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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
05/29/201516:50:56Current Report Filing (8-k)
05/29/201513:21:04How Important is Free Cash Flow to E&P Companies?
05/29/201511:58:23Statement of Changes in Beneficial Ownership (4)
05/27/201513:00:00Inventing the future of energy: Southern Company holds annual...
05/22/201509:00:00Southern Company earns national recognition as a top military...
05/21/201512:00:00Southern Company subsidiary furthers renewable energy leadership...
05/21/201507:03:48Current Report Filing (8-k)
05/20/201515:12:00Hendrickson to lead Georgia Power Corporate Communication
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201513:02:00Georgia Power launches 2015/2016 ASI Distributed Generation program
05/18/201509:00:00Formal Expression of Interest in Lightbridge Metallic Fuel Submitted...
05/16/201510:07:035 Things Southern Co.'s Management Wants You to Know
05/15/201517:26:00Construction to begin on Georgia Power Georgia 3x30 solar projects
05/15/201516:42:14Current Report Filing (8-k)
05/15/201511:48:08This Dow Average is Already Having Its Correction
05/14/201508:40:00Georgia Power marks signing of groundbreaking solar legislation...
05/13/201516:31:00Third phase of Dalton Solar Plant now online
05/12/201516:41:23Additional Proxy Soliciting Materials (definitive) (defa14a)
05/11/201516:52:29Notice of Exempt Solicitation Pursuant to Rule 14a6(g) (px14a6n)
05/11/201516:45:56Notice of Exempt Solicitation Pursuant to Rule 14a6(g) (px14a6n)

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