Southern Company said consolidated net income attributable to Southern Company was $1.5 billion ($1.40 per share) for Q3 2024, compared with $1.4 billion ($1.30 per share) in the corresponding period a year earlier. Year-to-date net income was $3.9 billion ($3.53 per share), compared with $3.1 billion ($2.86 per share) for the same period a year earlier.

1. 01

   Southern Company said consolidated net income attributable to Southern Company was $1.5 billion ($1.40 per share) for Q3 2024, compared with $1.4 billion ($1.30 per share) in the corresponding period a year earlier. Year-to-date net income was $3.9 billion ($3.53 per share), compared with $3.1 billion ($2.86 per share) for the same period a year earlier.

2. 02

   The company cited higher retail electric revenues from rates and pricing, an after-tax charge of $120 million related to the construction of Plant Vogtle Units 3 and 4 in Q3 2023, and higher other revenues as factors behind the increase in net income. It said these were partially offset by higher interest expense and certain other cost increases.

3. 03

   Southern Company said Georgia Power placed Plant Vogtle Unit 4 in service on April 29, 2024, and annual retail base revenues increased approximately $730 million starting on May 1, 2024. The company also said the NCCR tariff was eliminated on the same day, and that Georgia Power's outlook for the total project capital cost of the Plant Vogtle units is $10.7 billion.

4. 04

   Southern Company said its net cash provided from operating activities for the 9 months ended September 30, 2024 increased $1.9 billion compared with the same period a year earlier. The company cited the timing of payments to suppliers, higher retail fuel cost recovery led by Georgia Power, and the timing of fossil fuel stock purchases as factors.

Key figures

Quarter ended September 30, 2024

Revenue

$7.3B

Operating income

$2.4B

Net income

$1.5B

EPS

$1.39

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.