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Southern Company (SO) Q1 Earnings and Sales Beat Estimates
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Power supplier TheSouthern Company (SO - Free Report) reported first-quarter 2017 earnings per share (excluding certain one-time items) of 66 cents, beating the Zacks Consensus Estimate of 58 cents and the year-ago adjusted profit of 58 cents. Increase in revenues improved earnings.
The Atlanta-based utility’s quarterly revenues of $5,771 million was 45.5% higher than the first-quarter 2016 level of $3,965 million and also ahead of the Zacks Consensus Estimate of $5,144 million, driven by robust performance by its wholesale unit.
Sales Report
While wholesale revenues jumped 37%, Southern Company’s total retail sales declined 6.7%, residential and commercial sales were down by 13.4% and 4.5%, respectively. Demand from industrial customers also fell 2.2% from the year-ago period.
Total electricity sales during the first quarter were up 0.5% from the same period last year.
Expenses Break Up
Southern Company’s operations and maintenance cost increased 20% to $1,329 million, while the utility’s total operating expense for the period was $4,465 million, up 46.3% from the prior-year level.
Southern Company (The) Price, Consensus and EPS Surprise
Southern Company under the Zacks categorized Utility - ElectricPower industry is one of the largest generators of electricity in the nation along with the likes of Exelon Corp. (EXC - Free Report) and Duke Energy Corp. (DUK - Free Report) . The company currently carries a Zacks Rank #4(Sell).
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Southern Company (SO) Q1 Earnings and Sales Beat Estimates
Power supplier The Southern Company (SO - Free Report) reported first-quarter 2017 earnings per share (excluding certain one-time items) of 66 cents, beating the Zacks Consensus Estimate of 58 cents and the year-ago adjusted profit of 58 cents. Increase in revenues improved earnings.
The Atlanta-based utility’s quarterly revenues of $5,771 million was 45.5% higher than the first-quarter 2016 level of $3,965 million and also ahead of the Zacks Consensus Estimate of $5,144 million, driven by robust performance by its wholesale unit.
Sales Report
While wholesale revenues jumped 37%, Southern Company’s total retail sales declined 6.7%, residential and commercial sales were down by 13.4% and 4.5%, respectively. Demand from industrial customers also fell 2.2% from the year-ago period.
Total electricity sales during the first quarter were up 0.5% from the same period last year.
Expenses Break Up
Southern Company’s operations and maintenance cost increased 20% to $1,329 million, while the utility’s total operating expense for the period was $4,465 million, up 46.3% from the prior-year level.
Southern Company (The) Price, Consensus and EPS Surprise
Southern Company (The) Price, Consensus and EPS Surprise | Southern Company (The) Quote
Zacks Rank and Key Pick
Southern Company under the Zacks categorized Utility - ElectricPower industry is one of the largest generators of electricity in the nation along with the likes of Exelon Corp. (EXC - Free Report) and Duke Energy Corp. (DUK - Free Report) . The company currently carries a Zacks Rank #4(Sell).
A better-ranked player from the same industry is TransAtlanta Corporation (TAC - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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