Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Southern Co. Q1 Profit Spikes, Results Top Street - Quick Facts

RELATED NEWS
Trade SO now with 

Electric utility Southern Co.'s (SO: Quote) first-quarter 2014 earnings jumped significantly to $351 million, or $0.39 per share, from $81 million, or $0.09 per share, last year. The company said the latest results included a $235 million after-tax charge related to an increased construction estimate for Mississippi Power's Kemper integrated gasification combined cycle or IGCC project; while the prior-year quarter's results included a $333 million after-tax charge for the Kemper IGCC project and a $16 million after-tax charge related to the restructuring of a leveraged lease investment.

Excluding these items, the company earned $586 million, or $0.66 per share, during the first quarter of 2014. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.56 for the quarter. Analysts' estimates typically exclude one-time items.

According to the company, quarterly earnings were positively influenced by colder-than-normal winter weather, residential and industrial sales growth and retail revenue effects at all four of its traditional operating companies.

First-quarter 2014 operating revenues were $4.6 billion, compared with $3.9 billion for the same period in 2013, up 19.2 percent. Six analysts estimated revenues of $4.03 billion for the quarter.

"Winter storms contributed to the Southeast's coldest January in 20 years, driving energy demand and demonstrating the resilience of our system and the commitment of our employees," said Southern Company's Chairman, President and Chief Executive.

Register
To receive FREE breaking news email alerts for Southern Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Hewlett-Packard has recalled the AC power cords for its HP and Compaq notebook computer, citing a tendency to overheat, causing a potential fire and burn hazard. HP requests that consumers stop using the cord immediately and contact them to order a replacement cord free of charge. A UN report describing terrible atrocities carried out by Islamic State militants in Syria says children as young as 10 are being recruited and trained at ISIS camps as fighters. The report, based on 480 interviews and and evidence collected between 20 January and 15 July, chronicles the unimaginable brutality and human cost of the Syrian conflict. The report by the independent international com Poverty in Latin America and the Caribbean has been reduced by almost half in the last decade, and the middle class grew by 82 million people, from 21 percent of the population in 2000 to 34 percent in 2012, according to new data released by the United Nations Development Program (UNDP). UNDP's analysis, based on data from the Center for Distributive, Labor and Social Studies (CEDLAS), highlights
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.