (up 11% from FY 2024). Profit margin: 12% (in line with FY 2024). Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 13
Upcoming dividend of US$0.89 per share Eligible shareholders must have bought the stock before 18 February 2026. Payment date: 16 March 2026. Payout ratio is a comfortable 59% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (3.2%). Declared Dividend • Jan 30
Third quarter dividend increased to US$0.89 Dividend of US$0.89 is 4.4% higher than last year. Ex-date: 18th February 2026 Payment date: 16th March 2026 Dividend yield will be 3.2%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jan 28
Consolidated Edison, Inc. Declares Quarterly Common Stock Dividend, Payable on March 16, 2026 Consolidated Edison, Inc. declared a quarterly dividend of 88.75 cents a share on its common stock, payable March 16, 2026 to stockholders of record as of February 18, 2026, an annualized increase of 15 cents over the previous annualized dividend of $3.40 a share. Aankondiging • Jan 16
Consolidated Edison, Inc. to Report Fiscal Year 2025 Results on Feb 19, 2026 Consolidated Edison, Inc. announced that they will report fiscal year 2025 results After-Market on Feb 19, 2026 Recent Insider Transactions Derivative • Jan 07
Chairman exercised options and sold US$1.1m worth of stock On the 31st of December, Timothy Cawley exercised options to acquire 11k shares at no cost and sold these for an average price of US$99.89 per share. This trade did not impact their existing holding. For the year to December 2019, Timothy's total compensation was 9% salary and 91% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Timothy's direct individual holding has increased from 6.84k shares to 126.61k. Company insiders have collectively sold US$10m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Nov 12
Upcoming dividend of US$0.85 per share Eligible shareholders must have bought the stock before 19 November 2025. Payment date: 15 December 2025. Payout ratio is a comfortable 59% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (3.2%). Reported Earnings • Nov 07
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$1.91 (up from US$1.70 in 3Q 2024). Revenue: US$4.53b (up 11% from 3Q 2024). Net income: US$688.0m (up 17% from 3Q 2024). Profit margin: 15% (in line with 3Q 2024). Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.8%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Aankondiging • Oct 22
Consolidated Edison, Inc. to Report Q3, 2025 Results on Nov 06, 2025 Consolidated Edison, Inc. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Aankondiging • Oct 17
Consolidated Edison, Inc. Declares Common Stock Dividend, Payable on December 15, 2025 Consolidated Edison, Inc. declared a quarterly dividend of 85 cents a share on its common stock, payable December 15, 2025 to stockholders of record as of November 19, 2025. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.68 (up from US$0.58 in 2Q 2024). Revenue: US$3.60b (up 12% from 2Q 2024). Net income: US$246.0m (up 22% from 2Q 2024). Profit margin: 6.8% (up from 6.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 1.2%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Aankondiging • Aug 07
Consolidated Edison, Inc. Elects Brendan Cavanagh to Board of Director, Safety, Environment, Operations and Sustainability Committees and the Audit Committees, Effective October 1, 2025 Consolidated Edison, Inc. announced that its Board of Directors elected Brendan Cavanagh to Con Edison's Board of Directors, effective October 1, 2025. Mr. Cavanagh was appointed to the Safety, Environment, Operations and Sustainability Committees and the Audit Committees of the Boards, effective October 1, 2025. Mr. Cavanagh is currently the President and Chief Executive Officer of SBA Communications Corporation . Mr. Cavanagh is an experienced executive with broad financial expertise. He has been in his current role since January 2024, and has overseen a significant expansion of SBA's assets. Prior to becoming CEO, Mr. Cavanagh served as Chief Financial Officer of SBA for 15 years. During his 27-year career at SBA, he also served in other senior leadership roles, including Vice President and Chief Accounting Officer and Vice President of Site Administration. Prior to joining SBA, he worked for Arthur Andersen in the audit and assurance practice. Mr. Cavanagh holds a bachelor's degree in accounting from Wake Forest University, and a master's in business administration from Florida Atlantic University. Upcoming Dividend • Aug 06
Upcoming dividend of US$0.85 per share Eligible shareholders must have bought the stock before 13 August 2025. Payment date: 15 September 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.6%). In line with average of industry peers (3.3%). Declared Dividend • Jul 21
