Filing Flows › Consolidated Edison (ED) › Q4 2025
Consolidated Edison (ED) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Consolidated Edison (ED) reported revenue of $4.0B for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -12% from the quarter before. Operating margin was 12.2%, net earnings $297M (7.4% of revenue).
Consolidated Edison, Q4 2025: revenue $4.0B (+9% year over year), operating margin 12.2%, net earnings $297M, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.0B | -12% | +9% |
| Operating profit | $487M | -50% | +2% |
| Net earnings | $297M | -57% | -4% |
| Operating cash flow | $1.5B | +194% | +13% |
| Free cash flow | $176M | — | +141% |
What changed
Revenue was $4.0B in Q4 2025, up 9% year over year and down 12% from the previous quarter. Electric was the largest line at 72% of revenue.
Operating profit was $0.49B, a 12.2% margin (down 0.8 points year over year). Of the extra revenue versus Q4 2024, 3% reached operating profit, below the 13% margin then. Total costs grew 10% against revenue growth of 9%. Net earnings were $0.30B, down 4% year over year. The effective tax rate was 21.4%.
Operating cash flow was $1.5B (up 13% year over year), 498% of net earnings. Non-cash charges added back $0.59B of depreciation and amortization. Working capital and other items added $0.59B. Capital expenditures of $1.3B left free cash flow of $0.18B.
Questions
What was Consolidated Edison's revenue in the fourth quarter 2025?
Consolidated Edison (ED) reported revenue of $4.0B for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -12% from the quarter before.
Was Consolidated Edison profitable in the fourth quarter 2025?
Operating profit was $487M (12.2% of revenue) and net earnings $297M.