Q1 26 EPS
$1.32
BEAT +8.87%
Est. $1.21
Q1 26 Revenue
$8.40B
BEAT +3.59%
Est. $8.11B
vs S&P Since Q1 26
+310.2%
BEATING MARKET
SO +317.4% vs S&P +7.2%
Market Reaction
Did SO Beat Earnings? Q1 2026 Results
Mississippi Power Co. Posted a solid first quarter for 2026, with parent Southern Company reporting adjusted earnings of $1.32 per share on revenue of $8.40 billion, as broad-based gains across electric and gas operations lifted total revenues 8.0% f… Read more Mississippi Power Co. Posted a solid first quarter for 2026, with parent Southern Company reporting adjusted earnings of $1.32 per share on revenue of $8.40 billion, as broad-based gains across electric and gas operations lifted total revenues 8.0% from $7.78 billion a year ago. The headline adjusted EPS figure, up from $1.23 in the prior-year period, was powered primarily by the Traditional Electric Operating Companies, alongside a jump in the allowance for equity funds used during construction to $121.00 million from $73.00 million, reflecting the company's accelerating capital investment program. Partially offsetting those tailwinds, milder-than-normal weather trimmed approximately $0.05 from per-share results, and interest expense climbed $64.00 million to $778.00 million. Underlying demand trends remained firm, with weather-adjusted retail kilowatt-hour sales growing 2.3% and customer count reaching 9.04 million. Looking ahead, Southern Company flagged approximately $335.00 million in remaining pre-tax accelerated depreciation charges tied to wind facility repowering projected for the rest of 2026, with an additional $100.00 million expected in 2027, as repowering work continues through the third quarter of that year.
Key Takeaways
- • Higher utility revenues drove adjusted earnings growth
- • Weather-adjusted retail kilowatt-hour sales grew 2.3%, with commercial sales up 4.6% and industrial up 1.5%
- • Wholesale kilowatt-hour sales increased 12.9%
- • Allowance for equity funds used during construction increased to $121 million from $73 million
- • Milder than normal weather at regulated electric utilities reduced EPS by approximately $0.05
- • Higher interest expense of $778 million vs. $714 million partially offset earnings growth
- • Share dilution reduced EPS by approximately $0.03 as average shares grew from 1,100 million to 1,124 million
SO YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
SO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Southern Company is delivering on our plans to serve growth in a way that is both beneficial and protective for existing customers. As our region continues to grow, we're investing in the infrastructure needed to support that growth in a way that provides long-term value while staying grounded in what our customers value most – reliability they can count on and a focus on keeping rates stable. We're uniquely positioned to do this because of our scale, skill and expertise, all of which are focused on putting our customers and communities first.”
— Chris Womack, Q1 2026 Earnings Press Release
SO Earnings Trends
SO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SO EPS Trend
Earnings per share: estimate vs actual
SO Revenue Trend
Quarterly revenue: estimate vs actual
SO Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.00 | $1.13 | +13.00% | $6.98B | — |
| Q1 26 BEAT | $1.21 | $1.32 | +8.87% | $8.40B | +3.59% |
| Q4 25 MISS FY | $0.56 | $0.55 | -1.36% | $6.98B | +10.87% |
| FY Full Year | $4.29 | $4.30 | +0.31% | $29.55B | +3.30% |
| Q3 25 BEAT | $1.51 | $1.60 | +6.04% | $7.82B | -1.26% |
| Q2 25 BEAT | $0.88 | $0.92 | +4.96% | $6.97B | +8.89% |
| Q1 25 BEAT | $1.19 | $1.23 | +3.02% | $7.78B | +6.31% |