Back to top

Image: Bigstock

Southern Company (SO) Q1 Earnings In Line, Revenue Miss

Read MoreHide Full Article

In-Line Earnings: Electric utility firm Southern Company (SO - Free Report) reported earnings per share (excluding certain one-time items) of 70 cents, same as the Zacks Consensus Estimate.

Estimate Revision Trend & Surprise History: The Zacks Consensus Estimate for the quarter has been unchanged in the last seven days.

Southern Company has an excellent earnings surprise history. Before Q1, the utility delivered positive surprises in each of the prior four quarters, as shown in the chart below:

Southern Company (The) Price and EPS Surprise

 

Southern Company (The) Price and EPS Surprise | Southern Company (The) Quote

Revenue Came in Lower than Expected: Revenues of $5.4 billion came below the Zacks Consensus Estimate of $5.8 billion.

Key Stats: Southern Company’s total retail sales fell 10.5% as residential and commercial sales both declined. Moreover, industrial sales fell 5% year over year. This brought about a downward movement in overall electricity sales and usage. Total electricity sales during the first quarter were down 11.2% from the same period last year. Meanwhile, total wholesale sales slumped 13.3% year over year.

The power supplier’s operations and maintenance cost decreased 9.6% to $1.3 billion, while the utility’s total operating expense for the period – at $1.7 billion – was down 65.6% from the prior-year level.

Zacks Rank: Currently, Southern Company carries a Zacks Rank #2 (Buy).

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this Southern Company’s earnings report later!

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.

See 7 breakthrough stocks now>>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Southern Company (The) (SO) - free report >>

Published in