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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
05/26/201612:19:00Southern Nuclear wins numerous honors for innovative developments...
05/25/201613:45:00Southern Company elects Larry D. Thompson its lead independent...
05/24/201615:30:00U.S. Energy Secretary Visit Highlights Southern Company's Innovation...
05/24/201614:08:40Current Report Filing (8-k)
05/24/201611:35:00Summer school now in session with Georgia Power
05/24/201611:33:00Southern Company honored as top military employer
05/23/201616:40:00Georgia Power promotes water safety during National Safe Boating...
05/23/201613:57:00Georgia Power Social Media Center opens in Atlanta
05/23/201609:33:00Georgia Power engages 100,000 students in STEM learning
05/20/201617:07:08Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
05/20/201612:00:00Mississippi Power, Origis Energy break ground on new solar energy...
05/20/201606:01:38Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/19/201610:03:19Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
05/17/201616:27:21Additional Proxy Soliciting Materials (definitive) (defa14a)
05/17/201612:54:00Georgia PSC approves 15 percent fuel rate reduction
05/16/201610:33:05Statement of Changes in Beneficial Ownership (4)
05/16/201603:03:00Southern's Clean-Coal Woes Mount -- WSJ
05/15/201622:10:00Woes Mount for Clean-Coal Power Project
05/14/201605:59:00Southern Co.'s Clean-Coal Power Project Woes Mount
05/13/201613:30:00760 tons of new equipment placed at Vogtle Unit 3

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