Con Edison Q1 adjusted EPS falls to $2.18 from $2.26; GAAP EPS rises to $2.55
Con Edison reported first-quarter 2026 GAAP net income of $924 million, or $2.55 a share, up from $791 million, or $2.26 a share, a year earlier, helped by a gain on the sale of its MVP interest. Excluding such items, adjusted earnings were $790 million, or $2.18 a share, down from $792 million, or $2.26 a share, and the company reaffirmed its 2026 adjusted EPS guidance of $6.00 to $6.20 a share, so shareholders see a one-time gain lifting reported results while underlying earnings slipped slightly.
Key points
- GAAP net income for common stock was $924 million, or $2.55 a share, versus $791 million, or $2.26 a share, in the first quarter of 2025.
- Adjusted earnings were $790 million, or $2.18 a share, versus $792 million, or $2.26 a share, a year earlier.
- The gain on the sale of the MVP equity interest was $189 million pre-tax, or $0.37 a share after tax, and the sale was completed for total consideration of $357.5 million.
- The company reaffirmed its 2026 adjusted EPS guidance range of $6.00 to $6.20 a share.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.