Overview
Southern Co Q3 revenue rises 7.5% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beats consensus, reflecting improved operational performance
Company's Q3 results driven by higher utility revenues despite higher depreciation and interest expenses
Outlook
Southern Co did not provide specific financial guidance for future quarters or the full year
Result Drivers
UTILITY REVENUES - Higher utility revenues drove Q3 results, offsetting increased depreciation and interest expenses
MILDER WEATHER - Milder weather conditions impacted demand during Q3
ELECTRIC DEMAND GROWTH - Strategic focus on electric demand growth and service reliability contributed to performance, per CEO Chris Womack
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$7.80 bln
$7.60 bln (9 Analysts)
Q3 Adjusted EPS
Beat
$1.60
$1.50 (16 Analysts)
Q3 Adjusted Net Income
Beat
$1.80 bln
$1.66 bln (6 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 15 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy."
Wall Street's median 12-month price target for Southern Co is $102.50, about 8.8% above its October 29 closing price of $93.51
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 21 three months ago
Press Release: ID:nPn1KpJHpa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)