Southern Co. Sees Q1 Earnings Below Market, Growth In FY22 Earnings; Backs Long-term View

(RTTNews) - Southern Co. (SO), a gas and electric utility, Thursday said it sees first-quarter adjusted earnings per share to be $0.90.

On average, six analysts polled by Thomson Reuters expect earnings of $0.91 per share for the quarter. Analysts' estimates typically exclude special items.

In the preceding fourth quarter, the company's adjusted earnings were $0.36.

Further, for fiscal 2022, adjusted earnings guidance range is $3.50 to $3.60 per share, while last year's adjusted earnings were $3.41 per share. Analysts expect earnings of $3.54 per share.

The company continues to project a long-term adjusted earnings per share growth rate in the 5 percent to 7 percent range, consistent with adjusted earnings in a range of $4.00 to $4.30 per share in 2024.

Thomas Fanning, Chairman, President and CEO, said, "2021 was an excellent year and we believe we are well-positioned to carry that momentum into 2022. We have a solid financial outlook for 2022 and beyond, driven by continued investment in our premier, state-regulated electric and gas utility franchises that continue to be among our industry's leaders for operational performance and customer satisfaction."