Southern Company Q1 Earnings: Revenue Climbs 8% to $8.4B, EPS Beats
SO•Southern Company posted first-quarter net income of $1.36 billion, or $1.21 per share, while adjusted earnings reached $1.5 billion, or $1.32 per share, surpassing consensus. Operating revenue climbed 8.0% year-over-year to $8.4 billion, exceeding the $8.09 billion forecast.
1. Q1 Earnings Results
Southern Company reported first-quarter net income of $1.36 billion, or $1.21 per share, and adjusted net income of $1.5 billion, representing $1.32 per share, both figures exceeding analyst expectations.
2. Revenue and Utility Drivers
Operating revenue rose 8.0% year-over-year to $8.4 billion, driven by higher utility revenues and customer growth, partially offset by milder weather at regulated electric utilities and higher interest expense.
3. Non-GAAP Adjustments
Adjusted net income excludes accelerated depreciation of $154 million (net $120 million after tax), an $11 million loss on debt extinguishment (net $8 million after tax) and a $2 million investment estimate, boosting adjusted EPS by $0.11.
4. Investor Call and Next Steps
Management will host an earnings call at 1 p.m. ET to discuss results and business developments, with accompanying slides and a replay available on the company’s investor website.
