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Exelon Corporation (EXC) - free report >>
Southern Company (The) (SO) - free report >>
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Southern Company (SO) Q3 Earnings Top on Wholesale Unit
Power supplier Southern Company (SO - Free Report) reported third-quarter 2016 earnings per share (excluding certain one-time items) of $1.28, ahead of the Zacks Consensus Estimate and the year-ago adjusted profit of $1.17.
The strong numbers can be attributed to robust performance from its wholesale unit and favorable weather conditions.
The Atlanta-based utility’s quarterly revenue – at $6,264 million – came 16% higher than the third-quarter 2015 level of $5,401 million and was also ahead of the Zacks Consensus Estimate of $6,036.4 million.
Overall Sales Breakup
While wholesale sales jumped 18%, Southern Company’s retail electricity demand also increased amid warmer-than-normal weather conditions. This brought about an upward movement in overall electricity sales and usage. In fact, total electricity sales during the third quarter was up 5.7% from the same period last year.
Southern Company’s total retail sales rose 3.2%, with residential and commercial sales up by 8.9% and 3.4%, respectively. However, demand from industrial customers fell 3.3% from the year-ago period
Expenses Summary
Southern Company’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.
SOUTHERN CO Price, Consensus and EPS Surprise
SOUTHERN CO Price, Consensus and EPS Surprise | SOUTHERN CO Quote
Zacks Rank & Stock Picks
Southern Company – 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) – currently retains a Zacks Rank #3 (Hold).
A better-ranked player from the same industry would be DTE Energy Company (DTE - Free Report) . This Zacks Rank #1 (Strong Buy) stock offers excellent value and is worth buying now. You can see the complete list of today’s Zacks #1 Rank stocks here.
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