Southern Co. 2Q Revenue Beats Wall Street's Forecasts

By Denny Jacob

Southern Co. posted better-than-expected revenue in its latest quarter, with results from its traditional electric operating companies leading the charge.

The Atlanta company, which operates utilities in several Southeastern states, logged net income of $1.2 billion, or $1.10 a share, for the second quarter ended June 30, up from $838 million, or 77 cents a share, a year earlier. Analysts polled by FactSet expected 92 cents a share.

Adjusted earnings also came in at $1.2 billion, which Southern Co. attributed to higher utility revenues that partially offset increased interest expense, depreciation and amortization, and income taxes.

Revenue climbed to $6.46 billion from $5.75 billion. Analysts polled by FactSet expected $6.01 billion.

Electricity sales as measured by kilowatt hours rose 3.9% to 49.9 million kw hours.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

08-01-24 0810ET