Consolidated Edison, Inc. reported 2024 full-year net income for common stock of $1,820 million, or $5.26 per share, compared with $2,519 million, or $7.25 per share, in 2023. Adjusted earnings for 2024 were $1,868 million, or $5.40 per share, an increase from $1,762 million, or $5.07 per share, in 2023. For the fourth quarter of 2024, net income was $310 million, or $0.90 per share, with adjusted earnings of $340 million, or $0.98 per share.
The company provided 2025 adjusted earnings per share guidance in the range of $5.50 to $5.70 per share. Con Edison also forecasts a five-year compounded annual adjusted earnings per share growth rate of 6% to 7% based on its 2025 guidance. Chairman and CEO Tim Cawley emphasized strong execution within utility rate plans and ongoing investment to ensure reliability and support the clean energy transition.
Con Edison outlined substantial capital investment plans, expecting to make $5,122 million in 2025 and $8,067 million in 2026, with an aggregate of $24,469 million from 2027 through 2029. To fund these requirements, the company plans to issue up to $1,750 million of long-term debt in 2025 and up to $1,350 million of common equity in 2025, including the physical settlement of an estimated $677 million from its December 2024 equity forward transaction.
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