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Company Profile
Company Profile
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About Con Edison
Consolidated Edison, Inc. (Con Edison) is one of the nation’s largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues and $66 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries:
- Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric, gas and steam service to customers in New York City and Westchester County, New York
- Orange & Rockland Utilities, Inc. (O&R), a regulated utility providing electric and gas to customers in southeastern New York State and northern New Jersey
- Con Edison Transmission (Con Edison Transmission or CET), which through its subsidiaries invests in electric transmission projects supporting Con Edison’s effort to transition to clean, renewable energy and through joint ventures manages both electric and gas assets while seeking to develop electric transmission projects
Read our Annual Report (Consolidated Edison, Inc. – Annual Reports (conedison.com).
Download ReportOur Service Area
Revenue by Business (Unit: USD Millions)
*On March 1, 2023, Con Edison completed the sale of all of Con Edison Clean Energy Businesses, Inc. (Clean Energy Businesses or CEBs).
**Other includes the parent company, Con Edison’s tax equity investments, a deferred project held for sale and consolidation adjustments.
This report contains forward-looking statements that are intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other matters, our efforts, plans, goals, and strategies with respect to sustainability and environmental matters and the potential benefits to us and our customers from such efforts. Forward-looking statements are statements of future expectations and not facts. Words such as “forecasts,” “expects,” “estimates,” “anticipates,” “intends,” “believes,” “plans,” “will,” “target,” “guidance,” “potential,” “consider” and similar expressions identify forward-looking statements. The forward-looking statements reflect information available and assumptions at the time the statements are made, and accordingly, speak only as of that time.
Actual results or developments might differ materially from those included in the forward-looking statements because of various factors such as those identified in reports Con Edison has filed with the Securities and Exchange Commission including that Con Edison’s subsidiaries are extensively regulated and are subject to substantial penalties; its utility subsidiaries’ rate plans may not provide a reasonable return; it may be adversely affected by changes to the utility subsidiaries’ rate plans; the failure of, or damage to, its subsidiaries’ facilities could adversely affect it; a cyber-attack could adversely affect it; the failure of processes and systems, the failure to retain and attract employees and contractors, and their negative performance could adversely affect it; it is exposed to risks from the environmental consequences of its subsidiaries’ operations, including increased costs related to climate change; its ability to pay dividends or interest depends on dividends from its subsidiaries; changes to tax laws could adversely affect it; it requires access to capital markets to satisfy funding requirements; a disruption in the wholesale energy markets, increased commodity costs or failure by an energy supplier or customer could adversely affect it; it faces risks related to health epidemics and other outbreaks; its strategies may not be effective to address changes in the external business environment; it faces risks related to supply chain disruptions and inflation; and it also faces other risks that are beyond its control. Con Edison assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Board of Directors
Audit Committee | Corporate Governance and Nominating Committee | Safety, Environment, Operations and Sustainability Committee | Executive Committee | Finance Committee | Management Development and Compensation Committee | |
---|---|---|---|---|---|---|
Tim Cawley | Chair | |||||
Ellen V. Futter | ||||||
John F. Killian | Chair | |||||
Karol V. Mason | ||||||
John McAvoy* | ||||||
Dwight A. McBride | ||||||
William J. Mulrow | ||||||
Armando J. Olivera | Chair | |||||
Michael W. Ranger | Chair | |||||
Linda S. Sanford | ||||||
Deirdre Stanley | Chair | |||||
L. Frederick Sutherland | Chair | |||||
Catherine Zoi** |
Tim Cawley | |
---|---|
Tim Cawley | |
Executive Committee | Chair |
Ellen V. Futter | |
Ellen V. Futter | |
Safety, Environment, Operations and Sustainability Committee |
|
Executive Committee |
|
John F. Killian | |
John F. Killian | |
Audit Committee | Chair |
Corporate Governance and Nominating Committee |
|
Executive Committee |
|
Management Development and Compensation Committee |
|
Karol V. Mason | |
Karol V. Mason | |
Corporate Governance and Nominating Committee |
|
Safety, Environment, Operations and Sustainability Committee |
|
John McAvoy* | |
John McAvoy* | |
Safety, Environment, Operations and Sustainability Committee |
|
Executive Committee |
|
Dwight A. McBride | |
Dwight A. McBride | |
Safety, Environment, Operations and Sustainability Committee |
|
Management Development and Compensation Committee |
|
William J. Mulrow | |
William J. Mulrow | |
Safety, Environment, Operations and Sustainability Committee |
|
Finance Committee |
|
Management Development and Compensation Committee |
|
Armando J. Olivera | |
Armando J. Olivera | |
Audit Committee |
|
Safety, Environment, Operations and Sustainability Committee | Chair |
Executive Committee |
|
Finance Committee |
|
Michael W. Ranger | |
Michael W. Ranger | |
Audit Committee |
|
Corporate Governance and Nominating Committee | Chair |
Executive Committee |
|
Finance Committee |
|
Management Development and Compensation Committee |
|
Linda S. Sanford | |
Linda S. Sanford | |
Audit Committee |
|
Corporate Governance and Nominating Committee |
|
Finance Committee |
|
Deirdre Stanley | |
Deirdre Stanley | |
Corporate Governance and Nominating Committee |
|
Management Development and Compensation Committee | Chair |
L. Frederick Sutherland | |
L. Frederick Sutherland | |
Audit Committee |
|
Finance Committee | Chair |
Management Development and Compensation Committee |
|
Catherine Zoi** | |
Catherine Zoi** | |
Safety, Environment, Operations and Sustainability Committee |
|
Board of Directors
* Until May 15, 2023.
** As of February 1, 2024.
Financial Highlights (million $ except per-share information and statistical data)
2021 |
2022 |
2023 |
|
---|---|---|---|
Operating revenues |
$13,676 |
$15,670 |
$14,663 |
Net income for common stock |
$1,346 |
$1,660 |
$2,519 |
Basic earnings per common share |
$3.86 |
$4.68 |
$7.25 |
Dividends per share |
$3.10 |
$3.16 |
$3.24 |
Dividend payout ratio |
80% |
68% |
45% |
Average common shares outstanding |
348.4 |
354.5 |
347.7 |
Total assets |
$63,116 |
$69,065 |
$66,331 |
Capital investments |
$3,964 |
$4,465 |
$4,509 |
Common equity ratio |
47.4% |
50.9% |
49.1% |
Return on equity |
6.83% |
8.05% |
12.1% |
Market capitalization |
$30,200 |
$33,800 |
$31,400 |
Stock price per share (year end) |
$85.32 |
$95.31 |
$90.97 |
Dividend yield (year end) |
3.6% |
3.3% |
3.6% |
Total shareholder return |
23.0% |
15.7% |
(1.1)% |