ED · 8-K · 20260806PR000143

Segment Profitability

CONSOLIDATED EDISON INC · 2026-08-06 · Importance 32 · Surprise 24

CECONY contributed a $74 million increase in second-quarter 2026 net income, driven by $25 million from a higher electric rate base and billing-rate timing, $23 million from a higher gas rate base and billing-rate timing, and $9 million each from lower other interest expense and lower electric operations and maintenance expense. O&R made no net contribution to the quarterly year-over-year change because $5 million from electric and gas base-rate increases was offset by $3 million of higher long-term-debt interest expense and other items. For the first six months, CECONY increased net income by $62 million and O&R increased net income by $6 million. Con Edison Transmission reduced second-quarter earnings by $3 million from MVP basis accretion and strategic-review transaction costs, while its six-month contribution increased net income by $130 million primarily because of the $134 million after-tax gain on the MVP equity-interest sale.

Key facts

• Attachment B lists Total CECONY contribution to three-month variation as $74 million and $0.18 EPS for the three months ended June 30, 2026 vs. 2025. source
• Attachment C shows Total CECONY contribution to six-month variation as $62 million and $0.08 EPS. source
• Attachment B shows Total Other, including parent company expenses, decreased three-month net income by $9 million and (0.02) EPS. source
• Con Edison provides electric service in New York City and New York’s Westchester County; gas service in Manhattan, the Bronx, parts of Queens and parts of Westchester; and steam service in Manhattan through Consolidated Edison Company of New York, Inc. (CECONY). source
• Orange and Rockland Utilities, Inc. (O&R) is a regulated utility serving customers in a 1,300-square-mile area in southeastern New York State and northern New Jersey. source
• Con Edison Transmission, Inc. is a regulated company primarily under the oversight of the Federal Energy Regulatory Commission that develops and invests in electric transmission projects and owns interests in electric assets. source