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Southern Company (SO) Q3 Earnings, Revenue Beat Estimates
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Have you been eager to see how Southern Company (SO - Free Report) – one of the largest utilities in the U.S. – performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Atlanta, GA-based utility’s earnings release this morning:
About Southern Company: Through its eleven electric and natural gas distribution units in nine states, Southern Company serves approximately nine million customers. It boasts of a generating capacity of 44,000 megawatts, around 200,000 miles of electric transmission and distribution lines, and more than 80,000 miles of natural gas pipelines. Southern Company’s operations include wholesale electricity generation and natural gas services, retail energy services and natural gas storage operations throughout the country.
Coming to earnings surprise history, the company has an excellent record: its beaten estimates in each of the last four quarters resulting in an average positive surprise of 5.58%.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Southern Company depicted optimism prior to the earnings release. The Zacks Consensus Estimate rose 8% over the last 30 days.
We have highlighted some of the key details from the just-released announcement below:
A Higher-than-Expected Profit: Earnings per share (excluding certain one-time items) came in at $1.28, ahead of the Zacks Consensus Estimate of $1.17.
Revenue Came in Higher than Expected: Revenues of $6,264 million were ahead of the Zacks Consensus Estimate of $6,036.4 million.
Key Stats: Southern Company’s total retail sales rose 3.2%, with residential and commercial sales both improving. This brought about an upward movement in overall electricity sales and usage. Total electricity sales during the third quarter jumped 5.7% from the same period last year. However, industrial sales fell 3.3% year-over-year.
The power supplier’s operations and maintenance cost increased 29% to $1,411 million, while the utility’s total operating expense for the period – at $4,322 million – was up 15% from the prior-year level.
Check back later for our full write up on this Southern Company earnings report later!
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Southern Company (SO) Q3 Earnings, Revenue Beat Estimates
Have you been eager to see how Southern Company (SO - Free Report) – one of the largest utilities in the U.S. – performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Atlanta, GA-based utility’s earnings release this morning:
About Southern Company: Through its eleven electric and natural gas distribution units in nine states, Southern Company serves approximately nine million customers. It boasts of a generating capacity of 44,000 megawatts, around 200,000 miles of electric transmission and distribution lines, and more than 80,000 miles of natural gas pipelines. Southern Company’s operations include wholesale electricity generation and natural gas services, retail energy services and natural gas storage operations throughout the country.
Zacks Rank & Surprise History: Currently, Southern Company has a Zacks Rank #3 (Hold) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has an excellent record: its beaten estimates in each of the last four quarters resulting in an average positive surprise of 5.58%.
SOUTHERN CO Price and EPS Surprise
SOUTHERN CO Price and EPS Surprise | SOUTHERN CO Quote
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Southern Company depicted optimism prior to the earnings release. The Zacks Consensus Estimate rose 8% over the last 30 days.
We have highlighted some of the key details from the just-released announcement below:
A Higher-than-Expected Profit: Earnings per share (excluding certain one-time items) came in at $1.28, ahead of the Zacks Consensus Estimate of $1.17.
Revenue Came in Higher than Expected: Revenues of $6,264 million were ahead of the Zacks Consensus Estimate of $6,036.4 million.
Key Stats: Southern Company’s total retail sales rose 3.2%, with residential and commercial sales both improving. This brought about an upward movement in overall electricity sales and usage. Total electricity sales during the third quarter jumped 5.7% from the same period last year. However, industrial sales fell 3.3% year-over-year.
The power supplier’s operations and maintenance cost increased 29% to $1,411 million, while the utility’s total operating expense for the period – at $4,322 million – was up 15% from the prior-year level.
Check back later for our full write up on this Southern Company earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>