Southern Company 8-K
PositiveEarningsGuidanceImpairment / charge
Warmer weather, large commercial and industrial customers, and Southern Power lifted earnings, partly offset by higher costs and share dilution.
Filed 2026-11-05 08:09 ET
- 2.02 Results of Operations
Summary
Q3 2026 results. Warmer weather, increased usage and customer growth, higher earnings from large commercial and industrial customers, and Southern Power lifted results, partly offset by higher non-fuel operating expenses, taxes other than income taxes, and share dilution. Net income growth swung to +74% Q/Q from -13% in Q2.
Results
| Metric | Q3 2026 | Change | 9M 2026 |
|---|---|---|---|
| Kilowatt-Hour Sales | 60.8B | +7.3% Y/Y, +17% Q/Q | 163B+5% Y/Y |
| Total Retail Sales | 45.7B | +7.7% Y/Y, +20% Q/Q | 120B+3.6% Y/Y |
| Residential | 16.1B | +10.2% Y/Y, +42% Q/Q | 39.6B+2.1% Y/Y |
| Commercial | 16.1B | +10.1% Y/Y, +17% Q/Q | 42.2B+7.4% Y/Y |
| Industrial | 13.3B | +2.5% Y/Y, +5.1% Q/Q | 38.0B+1.4% Y/Y |
| Other | 127M | -6.9% Y/Y, +0.0% Q/Q | 385M-2.3% Y/Y |
| Total Wholesale Sales | 15.1B | +6.2% Y/Y, +9.5% Q/Q | 42.6B+9.2% Y/Y |
| Operating income | $3.00B | +16% Y/Y, +69% Q/Q | $6.79B+6.7% Y/Y |
| Net income | $2.05B | +20% Y/Y, +74% Q/Q | $4.58B+17% Y/Y |
| Diluted EPS | $1.76 | +14% Y/Y, +71% Q/Q | $4.00+13% Y/Y |
What moved the numbers
- Operating revenue was $8.84B, up 13% Y/Y; 9M revenue was $24.2B, up 7.3% Y/Y.
- Weather-adjusted retail electricity sales rose 3.5% Y/Y, including commercial sales up 7.3% and residential sales up 1.3%. Regulated utility customers totaled 9.00M at quarter-end, up 0.7% Y/Y.
- Traditional electric operating companies’ net income was $2.27B, up 18% Y/Y; Georgia Power contributed $1.52B, up 22%. Southern Power earned $52M vs $3M a year earlier.
- Excluding specified items, net income was $2.24B vs GAAP net income attributable to Southern Company of $2.05B; non-GAAP basic EPS was $1.94 vs GAAP basic EPS of $1.77. The largest exclusion was $118M of pretax accelerated depreciation and decommissioning costs from wind-facility repowering ($92M after tax); remaining such costs were projected at ≈$100M in 2026 and $135M in 2027, with projects expected to finish through Q3 2027.
- Average shares outstanding increased to 1.157B from 1.102B, reducing EPS by $0.09.
Figures extracted from the filings and checked against their text; changes and verdicts computed from them.
The summary is written by an AI model reading the filing.
Model 005 · prompt v189 · 2026-11-05 21:19:51Z