ED · 10-Q · 2026Q2 · Full report

Revenue Performance and Mix

CONSOLIDATED EDISON INC · 2026-08-06 · Importance 41 · Surprise 22 · No source text

CECONY’s second-quarter operating revenues increased $465 million, or 13.9%, to $3.805 billion from $3.340 billion in 2025. Electric revenue rose $353 million, or 13.7%, to $2.934 billion, driven primarily by $185 million of higher purchased-power expenses, $45 million of deferred-cost amortization, $44 million of higher unbilled revenue, and $34 million from the electric rate plan. Gas revenue increased $100 million, or 15.3%, to $753 million, mainly from $37 million of higher non-firm revenue, $31 million from the gas rate plan, and $17 million of deferred-cost amortization. Steam revenue grew $12 million, or 11.3%, to $118 million, while adjusted steam deliveries decreased 4.3%, indicating a rate-driven mix shift rather than volume growth.

Key facts

• For the three months ended June 30, 2026, CECONY operating revenues were $3,805 million and net income for common stock was $296 million.
• For the six months ended June 30, 2026, CECONY operating revenues were $8,459 million and net income for common stock was $1,029 million.
• CECONY’s electric revenues for the three months ended June 30, 2026 were $2,934 million, up $353 million from $2,581 million in the 2025 period.
• Con Edison consolidated operating revenues for the six months ended June 30, 2026 were $9,164 million versus $8,393 million in 2025.
• CECONY operating revenues for the six months ended June 30, 2026 were $8,459 million versus $7,782 million in 2025, an increase of $677 million.
• For the three months ended June 30, 2026, O&R operating revenues were $263 million and net income for common stock was $4 million.
• Operating revenues increased $353 million in the three months ended June 30, 2026 primarily due to higher purchased power expenses ($185 million), amortization of deferred costs ($45 million), higher unbilled revenue ($44 million), an increase in revenues from the electric rate plan ($34 million), and higher fuel expenses ($26 million).
• Operating revenues increased $9 million in the three months ended June 30, 2026 compared with the 2025 period primarily due to higher revenues from the company's New York electric rate plan ($6 million) and higher purchased power expenses ($2 million).

Impact estimates