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Southern Co Sees 2012 Rise In Profit, Retail-Electricity Sales

By Cassandra Sweet Of DOW JONES NEWSWIRES Southern Co. (SO) forecast Wednesday its retail-electricity sales would climb 1.3% in 2012 and its profit for the year would be between $2.58 and $2.70 a share, up roughly 5% from 2011. Analysts polled by Thomson Reuters had projected a 5% increase in 2012 earnings to $2.69 a share. Shares of Southern recently were trading 0.7% lower at $44.61. The company posted higher fourth-quarter and full-year earnings, but its fourth-quarter revenue missed analysts' expectations. The company plans to spend up to $18.4 billion over the next three years on new nuclear-power and other projects, including up to $5.7 billion planned for 2012. The U.S. Nuclear Regulatory Commission is expected to issue a license for the company to build two new nuclear reactors "any day now," Tom Fanning, Southern's chief executive, said during a conference call with analysts. Southern said it hopes to obtain federal-loan guarantees of as much as $4.3 billion to build two new reactors planned for the Plant Vogtle nuclear-power complex in Georgia and a low-emission coal-fired power plant in Mississippi. That amount would cover about 40% of the total estimated cost of the projects, the company said. Southern, one of the largest U.S. utilities, reported quarterly profit of $261 million, or 30 cents a share, up from $153 million, or 18 cents a share, a year earlier. In October, the company predicted earnings of 29 cents a share. Revenue fell 2% to $3.7 billion. Analysts polled by Thomson Reuters most recently forecast $4.01 billion. Southern reported full-year 2011 earnings of $2.2 billion, or $2.57 a share, up from $1.97 billion or $2.37 a share in 2010. Full-year revenue was $17.66 billion, up slightly from $17.46 billion in 2010. -By Cassandra Sweet, Dow Jones Newswires; 415-439-6468; cassandra.sweet@dowjones.com

Stock News for Southern (SO)
DateTimeHeadline
07/26/201616:51:25Current Report Filing (8-k)
07/26/201615:00:00Southern Company and partners announce waterway conservation...
07/25/201615:20:00Latest Vogtle timeline video highlights focus on safety, productivity...
07/25/201609:46:20Statement of Changes in Beneficial Ownership (4)
07/20/201618:50:00Kinder Morgan Revenue Falls
07/20/201613:50:00Georgia Public Broadcasting Launches Chemistry Matters August...
07/19/201614:15:00Southern Company subsidiaries announce leadership changes
07/18/201615:30:00Southern Company announces quarterly dividend
07/15/201613:00:00Southern Company subsidiary announces syngas production milestone...
07/15/201611:39:00Georgia Power introduces new Billing Alerts
07/14/201614:00:00Southern Company and partners announce Gulf Coast Conservation...
07/13/201615:20:00Alabama Power declares dividends
07/11/201616:28:42Current Report Filing (8-k)
07/11/201614:30:00Southern Company celebrates transformational changes with ringing...
07/11/201612:00:00Southern Company unveils new brand
07/11/201610:03:36Statement of Changes in Beneficial Ownership (4)
07/11/201603:03:00Kinder Morgan, Southern Agree to Gas Pipeline Venture -- WSJ
07/10/201621:20:00Kinder Morgan, Southern Set Pipeline Venture
07/10/201619:37:00Southern Buying 50% Stake in Kinder Morgan Pipeline for $1.47...
07/10/201618:00:00Southern Company, Kinder Morgan Enter Southern Natural Gas Pipeline...

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