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Southern 4Q Net Up 71% On Lower Costs

DOW JONES NEWSWIRES Southern Co.'s (SO) fourth-quarter profit rose 71% as the southeastern U.S. utility benefited from lower fuel and purchased power costs and other expenses. However, revenue missed expectations as sales volume declined and performance was hit by weather that was closer to normal than last year. The operator of power utilities in Georgia, Florida, Alabama and Mississippi had benefited from stronger industrial demand in recent quarters as production improves from slumping levels in the recession. The company recently said it is continuing to see an economic recovery in its markets, but at a slower pace than expected. Southern, one of the largest U.S. utilities, reported a profit of $261 million, or 30 cents a share, up from $153 million, or 18 cents a share, a year earlier. The company in October expected 29 cents. Revenue fell 2% to $3.7 billion. Analysts polled by Thomson Reuters most recently forecast $4.01 billion. Fuel and purchased power costs were down 13% and nonfuel operations and maintenance expenses fell 5.1%. Total energy sales, including wholesale sales, decreased 49%. Kilowatt-hour sales to retail customers were down 5.5%, including a 13% drop in residential-electricity sales. Shares closed Tuesday at $44.90 and were inactive premarket. The stock is down 3% this year. -By Ben Fox Rubin and Tess Stynes, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stock News for Southern (SO)
DateTimeHeadline
06/02/201420:23:34Utilities Size Up Emission Cap for Power Plants
04/29/201421:37:21Southern Co. to Take $380 Million Charge for Kemper Coal Plant...
04/28/201416:53:22MARKET SNAPSHOT: Market Leaders Energy, Utilities Face Earnings...
04/27/201406:17:33MARKET SNAPSHOT: Energy, Utilities Companies Face Earnings Tests
02/19/201418:46:18U.S. Loan Guarantee Set for Georgia Nuclear Plant
02/18/201420:20:01U.S. to Clear Guarantees for Two Nuclear Reactors
02/18/201419:39:11Energy Dept to Approve $6.5 Billion in Loan Guarantees for Two...
01/29/201409:39:35U.S. Hot Stocks: Hot Stocks to Watch
01/29/201409:30:14Southern Profit Rises on Improved Weather, Energy Sales
11/15/201309:18:03OZ Management LP 3Q 13F: Largest Purchases -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Largest Purchases
11/15/201307:04:50Bridgewater Associates LP 3Q 13F: Largest -2-
11/15/201307:04:50Bridgewater Associates LP 3Q 13F: Holdings As Of -2-
11/15/201307:04:50Bridgewater Associates LP 3Q 13F: Largest Purchases
11/15/201307:04:49Bridgewater Associates LP 3Q 13F: Holdings As Of Sep 30
11/14/201307:19:32The Vanguard Group 3Q 13F: Largest Purchases
11/14/201307:19:32The Vanguard Group 3Q 13F: Largest Purchases -2-
11/14/201307:19:20The Vanguard Group 3Q 13F: Holdings As Of Sep 30

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