Welcome to our dedicated page for Consolidated Edison news (Ticker: ED), a resource for investors and traders seeking the latest updates and insights on Consolidated Edison stock.
Consolidated Edison, Inc. (Con Edison) (NYSE: ED) generates a steady flow of news as one of the nation’s largest investor-owned energy-delivery companies. Through its subsidiaries Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), and Con Edison Transmission, Inc., the company provides electric, gas and steam service in and around New York City and parts of New Jersey, and invests in electric and gas transmission assets.
News about ED commonly centers on quarterly earnings releases, where Con Edison reports net income and adjusted earnings, explains major drivers of performance at CECONY, O&R and Con Edison Transmission, and reconciles GAAP results to non‑GAAP measures. These updates often discuss rate base changes, regulatory developments, capital spending and the impact of items such as the sale of the former Clean Energy Businesses and the company’s equity interest in Mountain Valley Pipeline, LLC.
Investors also see frequent announcements on common stock dividends, including declared per‑share amounts and payment schedules, as well as notices about upcoming earnings release dates and investor presentations. Company leadership uses these events to outline strategy, highlight investments in grid reliability and resilience, and describe how the utilities support New York State’s clean energy goals while serving growing electrification in buildings and transportation.
Regulatory and financing developments appear in Con Edison’s news flow as well, including information later detailed in Form 8‑K filings, such as new debenture issuances, bank credit agreements and multi‑year rate proposals for CECONY’s electric and gas businesses. This news page allows readers to follow ED’s financial performance, regulatory milestones, capital plans and governance updates in one place.
On March 1, 2023, Consolidated Edison, Inc. (NYSE:ED) announced the successful sale of its wholly-owned subsidiary, Con Edison Clean Energy Businesses, Inc., to RWE Renewables Americas, LLC. The transaction is valued at $6.8 billion. This strategic move allows Con Edison to focus on its core operations in New York while supporting the transition to clean energy through substantial investments in electrification, energy efficiency, and electric vehicle infrastructure. The company aims to secure state approval for utility-owned renewable generation projects to aid New York's clean energy objectives.
Con Edison (NYSE: ED) announced that its executives will engage with investors during three upcoming conferences. The presentation materials will be accessible online. Key attendees include Matthew Ketschke, Steven Parisi, Joseph Miller, Yukari Saegusa, Timothy P. Cawley, and Robert Hoglund, participating in events from February 27 to March 1, 2023, in New York City and Boston. Consolidated Edison is a major energy-delivery company with approximately $16 billion in annual revenues and $69 billion in assets, offering a variety of energy-related services through its subsidiaries, including electric, gas, and steam services in New York.
Consolidated Edison (NYSE: ED) reported a strong financial performance in 2022, achieving a net income of $1,660 million, or $4.68 per share, a notable increase from $1,346 million, or $3.86 per share in 2021. Adjusted earnings also rose to $1,620 million, or $4.57 per share. However, Q4 2022 showed a decline, with net income dropping to $190 million, or $0.53 per share compared to $224 million, or $0.63 per share in Q4 2021. Looking ahead, the company projects 2023 adjusted earnings per share between $4.75 and $4.95 and anticipates significant capital investments totaling $4,809 million. The planned sale of its Clean Energy Businesses is a key factor in future financial strategies.
Con Edison executives, Vicki Kuo and Lisa Primeggia, will participate in a panel on Electric Vehicles and the Grid hosted by RBC Capital Markets. The virtual event is scheduled for February 9, 2023, at 9 a.m. EST. Con Edison, a major energy provider, serves 3.5 million customers in New York City and Westchester County, generating approximately $14 billion in annual revenues. The company emphasizes its commitment to energy solutions and efficiency. Interested participants can register for the event through a provided link.
Consolidated Edison, Inc. (NYSE: ED) is set to report its 2022 earnings on February 16, 2023, after market closure. This company, one of the largest investor-owned energy delivery firms in the U.S., boasts approximately $14 billion in annual revenues and $66 billion in assets. Through its subsidiaries, including Con Edison Company of New York, it provides a range of energy services across New York City, Westchester County, and parts of New Jersey. The press release outlines the company’s focus on transitioning to clean, renewable energy, particularly through its investment in electric transmission projects.
On January 19, 2023, Consolidated Edison, Inc. (NYSE: ED) announced a quarterly dividend of 81 cents per share, marking an annualized increase of 8 cents from the previous $3.16. This represents the 49th consecutive annual dividend increase, the longest streak among S&P 500 utilities. The dividend is payable on March 15, 2023 to shareholders of record by February 15, 2023. Con Edison aims for a dividend payout ratio of 60% to 70% of adjusted earnings, highlighting its commitment to delivering shareholder returns amid the clean energy transition.
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Consolidated Edison (ED) reported net income of $613 million or $1.73 per share for Q3 2022, up from $538 million or $1.52 per share in Q3 2021. Adjusted earnings also rose to $579 million or $1.63 per share, compared to $499 million or $1.41 the previous year. Year-to-date, net income is $1,470 million, a 31% increase year-over-year. The company plans to sell its Clean Energy Businesses for $6,800 million, with intentions to repay $1,050 million of debt and potentially initiate a share repurchase program. Adjusted EPS guidance for 2022 has been slightly increased to $4.50-$4.60.
The Variety Boys & Girls Club of Queens hosted a mentoring session focused on green careers, featuring representatives from the New York Power Authority, Con Edison, and 174 Power Global. This initiative, part of an annual collaboration, aims to educate youth about electrified transportation and STEM opportunities. 174 Power Global donated $15,000 to support STEM programs. Notably, the East River Energy Storage Project, a significant 100MW initiative, will be developed by 174 Power Global. This project is expected to enhance local job opportunities in the green economy.