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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
09/01/201514:06:00Plant Hatch breaks ground for new energy education center
08/31/201509:00:00Southern Company subsidiary acquires 200-MW California solar...
08/27/201514:15:00Southern Company partners to award new Gulf Coast Conservation...
08/25/201517:40:00AGL RESOURCES INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF...
08/24/201520:29:00Merger Monday Rolls Ahead; Whiplash For Netflix Holders
08/24/201516:16:10Current Report Filing (8-k)
08/24/201515:01:00WeissLaw LLP Investigates AGL Resources, Inc. Acquisition
08/24/201512:00:00Southern Company--AGL Resources combination enhances customer-focused...
08/24/201511:48:00Southern Co. to Buy AGL Resources for $8 Billion -- 3rd Update
08/24/201510:58:00AGL RESOURCES INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A...
08/24/201510:52:00Southern Co. to Buy AGL Resources for $8 Billion -- 2nd Update
08/24/201508:28:00Southern Co. to Buy AGL Resources for $8 Billion -- Update
08/24/201508:20:00Southern Co. to Buy AGL Resources for $8 Billion
08/24/201508:13:00Southern Co. to Buy AGL Resources for $8 Billion
08/24/201507:41:03Current Report Filing (8-k)
08/24/201507:30:00Southern Company to Acquire AGL Resources in $12 Billion Transaction...
08/19/201516:06:00First Unit 3 Shield Building panels placed at Vogtle expansion
08/18/201514:15:00Vogtle 12th VCM costs approved unanimously by Georgia PSC
08/14/201506:01:26Current Report Filing (8-k)
08/11/201512:07:00National 811 Day highlights digging safety

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