Southern Co

SO

Equity

ISIN US8425871071 / Valor 971500

New York Stock Exchange, Inc (2024-12-26)

USD 82.84-0.38%

Southern Co
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About company

Southern Co is a leading energy company that focuses on building a strong network of small and diverse suppliers to enhance customer value and reinforce its supply chain. The company is committed to providing reliable and affordable energy solutions to its customers while also prioritizing sustainability and innovation in its operations. With a focus on diversity and inclusion, Southern Co strives to create a positive impact on the communities it serves while maintaining a strong financial performance.

Summarized from source with an LLMView SourceSector: Energy

Income Growth

Southern Company reported a significant increase in its third-quarter earnings for 2024, reaching $1.5 billion, or $1.40 per share. This marks an improvement from the $1.4 billion, or $1.30 per share, recorded in the third quarter of 2023. The company's earnings for the first nine months of 2024 also showed growth, totaling $3.9 billion, or $3.53 per share, compared to $3.1 billion, or $2.86 per share, for the same period in 2023.

Revenue Increase

Operating revenues for Southern Company in the third quarter of 2024 were $7.3 billion, reflecting a 4.2% increase from the $7.0 billion reported in the third quarter of 2023. For the nine months ending September 30, 2024, the company achieved operating revenues of $20.4 billion, up 6.1% from $19.2 billion in the corresponding period of 2023.

Adjusted Earnings

Excluding certain items, Southern Company's adjusted earnings for the third quarter of 2024 were $1.6 billion, or $1.43 per share, compared to $1.5 billion, or $1.42 per share, in the third quarter of 2023. For the nine months ending September 30, 2024, the adjusted earnings were $3.9 billion, or $3.56 per share, compared to $3.3 billion, or $3.01 per share, for the same period in 2023.

Impact of External Factors

Southern Company's earnings in the third quarter of 2024 were influenced by higher utility revenues, which were partially offset by increased expenses in areas such as interest, depreciation, and taxes. The company also faced challenges due to Hurricane Helene, which significantly impacted operations, particularly for Georgia Power, but the company managed to maintain strong performance.

Future Outlook

Southern Company remains committed to its mission of providing clean, safe, reliable, and affordable energy. The company continues to focus on innovation, resilience, and sustainability, with a goal of achieving net zero greenhouse gas emissions by 2050. The financial results for the third quarter of 2024 reflect the company's ongoing efforts to meet customer and community needs while maintaining strong financial performance.

Summarized from source with an LLMView Source

Key figures

19.3%1Y

24.5%3Y

31.1%5Y

Performance

17.1%1Y

19.5%3Y

26.5%5Y

Volatility