First quarter dividend of US$0.85 announced Shareholders will receive a dividend of US$0.85. Ex-date: 13th August 2025 Payment date: 15th September 2025 Dividend yield will be 3.3%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (61% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jul 18
Con Edison Declares Common Stock Dividend, Payable on September 15, 2025 Consolidated Edison, Inc. declared a quarterly dividend of 85 cents a share on its common stock, payable September 15, 2025 to stockholders of record as of August 13, 2025. Aankondiging • Jul 11
Consolidated Edison, Inc. to Report Q2, 2025 Results on Aug 07, 2025 Consolidated Edison, Inc. announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Upcoming Dividend • May 07
Upcoming dividend of US$0.85 per share Eligible shareholders must have bought the stock before 14 May 2025. Payment date: 16 June 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.9%). In line with average of industry peers (3.4%). Reported Earnings • May 02
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$2.26 (up from US$2.08 in 1Q 2024). Revenue: US$4.80b (up 12% from 1Q 2024). Net income: US$791.0m (up 9.9% from 1Q 2024). Profit margin: 17% (in line with 1Q 2024). Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Declared Dividend • Apr 21
Fourth quarter dividend of US$0.85 announced Shareholders will receive a dividend of US$0.85. Ex-date: 14th May 2025 Payment date: 16th June 2025 Dividend yield will be 3.0%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 18
Consolidated Edison, Inc. Declares Quarterly Dividend, Payable on June 16, 2025 Consolidated Edison, Inc. (Con Edison) declared a quarterly dividend of 85 cents a share on its common stock, payable June 16, 2025 to stockholders of record as of May 14, 2025. Aankondiging • Apr 12
Consolidated Edison, Inc., Annual General Meeting, May 19, 2025 Consolidated Edison, Inc., Annual General Meeting, May 19, 2025. Aankondiging • Apr 10
Consolidated Edison, Inc. to Report Q1, 2025 Results on May 01, 2025 Consolidated Edison, Inc. announced that they will report Q1, 2025 results After-Market on May 01, 2025 Aankondiging • Mar 06
Consolidated Edison, Inc. has completed a Follow-on Equity Offering in the amount of $631.3293 million. Consolidated Edison, Inc. has completed a Follow-on Equity Offering in the amount of $631.3293 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 6,300,000
Price\Range: $100.211 Aankondiging • Mar 05
Consolidated Edison, Inc. has filed a Follow-on Equity Offering. Consolidated Edison, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 6,300,000 Recent Insider Transactions Derivative • Feb 24
Chairman exercised options and sold US$5.7m worth of stock On the 19th of February, Timothy Cawley exercised options to acquire 60k shares at no cost and sold these for an average price of US$95.76 per share. This trade did not impact their existing holding. For the year to December 2018, Timothy's total compensation was 8% salary and 92% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Timothy's direct individual holding has increased from 86.42k shares to 111.57k. Company insiders have collectively sold US$8.8m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$5.26 (down from US$7.25 in FY 2023). Revenue: US$15.3b (up 4.0% from FY 2023). Net income: US$1.82b (down 28% from FY 2023). Profit margin: 12% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Feb 12
Upcoming dividend of US$0.85 per share Eligible shareholders must have bought the stock before 19 February 2025. Payment date: 14 March 2025. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (3.5%). Declared Dividend • Jan 20
Third quarter dividend increased to US$0.85 Dividend of US$0.85 is 2.4% higher than last year. Ex-date: 19th February 2025 Payment date: 14th March 2025 Dividend yield will be 3.6%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Dec 05
Consolidated Edison, Inc. has completed a Follow-on Equity Offering in the amount of $676.62 million. Consolidated Edison, Inc. has completed a Follow-on Equity Offering in the amount of $676.62 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 7,000,000
Price\Range: $96.66 Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: US$1.70 (up from US$1.53 in 3Q 2023). Revenue: US$4.09b (up 5.7% from 3Q 2023). Net income: US$588.0m (up 12% from 3Q 2023). Profit margin: 14% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 06
Upcoming dividend of US$0.83 per share Eligible shareholders must have bought the stock before 13 November 2024. Payment date: 16 December 2024. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (3.5%). Aankondiging • Oct 24
Consolidated Edison, Inc. to Report Q3, 2024 Results on Nov 07, 2024 Consolidated Edison, Inc. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Declared Dividend • Oct 21
Second quarter dividend of US$0.83 announced Shareholders will receive a dividend of US$0.83. Ex-date: 13th November 2024 Payment date: 16th December 2024 Dividend yield will be 3.1%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Oct 18
