Southern Company announced its first-quarter earnings for 2025, reporting a net income of $1.3 billion, or $1.21 per share, up from $1.1 billion, or $1.03 per share in the same period of 2024. When excluding certain items, the earnings were $1.4 billion, or $1.23 per share, also showing an increase from the previous year's $1.1 billion, or $1.03 per share. The company's operating revenues rose by 17% to $7.8 billion compared to $6.6 billion in the first quarter of 2024, driven by higher utility revenues despite increased operational expenses and depreciation costs.
The company highlighted growth in its customer base, serving nearly 9 million customers across the Southeast. Southern Company's chairman, Chris Womack, noted the effectiveness of their customer-focused business model in delivering reliable energy. The financial results indicate a positive trend for the company, which also plans to discuss these earnings further in a financial analyst call scheduled for later today.
linkMay 01, 2025 08:11:40
Southern Company reported a decrease in fourth-quarter earnings for 2024, posting $534 million, or 49 cents per share, down from $855 million, or 78 cents per share in the same quarter of 2023. However, full-year earnings improved to $4.4 billion, or $4.02 per share, compared to $4.0 billion, or $3.64 per share in 2023. The fourth-quarter operating revenues increased to $6.3 billion, reflecting a 4.9% rise from the previous year, while full-year revenues rose to $26.7 billion, a 5.8% increase year-over-year. Excluding certain items, fourth-quarter earnings were $544 million, down from $700 million in 2023, while full-year earnings excluding items remained steady at $4.4 billion compared to 2023.
On the negative side, the decline in fourth-quarter earnings was attributed to higher non-fuel operations and maintenance expenses, increased interest expense, and depreciation costs. The earnings per share for the fourth quarter decreased significantly, with a reported decline of 29 cents compared to the prior year. Additionally, the company faced challenges related to plants under construction, which impacted its financial results. Despite these challenges, the CEO highlighted the commitment to meet growing energy needs sustainably, indicating a focus on future growth amidst current hurdles.
linkFeb 20, 2025 08:13:08
Southern Company (NYSE: SO) increases its Series 2024A 4.50% Convertible Senior Notes offering to $1.3 billion, with an additional $200 million option for initial purchasers. The notes will mature in 2027, paying 4.50% interest semiannually. The conversion rate offers a 22.50% premium above the stock price. Proceeds will retire commercial paper debts and fund general corporate activities. The offering is private, not registered under Securities Act for public sale.
linkMay 07, 2024 09:12:05
Southern Company plans to offer $1.1 billion in Convertible Senior Notes due 2027 to institutional buyers. The terms of the notes will be determined later. The company intends to use the proceeds to repay commercial paper debts and for general corporate purposes. The notes will be convertible before 2027 under certain conditions. This offering is not a solicitation to buy, and the notes are not registered under the Securities Act.
linkMay 06, 2024 06:57:53
Southern Company's Q1 2024 earnings reached $1.1 billion, up from $862 million in Q1 2023. The company attributes this growth to higher utility revenues. Additionally, the successful commercial operation of Plant Vogtle Unit 4 is highlighted as a significant achievement, making Plant Vogtle the largest clean energy generator in the US. Despite increased interest expenses, the company's operating revenues rose to $6.6 billion in Q1 2024 from $6.5 billion in Q1 2023. Southern Company emphasizes its commitment to providing clean, reliable, and affordable energy while aiming for net zero greenhouse gas emissions by 2050.
linkMay 02, 2024 08:10:47
Southern Company reported a significant increase in earnings for the fourth quarter and full year of 2023 compared to the same periods in 2022. Excluding certain items, the company's earnings were $700 million for the fourth quarter and $4.0 billion for the full year, indicating substantial growth. The company's adjusted earnings drivers for 2023 were higher utility revenues and lower non-fuel operations and maintenance costs, partially offset by increased depreciation and amortization and interest expense. Additionally, Southern Company completed the construction of Plant Vogtle Unit 3, the first newly-constructed nuclear unit in the United States in over three decades.
linkFeb 15, 2024 08:16:21