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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
04/27/201611:17:00Correction to Southern Co. Profit Falls 5.5%
04/27/201611:04:00Southern Co. Profit Falls 5.5%
04/27/201611:00:00Mississippi Power, Silicon Ranch break ground on new solar energy...
04/27/201608:30:43Current Report Filing (8-k)
04/27/201607:30:00Southern Company reports first-quarter earnings
04/26/201616:20:47Current Report Filing (8-k)
04/25/201612:36:00Georgia Power releases 2015 Citizenship Report
04/22/201610:53:00Southern Nuclear hosts renowned safety presenter for high school...
04/21/201613:00:00DiversityInc names Southern Company a top U.S. diverse corporation
04/20/201614:15:00Georgia Power plans to reduce residential customer bills by nearly...
04/20/201608:40:00Georgia Power team to host 19th annual Run for the Reason
04/19/201615:05:00Georgia Power joins with partners, elected officials to recognize...
04/18/201615:03:20Statement of Changes in Beneficial Ownership (4)
04/18/201615:00:00First AP1000 reactor coolant pump delivered to Vogtle expansion
04/18/201614:45:00Southern Company raises dividend rate 15th straight year; annualized...
04/14/201617:05:48Current Report Filing (8-k)
04/14/201611:50:00Alabama Power declares dividends
04/14/201611:20:00Georgia Power base electric rates to remain flat through 2019
04/14/201611:15:00Southern Company, AGL Resources receive merger approval from...
04/13/201612:09:00Plant Hatch unveils new FLEX Dome

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