US utility Southern Co beats Q1 profit estimates on demand boost [Reuters]
Southern Company (The) (SO)
Last southern company (the) earnings: 4/30 06:30 am
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Source: Reuters
recovery following a soft 2023, after customer growth and higher electricity usage drove a first-quarter profit beat. Retail electricity saw robust customer growth, the company said. It added more than 13,000 residential electric customers and over 7,000 residential gas customers. "All our businesses experienced a strong start to 2024 ... this performance was driven by a variety of factors, including investments in our state regulated utilities, weather that was less mild than the first quarter of last year and higher weather-adjusted sales in our electric utilities' commercial customer class," said CEO Christopher Womack. Southern's total retail sales, which include residential, commercial and industrial, were up 5.6% at 35.25 billion KWh for the quarter. Strong commercial sales growth was also driven by increased customer usage and 12% rise in data center sales in the quarter. Utilities are poised to benefit from a in electricity demand driven by data centers used for powe
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SO
Earnings
- 5/2/24 - Beat
SO
Sec Filings
- 5/16/24 - Form 144
- 5/14/24 - Form DEFA14A
- 5/13/24 - Form 4
- SO's page on the SEC website