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Southern Company (SO) Beats Q1 Earnings, Revenue Falls

Atlanta, GA-based Southern Company SO is one of the largest generators of electricity in the nation, serving both regulated and competitive markets across the southeastern U.S. It is a holding company for four regulated Southern electric utilities that serve about 4.4 million customers – Georgia Power, Alabama Power, Gulf Power, and Mississippi Power.

Currently, Southern Company has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. Coming to earnings surprise history, the company has a good record: its beaten estimates in 3 of the last four quarters with an average beat of 1.69%.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Southern Companybeats on earnings. Earnings per share (excluding certain one-time items) came in at 58 cents, ahead of the Zacks Consensus Estimate of 53 cents.

Revenue: Revenues fall year-over-year. Revenues of $3,965 million were down 5% from the first quarter 2015 level of $4,183 million.

Key Stats: Southern Company’s total retail sales fell 3.0%, mainly on lower residential sales. The power supplier’s operations and maintenance cost edged down 1% to $1,109 million, while the company’s total operating expense for the period – at $3,035 million – was approximately 6% lower than the prior-year level.

Check back later for our full write up on this Southern Company earnings report later!

 

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SOUTHERN CO (SO): Free Stock Analysis Report
 
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