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

Editors Pick
Apple Inc. said Monday that its fourth quarter profit rose 13% from last year, driven by strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company gave an upbeat revenue forecast for the current quarter, which includes the all important holiday season. Stocks moved notably higher over the course of the trading day on Monday, extending the strong upward move seen last Friday. The gains on the day continued the recent recovery by the markets, with the Nasdaq and the S&P 500 closing higher for the third consecutive session. While Republicans have largely tried to frame the upcoming midterm elections as a referendum on President Barack Obama, Sen. Ted Cruz, R-Tex., has joined the few offering guidance on what the GOP will do if it manages to retake control of the Senate.
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.