Southern (SO) Q1 Earnings Beat on Lower Operating Expense
SOSouthern Company(SO) Zacks Investment Research·2024-05-07 20:46

Power supplier The Southern Company (SO) reported first-quarter 2024 earnings per share (excluding certain one-time items) of 1.03,aheadoftheZacksConsensusEstimateof90centsandsignificantlyabovetheyear−agoadjustedprofitof79cents.Theoutperformancereflectslower−than−expectedoperatingexpensestogowiththepositiveeffectsofweather,rates,usageandpricingchanges.Meanwhile,theutilityreportedrevenuesof1.03, ahead of the Zacks Consensus Estimate of 90 cents and significantly above the year- ago adjusted profit of 79 cents. The outperformance reflects lower-than-expected operating expenses to go with the positive effects of weather, rates, usage and pricing changes. Meanwhile, the utility reported revenues of 6.6 billion. The top line came in 2.6% higher than first-quarter 2023 sa ...