Southern Company Issues Earnings Guidance

(RTTNews) - The Southern Company (SO) announced, for 2023, the company expects adjusted EPS in a range of $3.55 to $3.65. Approximately 90% of projected earnings are from Premier State-Regulated Electric and Gas Franchises. For 2024, the company estimates adjusted EPS in a range of $3.95 to $4.10.

Southern Company reported a fourth-quarter loss of $87 million, or $0.08 per basic share, compared with a loss of $215 million, or $0.20 per basic share, a year ago. Excluding items, Southern Company reported net income of $285 million, or $0.26 per basic share, during the fourth quarter of 2022, compared with $380 million, or $0.36 per basic share, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.24, for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $7.05 billion from $5.77 billion, prior year. Analysts on average had estimated $5.46 billion in revenue.

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