Atlanta, GA-based Southern CompanySO is one of the largest generators of electricity in the nation, serving both regulated and competitive markets across the southeastern U.S. It is a holding company for four regulated Southern electric utilities that serve about 4.4 million customers - Georgia Power, Alabama Power, Gulf Power, and Mississippi Power.
Currently, Southern Company has a Zacks Rank #2 (Buy) but that could change following its fourth quarter 2015 earnings report which has just released. Coming to earnings surprise history, the company has a mixed track record: its beaten estimates in 2 of the last four quarters.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Southern Companybeats on earnings. Earnings per share (excluding certain one-time items) came in at 44 cents, ahead of the Zacks Consensus Estimate of 42 cents.
Revenue: Revenues below expectations. Revenues of $3,606 million were under the Zacks Consensus Estimate of $4,437 million.
Key Stats: Southern Company's total retail sales fell 5.7%, mainly on lower residential sales. The power supplier's operations and maintenance cost decreased 15% to $1,134 million, while the company's total operating expense for the period - at $3,028 million - was approximately 12% lower than the prior-year level.
Check back later for our full write up on this Southern Company earnings report later!