Consolidated Edison, Inc. Declares Quarterly Common Stock Dividend, Payable on December 16, 2024 Consolidated Edison, Inc. declared a quarterly dividend of 83 cents a share on its common stock, payable December 16, 2024 to stockholders of record as of November 13, 2024. Upcoming Dividend • Aug 07
Upcoming dividend of US$0.83 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 16 September 2024. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (3.7%). Reported Earnings • Aug 02
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.58 (down from US$0.65 in 2Q 2023). Revenue: US$3.22b (up 9.4% from 2Q 2023). Net income: US$202.0m (down 11% from 2Q 2023). Profit margin: 6.3% (down from 7.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 22
First quarter dividend of US$0.83 announced Shareholders will receive a dividend of US$0.83. Ex-date: 14th August 2024 Payment date: 16th September 2024 Dividend yield will be 3.5%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jul 19
Consolidated Edison, Inc. Declares Quarterly Dividend, Payable on September 16, 2024 Consolidated Edison, Inc. (Con Edison) declared a quarterly dividend of 83 cents a share on its common stock, payable September 16, 2024 to stockholders of record as of August 14, 2024. Aankondiging • Jul 12
Consolidated Edison, Inc. to Report Q2, 2024 Results on Aug 01, 2024 Consolidated Edison, Inc. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Upcoming Dividend • May 10
Upcoming dividend of US$0.83 per share Eligible shareholders must have bought the stock before 14 May 2024. Payment date: 14 June 2024. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.6%). In line with average of industry peers (3.7%). Reported Earnings • May 03
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$2.08 (down from US$4.06 in 1Q 2023). Revenue: US$4.28b (down 2.8% from 1Q 2023). Net income: US$720.0m (down 50% from 1Q 2023). Profit margin: 17% (down from 33% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Integrated Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 22
Fourth quarter dividend of US$0.83 announced Shareholders will receive a dividend of US$0.83. Ex-date: 14th May 2024 Payment date: 14th June 2024 Dividend yield will be 3.6%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 5.1% over the next 3 years. However, it would need to fall by 50% to increase the payout ratio to a potentially unsustainable range. Aankondiging • Apr 19
Consolidated Edison, Inc. Declares Quarterly Dividend, Payable June 14, 2024 Consolidated Edison, Inc. declared a quarterly dividend of 83 cents a share on its common stock, payable June 14, 2024 to stockholders of record as of May 15,2024. Aankondiging • Apr 12
Consolidated Edison, Inc. to Report Q1, 2024 Results on May 02, 2024 Consolidated Edison, Inc. announced that they will report Q1, 2024 results After-Market on May 02, 2024 Aankondiging • Apr 11
Consolidated Edison, Inc., Annual General Meeting, May 20, 2024 Consolidated Edison, Inc., Annual General Meeting, May 20, 2024, at 10:00 US Eastern Standard Time. Agenda: To elect as the members of the Board of Directors the twelve nominees named in the Proxy Statement; to ratify the appointment of PricewaterhouseCoopers LLP as independent accountants for 2024; to approve, on an advisory basis, named executive officer compensation; to approve the Company’s Stock Purchase Plan; and to transact such other business as may properly come before the meeting, or any adjournment or postponement of the meeting. Recent Insider Transactions Derivative • Feb 16
Chairman exercised options and sold US$5.7m worth of stock On the 14th of February, Timothy Cawley exercised options to acquire 66k shares at no cost and sold these for an average price of US$86.67 per share. This trade did not impact their existing holding. For the year to December 2017, Timothy's total compensation was 14% salary and 86% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2023, Timothy's direct individual holding has increased from 19.48k shares to 20.25k. Company insiders have collectively sold US$15m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Feb 06
Upcoming dividend of US$0.83 per share at 3.6% yield Eligible shareholders must have bought the stock before 13 February 2024. Payment date: 15 March 2024. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (4.1%). Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 6 highly experienced directors. Independent Director Karol Mason was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jan 19
Consolidated Edison, Inc. Declares Quarterly Dividend, Payable on March 15, 2024 Consolidated Edison, Inc. (Con Edison) declared a quarterly dividend of 83 cents a share on its common stock, payable March 15, 2024 to stockholders of record as of February 14, 2024, an annualized increase of 8 cents over the previous annualized dividend of $3.24 a share.