Equity Profile

ED

Consolidated Edison, Inc.

UtilitiesMulti-Utilities$39.2B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Consolidated Edison, Inc. (ED) is a major utility company that provides electric, gas, and steam services to customers in New York City and surrounding areas....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well the company is managing its costs and generating income.

N/A

Revenue Growth

Revenue growth is essential for assessing the company's ability to expand its customer base and increase sales, particularly in a competitive market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ED Q2-2026 Earnings Preview

Context

Company Snapshot

Consolidated Edison, Inc. (ED) is a major utility company that provides electric, gas, and steam services to customers in New York City and surrounding areas. As a key player in the utilities sector, it plays a vital role in delivering essential services to millions, making it important for both consumers and investors, especially in the context of rising energy demands and regulatory changes.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+5.21%

Avg Stock Reaction

+0.41%

Last Quarter Recap

In Q1 2026, Consolidated Edison reported an EPS of $2.18, which was below the expected $2.32, resulting in a 6.2% negative surprise. The stock reacted slightly negatively, declining by 0.45% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for this quarter are mixed, with investors looking for signs of recovery after the recent EPS miss. Analysts will be keen to see if the company can regain momentum and meet or exceed expectations this time.

Bull Case

The optimistic view hinges on the potential for strong revenue growth driven by increased customer demand and effective cost management, which could lead to a positive earnings surprise.

Bear Case

On the other hand, if the company fails to show significant improvements in customer growth or revenue, it may face continued pressure on its stock price, especially given the recent EPS miss.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current customer growth rate and how does it compare to previous quarters?

Customer growth is crucial for future revenue and profitability, and any significant changes could impact investor sentiment.

Can Consolidated Edison provide guidance on expected revenue growth for the upcoming quarters?

Guidance on revenue growth will help investors gauge the company's outlook and ability to recover from recent earnings misses.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for customer growth due to recent infrastructure investments that could enhance service reliability and attract new clients.

Supporting Evidence

The options market is pricing in an 8.07% move, indicating expectations for volatility that may not align with the company's actual performance history.

The recent EPS miss could lead to overly cautious sentiment, despite historical trends showing a strong recovery potential.

Key Risk

If customer growth exceeds 3%, it could significantly shift market sentiment and challenge the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around the company's ability to attract and retain customers in a competitive utility market.

Bull Confirmed If

A customer growth rate exceeding 3% would confirm the bull case, indicating strong demand for services.

Bear Confirmed If

If customer growth is flat or negative, it would confirm the bear case, suggesting ongoing challenges for the company.

Pre-Earnings Positioning

Options Market

Implied Move

±8.07%

Historical Avg

±0.9%

Pricing rich

The options market is pricing in a significant move of about 8.07%, suggesting that traders expect notable volatility following the earnings report.

Options are pricing ±7.7% while ED has averaged ±0.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

17.7%

Calls (4K)P/C Ratio: 0.72Puts (3K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Consolidated Edison beats expectations and raises guidance, history suggests the stock could rise by around 0.65% on the first day.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see little movement or a slight decline.

Miss

If the company misses expectations again, history suggests a potential decline of about 0.31% on the first day.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and their effectiveness.
2Any commentary on regulatory changes that could impact operations.
3Insights into cost management efforts and their expected impact on margins.
4Discussion of infrastructure investments and their potential benefits.
5Management's outlook on energy demand trends in the coming quarters.

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Company Snapshot

Consolidated Edison, Inc. (ED) is a major utility company that provides electric, gas, and steam services to customers in New York City and surrounding areas....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability and will indicate how well the company is managing its costs and generating income.

N/A

Revenue Growth

Revenue growth is essential for assessing the company's ability to expand its customer base and increase sales, particularly in a competitive market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ED Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+5.21%

Avg Stock Reaction

+0.41%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

The optimistic view hinges on the potential for strong revenue growth driven by increased customer demand and effective cost management, which could lead to a positive earnings surprise.

Bear Case

On the other hand, if the company fails to show significant improvements in customer growth or revenue, it may face continued pressure on its stock price, especially given the recent EPS miss.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current customer growth rate and how does it compare to previous quarters?

Customer growth is crucial for future revenue and profitability, and any significant changes could impact investor sentiment.

Can Consolidated Edison provide guidance on expected revenue growth for the upcoming quarters?

Guidance on revenue growth will help investors gauge the company's outlook and ability to recover from recent earnings misses.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for customer growth due to recent infrastructure investments that could enhance service reliability and attract new clients.

Supporting Evidence

The options market is pricing in an 8.07% move, indicating expectations for volatility that may not align with the company's actual performance history.

The recent EPS miss could lead to overly cautious sentiment, despite historical trends showing a strong recovery potential.

Key Risk

If customer growth exceeds 3%, it could significantly shift market sentiment and challenge the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around the company's ability to attract and retain customers in a competitive utility market.

Bull Confirmed If

A customer growth rate exceeding 3% would confirm the bull case, indicating strong demand for services.

Bear Confirmed If

If customer growth is flat or negative, it would confirm the bear case, suggesting ongoing challenges for the company.

Pre-Earnings Positioning

Options Market

Implied Move

±8.07%

Historical Avg

±0.9%

Pricing rich

The options market is pricing in a significant move of about 8.07%, suggesting that traders expect notable volatility following the earnings report.

Options are pricing ±7.7% while ED has averaged ±0.9% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

17.7%

Calls (4K)P/C Ratio: 0.72Puts (3K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Consolidated Edison beats expectations and raises guidance, history suggests the stock could rise by around 0.65% on the first day.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may see little movement or a slight decline.

Miss

If the company misses expectations again, history suggests a potential decline of about 0.31% on the first day.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and their effectiveness.
2Any commentary on regulatory changes that could impact operations.
3Insights into cost management efforts and their expected impact on margins.
4Discussion of infrastructure investments and their potential benefits.
5Management's outlook on energy demand trends in the coming quarters.