Southern Company reported a solid third quarter with increased earnings driven by higher utility revenues, despite facing headwinds from higher depreciation and interest expenses.
Third-quarter earnings increased to $1.7 billion, or $1.55 per share, up from $1.5 billion, or $1.40 per share, in the prior year.
positiveOperating revenues for the third quarter were $7.8 billion, a 7.5% increase compared to $7.3 billion in the prior year.
positiveYear-to-date earnings (excluding special items) increased to $4.1 billion, or $3.76 per share, from $3.9 billion, or $3.56 per share, in the prior year.
positiveTotal regulated utility customers increased by 0.8% year-over-year to 8,934 thousand.
neutralHigher depreciation and amortization expenses impacted earnings.
attentionInterest expense increased, also impacting earnings.
attentionSouthern Power's net income decreased significantly by 96.3% year-over-year.
negativeSouthern Company Gas's net income decreased by 34.2% year-over-year.
negativeMargin metrics will be available once backend extracts data from insights_json
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Southern Company's robust third quarter performance is driven by momentum around electric demand growth opportunities and interest in our service territories.
The company is focused on meeting growing needs while providing premier reliability and resilient service for its 9 million customers.
Disciplined approach and commitment to customers position the company to finish the year strong and capture future opportunities.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.