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Southern Co. (SO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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Southern Co. (SO - Free Report) reported $6.98 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 0.1%. EPS of $1.13 for the same period compares to $0.91 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $7.36 billion, representing a surprise of -5.18%. The company delivered an EPS surprise of +11.88%, with the consensus EPS estimate being $1.01.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Southern Co. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Operating Revenues- Southern Company Natural Gas: $966 million versus $1.05 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -1.3% change.
  • Operating Revenues- Southern Power: $535 million versus $651.2 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2% change.
  • Operating Revenues- Natural Gas revenues: $966 million compared to the $1.05 billion average estimate based on two analysts. The reported number represents a change of -1.3% year over year.
  • Total retail sales: $37.97 billion versus the two-analyst average estimate of $38.19 billion. The reported number represents a year-over-year change of +2.1%.
  • Net Income Available to Common- Southern Power: $-25 million versus $79.78 million estimated by two analysts on average.
  • Net Income Available to Common- Southern Company Gas: $126 million versus the two-analyst average estimate of $142.46 million.

View all Key Company Metrics for Southern Co. here>>>

Shares of Southern Co. have returned +1% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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