Feb 19 (Reuters) - Consolidated Edison (ED.N) missed Wall Street estimates for fourth-quarter profit on Thursday, hurt by higher operating and interest expenses.
Variable weather conditions including intermittent storms can push up operating and maintenance costs, while higher-for-longer interest rates raise borrowing costs for capital-intensive utilities.
The company’s operating expense in the quarter rose to $3.51 billion, compared to $3.16 billion last year.
Its interest expense rose to $313 million, from $304 million a year ago.
The New York-based utility posted an adjusted profit of 89 cents per share for the three months ended December 31, compared with the analysts’ average estimate of 95 cents per share, according to data compiled by LSEG.
The company expects to make capital investments of about $6.56 billion in 2026 and $6.76 billion in 2027.
The company forecasts full-year adjusted profit in the range of $6 to $6.20 per share. Analysts expect a profit $6.03 per share.
“We expect five-year adjusted profit per share to grow at a compounded annual rate target of 6 to 7 percent with the midpoint of our 2026 adjusted EPS guidance as a baseline,” said CFO Kirk Andrews.

Consolidated Edison misses quarterly profit estimates on higher operating and interest expenses