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 July 16, 2020, Consolidated Edison, Inc. (NYSE: ED) announced a quarterly dividend of 76.5 cents per share on its common stock. This dividend is payable on September 15, 2020, to stockholders of record as of August 19, 2020. Con Edison is one of the largest investor-owned energy companies in the U.S., with approximately $13 billion in annual revenues and $59 billion in assets. They provide various energy services through subsidiaries, including Con Edison Company of New York and Orange and Rockland Utilities.
Con Edison has invested $1.3 billion in electric-delivery systems to maintain reliability this summer while incorporating clean energy technologies. Due to increased demand from residents staying home during the pandemic, summer bills for NYC customers are projected to rise by 9.5%, compared to 2019. In Westchester, some customers might see a 3% decrease. The company is implementing cost deferrals and offering payment plans to assist struggling customers. Noteworthy upgrades include new cables, transformers, and battery systems to enhance reliability against peak demand.
Con Edison Chairman and CEO John McAvoy announced the company's commitment to clean energy during its virtual annual meeting, aiming to triple energy efficiency programs with a $1.5 billion investment by 2025.
The company plans to reduce reliance on natural gas and support electric vehicle adoption. McAvoy highlighted Con Edison as North America's second-largest solar producer and emphasized the workforce’s dedication amid the pandemic. The company also contributes to community relief efforts, ensuring no service interruptions for customers during economic challenges.
Consolidated Edison will hold its virtual Annual Meeting on May 18, 2020, at 10:00 a.m. EDT. This decision follows health guidelines amid the COVID-19 pandemic, ensuring safety for attendees. Only stockholders on record as of March 23, 2020, can participate. Registered stockholders can access the meeting using their control number and password 'ED2020', while beneficial stockholders must register in advance. Con Edison, a major energy provider with $13 billion in annual revenues, continues to adapt to current circumstances while providing energy services.
Consolidated Edison (NYSE: ED) reported a net income of $375 million, or $1.13 per share, for Q1 2020, down from $424 million or $1.31 per share in Q1 2019. Adjusted earnings rose slightly to $451 million, or $1.35 per share, compared to $448 million, or $1.39 per share, in the previous year. The revised full-year guidance for adjusted EPS is now $4.15 to $4.35, reduced from $4.30 to $4.50, largely due to warmer winter weather and the COVID-19 pandemic's effects. The company is committed to maintaining service reliability during these challenging times.