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About Consolidated Edison
Industries
Energy
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
New York City, New York
Founded
1823
Overview
Consolidated Edison supplies electricity to more than 10 million people and businesses in New York City and Westchester. Its work centers on reliable delivery of power and expanding access to energy services. The company also pursues a net-zero future by 2050, aggressively reducing fossil fuel use and investing in clean energy, infrastructure, and new technologies. It runs energy-efficiency programs that have cut carbon emissions by 11 million metric tons since 2009, and is undertaking long-term projects to strengthen resilience against extreme weather. Its approach differs from many competitors through a strong commitment to affordability, equity, and environmental justice, collaboration with customers, regulators, engineers, and policymakers, and a continuous focus on practical infrastructure and technology investments to support a cleaner energy system.
Simplify's Take
What believers are saying
- Adjusted earnings rose 6.5% to $5.40 per share in 2024 from $5.07 in 2023.
- 7-million share offering funds subsidiary growth investments through 2025.
- Sustainability report details clean energy infrastructure progress supporting decarbonization.
What critics are saying
- Net income fell 28% to $1,820M in 2024 after Clean Energy Businesses divestiture.
- Q4 2024 adjusted EPS dropped 2% to $0.98 amid rate case pressures.
- New York net-zero mandate by 2050 demands capex outpacing regulatory rate approvals.
What makes Consolidated Edison unique
- Con Edison partners with First Student on Brooklyn solar microgrid for bus electrification.
- Con Edison collaborates with Logical Buildings on real-time emissions monitoring for NYC buildings.
- Con Edison deploys ULC Technologies' robotic MV cable splicing for infrastructure efficiency.
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Funding
Total Funding
$2.9M
Above
Industry Average
Funded Over
3 Rounds
Benefits
Flexible Work Hours
Paid Sick Leave
Remote Work Options
Stock Price
Company News
Consolidated Edison (CECONY) secured a $500 million loan to repay existing debt due November 2025. The 364-Day Senior Unsecured Term Loan Credit Agreement includes covenants that could affect financial stability. The latest analyst rating for ED stock is a Sell with a $98 price target. Despite a neutral technical trend, the stock is considered reasonably priced with an attractive dividend yield. Current market cap is $36.15 billion.
NEW YORK, Feb. 20, 2025 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2024 net income for common stock of $1,820 million or $5.26 a share compared with $2,519 million or $7.25 a share in 2023. Adjusted earnings (non-GAAP) were $1,868 million or $5.40 a share in 2024 compared with $1,762 million or $5.07 a share in 2023. Adjusted earnings and adjusted earnings per share in 2024 exclude adjustments to the gain and other impacts related to the sale of all of the stock of Con Edison's former subsidiary, Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses) in 2023 and the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments
Con Edison announces strategic 7-million share offering with JP Morgan, securing future capital for subsidiary investments through flexible settlement options by 2025.
Con Edison launches public offering of 7 million shares.
School transportation firm First Student is working with New York utility Con Edison on developing a solar microgrid to support fleet electrification for buses in Brooklyn.
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About Consolidated Edison
Industries
Energy
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
New York City, New York
Founded
1823
Consolidated Edison is Hiring for 81 Jobs on Simplify!
Find jobs on Simplify and start your career today