Southern Co. Reports Higher Adjusted Profit as Expenses Fall -- Earnings Review
August 08 2018 - 10:10AM
Dow Jones News
By Robert Barba
Southern Co. (SO) reported results for the second quarter on
Wednesday. Here's what you need to know.
RESULTS: The company, which operates energy utility companies in
the South, reported a loss of $154 million, or 15 cents a share,
compared to a loss of $1.38 billion, or $1.38 a share, a year
earlier. When adjusted for items including estimated loss on plants
under construction, the company reported earnings increased 9.6% to
80 cents a share. Analysts polled by FactSet were expecting
earnings of 73 cents a share and adjusted earnings of 68 cents a
share.
REVENUE: The company reported revenue of $5.6 billion, up 3.6%
from a year earlier.
EXPENSES: Operating expenses were $5.6 billion, down 21% from a
year earlier.
USAGE: The company reported 52.2 million kilowatt-hours sold, up
2.2%. Residential sales were up 5%.
Shares of Southern were down 4% to $47.13 in early trading.
Write to Robert Barba at robert.barba@wsj.com
(END) Dow Jones Newswires
August 08, 2018 09:55 ET (13:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Southern (NYSE:SO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Southern (NYSE:SO)
Historical Stock Chart
From Apr 2023 to Apr 2024