$SO · SOUTHERN CO
Southern Company filed an 8-K (Item 2.02) with its Q3 2026 earnings release. GAAP net income was $2.046B ($1.77/share) versus $1.711B ($1.55/share) a year ago. Excluding items, net income was $2.242B ($1.94/share) versus $1.766B ($1.60/share). Operating revenue rose 13.0% to $8.8B from $7.8B.
- Q3 2026 GAAP EPS $1.77 vs $1.55 prior year; adjusted EPS $1.94 vs $1.60.
- Operating revenue rose 13.0% to $8.8B from $7.8B.
- Nine-month adjusted EPS $4.40 vs $3.76; GAAP $4.02 vs $3.56.
- Growth driven by warmer weather, customer growth, and large commercial/industrial demand.
- Average shares outstanding rose to 1.157M from 1.102M, a dilution headwind.
Extended-hours last trade $94.29, up 1.26% vs the $93.12 regular close, indicating a mildly positive reaction to the earnings beat.
A clean earnings beat with double-digit revenue growth underscores Southern's leverage to surging Southeast electricity demand.
Southern Company's results reflect the Southeast's data-center-driven electricity demand growth, a key theme across regulated utilities.
Repowering accelerated depreciation charges continue through Q3 2027 (~$135M pre-tax in 2027); further Nicor Gas disallowance charges are possible.