New York-based Consolidated Edison, Inc. (ED) engages in the regulated electric, gas, and steam delivery businesses in the United States. With a market cap of $36.4 billion, the company operates the largest steam distribution system in the country, and provides electricity and gas in New York, New Jersey, and Pennsylvania. 

ED is set to deliver its second-quarter results on Thursday, August 7, after the market closes. Ahead of the event, analysts expect the utility giant to report an adjusted EPS of $0.62, up 5.1% from $0.59 reported in the year-ago quarter. It has exceeded analysts' earnings estimates in three of the past four quarters, while missing on one occasion.

For the current year, analysts expect ED to report an EPS of $5.63, up 4.3% from $5.40 in fiscal 2024. 

ED shares have soared 8.5% over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 14.5% returns and the Utility Select Sector SPDR Fund’s (XLU) 19.8% gains during the same time frame.

ED stock closed down marginally following the release of its Q1 earnings on May 1. The utility company reported revenue of $4.8 billion for the period, surpassing Street forecasts. Additionally, the company’s adjusted EPS for the quarter amounted to $2.25, which failed to touch the consensus estimates by 2.2%. Looking ahead, ED expects full-year earnings in the range of $5.50 to $5.70 per share.

The consensus view on ED stock remains skeptical, with a “Hold” rating overall. Of the 17 analysts covering the stock, opinions include four “Strong Buys,” eight “Holds,” and five “Strong Sells.” ED’s mean price target of $104.81 indicates a 2.7% upswing from the current market prices.