ED · 10-Q · 2026Q2 · Full report

Operating Income and Margins

CONSOLIDATED EDISON INC · 2026-08-06 · Importance 29 · Surprise 22

Consolidated operating income increased $250 million, or 16.9%, to $1,730 million for the six months ended June 30, 2026, from $1,480 million in 2025. CECONY operating income rose $232 million to $1,646 million, with electric operating income increasing $158 million to $760 million and gas operating income increasing $67 million to $793 million. CECONY’s operating margin increased to approximately 19.5% from 18.2%, while O&R’s operating income increased $17 million to $92 million on $704 million of revenue. The principal offsets to revenue growth were $169 million of higher CECONY non-income taxes and $115 million of lower other income, including a $120 million reduction in pension-related credits.

Key facts

• CECONY’s electric operating income for the three months ended June 30, 2026 was $425 million compared with $312 million for the 2025 period, an increase of $113 million.
• CECONY’s gas operating income for the three months ended June 30, 2026 was $172 million compared with $86 million for the 2025 period, an increase of $86 million.
• Con Edison consolidated operating income for the six months ended June 30, 2026 was $1,730 million versus $1,480 million in 2025.
• CECONY electric operating income for the six months ended June 30, 2026 was $760 million versus $602 million in 2025, an increase of $158 million.
• CECONY’s steam operating income for the three months ended June 30, 2026 was negative $58 million compared with negative $51 million for the 2025 period, a decrease of $7 million.
• Gas operating income for O&R for the three months ended June 30, 2026 was $(4) million versus $(3) million in the 2025 period, a variation of $(1) million.
• CECONY gas operating income for the six months ended June 30, 2026 was $793 million versus $726 million in 2025, an increase of $67 million.