Pre-earnings brief
Reports
Thu, Nov 5, 2026
Est. EPS
—
Est. revenue
—
Implied move
±5.1%
EPS beat rate
75%
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 crucial role in delivering essential services, particularly amid ongoing discussions about energy sustainability and infrastructure improvements.
Last quarter
In Q2 2026, Consolidated Edison reported an EPS of $0.83, exceeding expectations by 12.47%. The stock reacted positively, gaining 0.58% the following day.
EPS beat streak
1Q
EPS beat rate
75%
Avg EPS surprise
+5.73%
Avg 1-day reaction
+0.14%
Overall, expectations for the upcoming earnings report are mixed due to the lack of analyst estimates and management guidance. Investors are keen to see if the company can maintain its recent performance.
Bull case
If Consolidated Edison beats EPS expectations again, it could signal strong operational efficiency and customer demand, potentially boosting investor confidence.
Bear case
Conversely, if the company misses expectations, it may raise concerns about rising costs or regulatory challenges, leading to a negative market reaction.
The print will turn on these.
Q1
What will the EPS be for Q3-2026?
The EPS figure will be a key indicator of profitability and could significantly influence investor sentiment.
Q2
How has customer growth changed in the last quarter?
Understanding customer growth trends will provide insight into demand for services and future revenue potential.
Est. EPS
$1.98
Est. Rev
$113.6B
Impl. Move
±4.0%
Why consensus could be wrong
The market may be underestimating Consolidated Edison's ability to manage costs effectively despite rising operational expenses.
Supporting evidence
The company has a history of beating EPS estimates, with a 75% success rate over the last eight quarters.
Options pricing suggests a higher expected move than historical averages, indicating potential for a significant reaction.
Recent customer growth trends may not be fully reflected in current market sentiment.
Key risk
If EPS comes in below $0.75, it could undermine confidence in the company's operational efficiency.
Pre-commit to what would confirm each case.
This quarter's performance will hinge on the company's ability to manage costs and grow its customer base amid economic pressures.
Bull confirmed if
An EPS of $0.90 or higher would confirm strong operational performance and growth.
Bear confirmed if
An EPS below $0.75 would raise concerns about profitability and operational challenges.
What the market is pricing for the move.
Implied Move
±4.75%
Historical Avg
±0.6%
The options market is pricing in a significant move of approximately 4.75%, suggesting that traders expect volatility around the earnings announcement.
Options are pricing ±5.1% while ED has averaged ±0.6% over the last 8 prints — setup is pricing rich.
ATM IV
0.2%
30d HV
14.6%
Smart-money positioning from the most recent 13F filings.
Institutional
78.77%
of float
Insider
0.20%
of float
Holders
1,872
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
41,665,829 sh · $4.4B
11.27%
5.6%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Consolidated Edison beats expectations, history suggests the stock could rise by around 0.29% on the first day, confirming strong operational health.
In line / cautious
If results are in line with expectations, the stock may experience muted movement as investors await further guidance.
Miss
Should the company miss expectations, the stock might decline by approximately 0.31%, reflecting investor disappointment.
The lines on the call that would change the story.
State Street Corporation
25,094,015 sh · $2.6B
6.79%
0.9%
Vanguard Capital Management LLC
24,085,197 sh · $2.5B
6.51%
2.5%
Vanguard Portfolio Management LLC
19,117,849 sh · $2.0B
5.17%
2.5%
Geode Capital Management, LLC
10,685,732 sh · $1.1B
2.89%
3.5%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.