Consolidated Edison IncED

Con Edison’s latest quarterly filing, dated 31 March 2026, reveals a company that looks healthy on paper but keeps its cash reserves tighter than a New York subway token in winter. Net income hit $924 million, revenue reached $5.23 billion (excluding tax), and operating income clocked in at $1.18 billion, yet cash and equivalents stood at just $147 million. The discrepancy isn’t a red flag-it’s a yellow one, the kind that makes analysts squint at the small print. The company’s assets sit at a hefty $74.74 billion, and stockholders’ equity is $25.60 billion, but the company’s ability to turn profits into ready cash is the kind of detail that separates a utility from a tech disruptor.

Con Edison is the 120-year-old backbone of New York City’s energy grid, a regulated monopoly that keeps the lights on from Manhattan to the Bronx by delivering electricity and natural gas to roughly 3.6 million customers. The business model is simple: build infrastructure, maintain it, and charge regulated rates that allow a steady, predictable return. Yet in an era where every company claims to be “revolutionising” something, Con Edison’s filings quietly expose the gap between polished platform stories and the prosaic reality of pipes, wires, and filing trail. The company’s latest 10-Q shows revenue of $5.09 billion, but the cash generated from operations-$174 million-is the kind of figure that makes treasurers reach for the spreadsheet like it’s the last lifeboat on the Titanic.

According to the 10-Q for the quarter ended 31 March 2026, Con Edison reported net income attributable to the parent of $924.0 million, operating income of $1.18 billion, and diluted earnings per share of $2.54 on 364.4 million shares. Revenue from contracts with customers (excluding assessed tax) was $5.23 billion, while total revenues came in at $5.09 billion. Cash and cash equivalents stood at $147.0 million, with net cash provided by operating activities at $174.0 million. Stockholders’ equity was $25.60 billion, and total assets reached $74.74 billion. The filings also show that the company’s dividend policy remains unchanged, and the board’s advisory vote to ratify PricewaterhouseCoopers as the independent accountant for 2026 passed without drama. The real drama, however, is in the small print: the company’s liquidity is thin enough that every capital project feels like a high-wire act.

For investors who like a chart, the raw data is available via SEC EDGAR’s company facts API, which pulls the latest XBRL exhibits for CIK 0001047862. The filing index and submissions JSON provide the filing map, but the numbers themselves tell the story: a company with massive assets and equity but a cash position that wouldn’t cover a week of OPEX feels more like a utility with a liquidity diet than a growth machine. The chart rail is there if you want it, but the file won’t tell you where the price is going-only where the cash has been.

What changed this week? Not much. The latest Form 4 filings show executives continuing to transact under Rule 10b5-1 plans, which is standard practice for insiders, but the optics are harder to ignore when the company’s cash position is as tight as a subway seat at rush hour. The board’s advisory vote on executive compensation sailed through, as these things often do, but the substance-$2.54 diluted EPS-is what matters. The company’s 8-K from 20 May 2026 documents the ratification of PwC, but the real story is the gap between the regulated return on equity and the company’s actual cash generation. The filings don’t show any new products, acquisitions, or divestitures-just the quiet churn of a regulated utility doing what it’s always done: keeping the lights on, one quarter at a time.

The evidence supplied doesn’t include guidance, segment-level breakdowns, or forward-looking statements, so the file can’t tell you whether Con Edison expects regulators to approve rate hikes, whether capex will rise, or whether the company plans to issue debt to shore up liquidity. The filings also don’t reveal any material events, lawsuits, or regulatory actions beyond the standard ratification votes. The company’s shareholder services page exists to field questions, but the answers aren’t in the filings-at least, not yet.