Companies /Utilities

Southern Company

NYSE: SO Utilities - Regulated Electric
$88.24
▼ $0.82 (−0.92%) today
Markets closed · 5:36pm ET

Q2 2025 Earnings

Reported Jul 31, 2025, 8:12am ET · SEC source
$0.92
Beat +4.96%
EPS · est. $0.88
$7.0B
Beat +8.89%
Revenue · est. $6.4B
−3.8%
Trailing market
SO vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%Jul 30Aug 8report 8:12am ETearnings−0.7%+2.1%
−2%0+2%Jul 30Aug 8earnings−0.7%+2.1%
SO +2.1%S&P 500 −0.7%
−4%−2%0+2%Jul 30Aug 8report 8:12am ETearnings−0.5%+2.1%
−4%−2%0+2%Jul 30Aug 8earnings−0.5%+2.1%
SO +2.1%NASDAQ −0.5%
−0.44%
Day of report
+0.54%
Next session
+0.92%
One week
−2.53%
30 days

S&P 500 over the same 30 days: +1.30%.

Did SO Beat Earnings? Q2 2025 Results

Southern Company delivered a mixed second quarter for 2025, posting adjusted earnings of $0.92 per share on revenues of $6.97 billion — a 7.9% revenue gain from the prior year that nonetheless came alongside an 18-cent decline in non-GAAP EPS as cost pressures mounted across the business. The Atlanta-based utility's GAAP results were more sharply affected, with net income falling 26.8% to $880 million, dragged lower by $129 million in pre-tax losses tied to the extinguishment of convertible senior notes and accelerated depreciation charges related to wind facility repowering at Southern Power. Georgia Power, the company's largest subsidiary, saw net income drop 20.3% to $607 million despite an 8.2% revenue increase, while Alabama Power offered a bright spot with a 3.3% gain. Weather-adjusted retail sales growth of 3.0% and strong industrial demand pointed to underlying demand momentum, and the company's 78-year dividend streak remains intact with a 74-cent quarterly payment. Management said it remains on track to meet its full-year 2025 goals, even as wind repowering depreciation charges are expected to continue through mid-2027.

Key Takeaways
  • Higher utility revenues driven by retail revenue impacts and retail sales growth
  • Higher non-fuel operations and maintenance expenses as a headwind
  • Prior year gains on transmission asset sales not repeated
  • Milder weather negatively impacted results by 7 cents per share
  • Higher income taxes, depreciation and amortization, and interest expense
  • Industrial kilowatt-hour sales growth of 2.8%
  • Weather-adjusted total retail sales growth of 3.0%
  • Commercial sales growth of 1.3% (3.5% weather-adjusted)

“This is an exciting time for Southern Company. We performed well both financially and operationally through the first half of the year and remain well positioned to deliver on our 2025 goals.”

Southern Company CEO, on the earnings call

Forward Guidance & Outlook

Southern Company stated it remains well positioned to deliver on its 2025 goals. The company noted favorable regulatory outcomes in its service territories and continued focus on balancing growth, reliability, and affordability. Accelerated depreciation charges from the Southern Power wind repowering projects are expected to continue through Q2 2027, with projected remaining pre-tax charges of approximately $215 million in 2025, $320 million in 2026, and $25 million in 2027.

SO YoY Financials

Revenue$7.0B
Operating Income$1.8B
Net Income$880.0M

SO Revenue by Segment

Georgia Power$3.1B+8.2%
Alabama Power$2.0B+5.1%
Southern Company Gas$979.0M+17.8%
Southern Power$546.0M+4.2%
Mississippi Power$400.0M+9.9%

Figures from SEC filings and company reports. Not investment advice.