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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
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
11/14/201307:19:20The Vanguard Group 3Q 13F: Holdings As Of Sep 30 -2-
10/30/201308:38:33Southern 3rd-Quarter Profit Down 12% on Clean Coal Project Charges
07/31/201308:33:48Southern 2nd-Quarter Net Falls 52% on Higher Costs, Mild Weather
06/24/201311:30:24Supreme Court to Review Air Pollution Rules

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