Southern Co Q2 adjusted EPS beats expectations on customer growth
SO•Q2 results beat estimates
Southern Co said second-quarter adjusted EPS rose and beat analyst expectations, as customer growth, increased investment in utilities and lower income taxes supported results.
The US utility provider reported Q2 operating revenue of $6.98 billion.
Outlook and analyst context
Southern Co said strong economic development and power demand continue to drive opportunities in the Southeast.
The current average analyst rating on the shares is hold, with 7 strong buy or buy ratings, 16 hold ratings and 2 sell or strong sell ratings.
The median 12-month price target for Southern Co is $102.00, about 6.2% above its July 29 closing price of $96.05.
The stock recently traded at 20 times the next 12-month earnings, versus a P/E of 21 three months ago.
Drivers of quarterly earnings
The company said results were helped by:
