ATLANTA, July 29, 2015 /PRNewswire/ -- Southern Company
today reported second-quarter 2015 earnings of $629 million, or 69
cents per share, compared with earnings of $611 million, or 68
cents per share, in the second quarter of 2014. For the six
months ended June 30, 2015, earnings
were $1.14 billion, or $1.25 per share, compared with $962 million, or $1.08 per share, for the same period in 2014.
Earnings for the three and six months ended June 30, 2015, include after-tax charges of
$14 million and $20 million, respectively, related to increased
construction estimates for Mississippi Power's Kemper County
integrated gasification combined-cycle (IGCC) project. Earnings for
the six months ended June 30, 2014,
include an after-tax charge of $235
million, or 26 cents per
share, related to the Kemper County IGCC project. Earnings for the
three and six months ended June 30,
2015, also include a $4
million after-tax charge related to the discontinued
operations of Mirant and the March
2009 settlement agreement with MC Asset Recovery, LLC.
Excluding these items, Southern Company earned $647 million, or 71
cents per share, during the second quarter of 2015, compared
with earnings of $611 million, or
68 cents per share, during the second
quarter of 2014. For the first six months of 2015, excluding these
items, Southern Company earned $1.16
billion, or $1.28 per share,
compared with earnings of $1.20
billion, or $1.34 per share,
for the same period in 2014.
Earnings for the second quarter of 2015 were positively
influenced by retail revenue effects at Southern Company's
traditional operating companies, warmer weather and stronger than
expected performance of its Southern Power subsidiary. Earnings
were negatively influenced by increased non-fuel operations and
maintenance expenses.
"We are encouraged by positive customer growth during the second
quarter of 2015, particularly in the residential sector," said
Southern Company Chairman, President and CEO Thomas A. Fanning. "Also, for the first time
since 2004, we have experienced two consecutive quarters of
weather-normalized growth in all three customer classes –
residential, commercial and industrial – as our region continues to
grow faster than the U.S. as a whole."
Second-quarter 2015 operating revenues were $4.34 billion, compared with $4.47 billion for the second quarter of 2014, a
decrease of 2.9 percent. For the six months ended June 30, 2015, operating revenues were
$8.52 billion, compared with
$9.11 billion for the same period in
2014, a decrease of 6.5 percent.
Kilowatt-hour sales to retail customers in Southern Company's
four-state service area increased 2.2 percent in the second quarter
of 2015, compared with the second quarter of 2014. Residential
energy sales increased 4.6 percent, commercial energy sales
increased 2.3 percent and industrial energy sales increased 0.1
percent. For the first six months of 2015, retail sales increased
0.5 percent, compared with the same period in 2014. Residential
energy sales decreased 0.2 percent, commercial energy sales
increased 0.7 percent and industrial energy sales increased 1.0
percent.
Weather-adjusted kilowatt-hour sales to retail customers in
Southern Company's four-state service area increased 0.7 percent in
the second quarter of 2015, compared with the second quarter of
2014. Weather-adjusted residential energy sales increased 1.2
percent, weather-adjusted commercial energy sales increased 0.7
percent and industrial energy sales increased 0.2 percent. For the
first six months of 2015, weather-adjusted retail sales increased
0.8 percent, compared with the same period in 2014.
Weather-adjusted residential energy sales increased 0.7 percent,
weather-adjusted commercial energy sales increased 0.7 percent and
industrial energy sales increased 1.1 percent.
Total energy sales to Southern Company's customers in the
Southeast, including wholesale sales, increased 2.1 percent in the
second quarter of 2015, compared with the second quarter of 2014.
For the first six months of 2015, total energy sales decreased 0.6
percent, compared with the same period in 2014.
Southern Company's financial analyst call will begin at
1 p.m. Eastern time today, during
which Fanning and Chief Financial Officer Art P. Beattie will discuss earnings and provide
a general business update. Investors, media and the public may
listen to a live webcast of the call and view associated slides at
http://investor.southerncompany.com/webcasts. A replay of the
webcast will be available at the site for 12 months.
Southern Company has also posted on its website detailed
financial information on its second quarter performance. These
materials are available at www.southerncompany.com.
With more than 4.5 million customers and approximately 46,000
megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is
the premier energy company serving the Southeast through its
subsidiaries. A leading U.S. producer of clean, safe, reliable and
affordable electricity, Southern Company owns electric utilities in
four states and a growing competitive generation company, as well
as fiber optics and wireless communications. Southern Company
brands are known for excellent customer service, high reliability
and affordable prices that are below the national average. Through
an industry-leading commitment to innovation, Southern Company and
its subsidiaries are inventing America's energy future by
developing the full portfolio of energy resources, including
nuclear, 21st century coal, natural gas, renewables and energy
efficiency, and creating new products and services for the benefit
of customers. Southern Company has been named by the U.S.
Department of Defense and G.I. Jobs
magazine as a top military employer, listed by Black Enterprise
magazine as one of the 40 Best Companies for Diversity and
designated a 2014 Top Employer for Hispanics by Hispanic Network.
The company earned the 2014 National Award of Nuclear Science and
History by the National Atomic Museum Foundation for its leadership
and commitment to nuclear development, and is continually ranked
among the top utilities in Fortune's annual World's Most
Admired Electric and Gas Utility rankings. Visit our website at
www.southerncompany.com.
|
Southern
Company
|
Financial
Highlights
|
(In Millions of
Dollars Except Earnings Per Share)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June
|
|
Year-to-Date
June
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Consolidated
Earnings–As Reported
|
|
|
|
|
|
|
|
|
(See
Notes)
|
|
|
|
|
|
|
|
|
Traditional
Operating Companies
|
|
$
|
561
|
|
|
$
|
580
|
|
|
$
|
1,038
|
|
|
$
|
899
|
|
Southern
Power
|
|
46
|
|
|
31
|
|
|
79
|
|
|
64
|
|
Total
|
|
607
|
|
|
611
|
|
|
1,117
|
|
|
963
|
|
Parent Company
and Other
|
|
22
|
|
|
—
|
|
|
21
|
|
|
(1)
|
|
Net
Income–As Reported
|
|
$
|
629
|
|
|
$
|
611
|
|
|
$
|
1,138
|
|
|
$
|
962
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings
Per Share
|
|
$
|
0.69
|
|
|
$
|
0.68
|
|
|
$
|
1.25
|
|
|
$
|
1.08
|
|
|
|
|
|
|
|
|
|
|
Average Shares
Outstanding (in millions)
|
|
909
|
|
|
895
|
|
|
910
|
|
|
892
|
|
End of Period
Shares Outstanding (in millions)
|
|
|
|
|
|
908
|
|
|
896
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June
|
|
Year-to-Date
June
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Consolidated
Earnings–Excluding Items
|
|
|
|
|
|
|
|
|
(See
Notes)
|
|
|
|
|
|
|
|
|
Net Income–As
Reported
|
|
$
|
629
|
|
|
$
|
611
|
|
|
$
|
1,138
|
|
|
$
|
962
|
|
Estimated Loss
on Kemper IGCC
|
|
14
|
|
|
—
|
|
|
20
|
|
|
235
|
|
Additional MCAR
settlement costs
|
|
4
|
|
|
—
|
|
|
4
|
|
|
—
|
|
Net
Income–Excluding Items
|
|
$
|
647
|
|
|
$
|
611
|
|
|
$
|
1,162
|
|
|
$
|
1,197
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings
Per Share–Excluding Items
|
|
$
|
0.71
|
|
|
$
|
0.68
|
|
|
$
|
1.28
|
|
|
$
|
1.34
|
|
|
|
|
|
|
|
|
|
|
|
Notes
|
- For the three and
six months ended June 30, 2015 and 2014, dilution does not change
basic earnings per share by more than 1 cent and is not
material.
|
|
- The estimated
probable losses relating to Mississippi Power Company's
construction of the integrated coal gasification combined cycle
facility in Kemper County, Mississippi (Kemper IGCC) significantly
impacted the presentation of earnings and earnings per share for
the three and six months ended June 30, 2015 and the six months
ended June 30, 2014. Similar charges may occur with uncertain
frequency.
|
|
- Earnings for the
three and six months ended June 30, 2015 include additional costs
related to the discontinued operations of Mirant Corporation and
the March 2009 litigation settlement with MC Asset Recovery, LLC.
Further charges are not expected to occur.
|
|
- All figures in this
earnings release are preliminary and remain subject to the
completion of normal quarter-end accounting procedures and
adjustments, which could result in changes to these preliminary
results. In addition, certain classifications and rounding may be
different from final results published in the Form 10-Q.
|
|
Southern
Company
|
Significant
Factors Impacting EPS
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June
|
|
Year-to-Date
June
|
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
Consolidated
Earnings Per Share–
|
|
|
|
|
|
|
|
|
|
|
|
|
As Reported (See
Notes)
|
|
$
|
0.69
|
|
|
$
|
0.68
|
|
|
$
|
0.01
|
|
|
$
|
1.25
|
|
|
$
|
1.08
|
|
|
$
|
0.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Significant
Factors:
|
|
|
|
|
|
|
|
|
|
|
|
|
Traditional
Operating Companies
|
|
|
|
|
|
$
|
(0.02)
|
|
|
|
|
|
|
$
|
0.16
|
|
Southern
Power
|
|
|
|
|
|
0.02
|
|
|
|
|
|
|
0.02
|
|
Parent Company and
Other
|
|
|
|
|
|
0.02
|
|
|
|
|
|
|
0.02
|
|
Increase in
Shares
|
|
|
|
|
|
(0.01)
|
|
|
|
|
|
|
(0.03)
|
|
Total–As
Reported
|
|
|
|
|
|
$
|
0.01
|
|
|
|
|
|
|
$
|
0.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June
|
|
Year-to-Date
June
|
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
Consolidated
Earnings Per Share–
|
|
|
|
|
|
|
|
|
|
|
|
|
Excluding Items
(See Notes)
|
|
$
|
0.71
|
|
|
$
|
0.68
|
|
|
$
|
0.03
|
|
|
$
|
1.28
|
|
|
$
|
1.34
|
|
|
$
|
(0.06)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total–As Reported
|
|
|
|
|
|
$
|
0.01
|
|
|
|
|
|
|
$
|
0.17
|
|
Estimated Loss
on Kemper IGCC
|
|
|
|
|
|
0.02
|
|
|
|
|
|
|
(0.24)
|
|
Additional MCAR
settlement costs
|
|
|
|
|
|
—
|
|
|
|
|
|
|
0.01
|
|
Total–Excluding Items
|
|
|
|
|
|
$
|
0.03
|
|
|
|
|
|
|
$
|
(0.06)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes
|
- For the three and
six months ended June 30, 2015 and 2014, dilution does not change
basic earnings per share by more than 1 cent and is not
material.
|
|
- The estimated
probable losses relating to Mississippi Power Company's
construction of the integrated coal gasification combined cycle
facility in Kemper County, Mississippi (Kemper IGCC) significantly
impacted the presentation of earnings and earnings per share for
the three and six months ended June 30, 2015 and the six months
ended June 30, 2014. Similar charges may occur with uncertain
frequency.
|
|
- Earnings for the
three and six months ended June 30, 2015 include additional costs
related to the discontinued operations of Mirant Corporation and
the March 2009 litigation settlement with MC Asset Recovery, LLC.
Further charges are not expected to occur. These costs were the
same for the three and six months ended June 30, 2015; however,
these costs on a per share basis differ between the periods due to
the effects of rounding.
|
|
- All figures in this
earnings release are preliminary and remain subject to the
completion of normal quarter-end accounting procedures and
adjustments, which could result in changes to these preliminary
results. In addition, certain classifications and rounding may be
different from final results published in the Form 10-Q.
|
|
Southern
Company
|
EPS Earnings
Analysis
|
Three Months Ended
June 2015 vs. June 2014
|
|
|
Cents
|
Description
|
|
|
1¢
|
Retail
Sales
|
|
|
3
|
Retail Revenue
Impacts
|
|
|
3
|
Weather
|
|
|
(1)
|
Wholesale
Operations
|
|
|
(1)
|
Other Operating
Revenues
|
|
|
(5)
|
Non-Fuel
O&M
|
|
|
1
|
Depreciation and
Amortization
|
|
|
(3)
|
Other Income and
Deductions
|
|
|
2
|
Interest
Expense
|
|
|
—¢
|
Total Traditional
Operating Companies
|
|
|
2
|
Southern
Power
|
|
|
2
|
Parent and
Other
|
|
|
(1)
|
Increase in
Shares
|
|
|
3¢
|
Total Change in
QTD EPS (Excluding Items)
|
|
|
(2)
|
Estimated Loss on
Kemper IGCC
|
|
|
1¢
|
Total Change in
QTD EPS (As Reported)
|
|
|
Notes
|
- The estimated
probable losses relating to Mississippi Power Company's
construction of the integrated coal gasification combined cycle
facility in Kemper County, Mississippi (Kemper IGCC) impacted the
presentation of earnings per share for the three months ended June
30, 2015 and any similar charges may occur with uncertain
frequency.
|
|
- All figures in this
earnings release are preliminary and remain subject to the
completion of normal quarter-end accounting procedures and
adjustments, which could result in changes to these preliminary
results. In addition, certain classifications and rounding may be
different from final results published in the Form 10-Q.
|
|
Southern
Company
|
Consolidated
Earnings
|
As
Reported
|
(In Millions of
Dollars)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June
|
|
Year-to-Date
June
|
|
|
2015
|
|
2014
|
|
Change
|
|
2015
|
|
2014
|
|
Change
|
Income
Account-
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
Revenues-
|
|
|
|
|
|
|
|
|
|
|
|
|
Fuel
|
|
$
|
1,130
|
|
|
$
|
1,296
|
|
|
$
|
(166)
|
|
|
$
|
2,218
|
|
|
$
|
2,772
|
|
|
$
|
(554)
|
|
Non-Fuel
|
|
2,584
|
|
|
2,474
|
|
|
110
|
|
|
5,038
|
|
|
4,856
|
|
|
182
|
|
Wholesale
Revenues
|
|
448
|
|
|
515
|
|
|
(67)
|
|
|
915
|
|
|
1,119
|
|
|
(204)
|
|
Other Electric
Revenues
|
|
162
|
|
|
169
|
|
|
(7)
|
|
|
325
|
|
|
334
|
|
|
(9)
|
|
Other
Revenues
|
|
13
|
|
|
13
|
|
|
—
|
|
|
24
|
|
|
30
|
|
|
(6)
|
|
Total
Revenues
|
|
4,337
|
|
|
4,467
|
|
|
(130)
|
|
|
8,520
|
|
|
9,111
|
|
|
(591)
|
|
Fuel and Purchased
Power
|
|
1,371
|
|
|
1,595
|
|
|
(224)
|
|
|
2,727
|
|
|
3,429
|
|
|
(702)
|
|
Non-Fuel O &
M
|
|
1,100
|
|
|
1,019
|
|
|
81
|
|
|
2,222
|
|
|
2,005
|
|
|
217
|
|
Depreciation and
Amortization
|
|
500
|
|
|
504
|
|
|
(4)
|
|
|
987
|
|
|
1,001
|
|
|
(14)
|
|
Taxes Other Than
Income Taxes
|
|
245
|
|
|
246
|
|
|
(1)
|
|
|
497
|
|
|
493
|
|
|
4
|
|
Estimated Loss on
Kemper IGCC
|
|
23
|
|
|
—
|
|
|
23
|
|
|
32
|
|
|
380
|
|
|
(348)
|
|
Total Operating
Expenses
|
|
3,239
|
|
|
3,364
|
|
|
(125)
|
|
|
6,465
|
|
|
7,308
|
|
|
(843)
|
|
Operating
Income
|
|
1,098
|
|
|
1,103
|
|
|
(5)
|
|
|
2,055
|
|
|
1,803
|
|
|
252
|
|
Allowance for Equity
Funds Used During Construction
|
|
39
|
|
|
62
|
|
|
(23)
|
|
|
102
|
|
|
119
|
|
|
(17)
|
|
Interest Expense, Net
of Amounts Capitalized
|
|
180
|
|
|
210
|
|
|
(30)
|
|
|
393
|
|
|
416
|
|
|
(23)
|
|
Other Income
(Expense), net
|
|
(12)
|
|
|
(6)
|
|
|
(6)
|
|
|
(19)
|
|
|
(13)
|
|
|
(6)
|
|
Income
Taxes
|
|
302
|
|
|
321
|
|
|
(19)
|
|
|
576
|
|
|
497
|
|
|
79
|
|
Net
Income
|
|
643
|
|
|
628
|
|
|
15
|
|
|
1,169
|
|
|
996
|
|
|
173
|
|
Dividends on
Preferred and Preference Stock of Subsidiaries
|
|
14
|
|
|
17
|
|
|
(3)
|
|
|
31
|
|
|
34
|
|
|
(3)
|
|
NET INCOME AFTER
DIVIDENDS ON PREFERRED AND PREFERENCE STOCK
|
|
$
|
629
|
|
|
$
|
611
|
|
|
$
|
18
|
|
|
$
|
1,138
|
|
|
$
|
962
|
|
|
$
|
176
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes
|
- Certain prior year
data may have been reclassified to conform with current year
presentation.
|
|
- All figures in this
earnings release are preliminary and remain subject to the
completion of normal quarter-end accounting procedures and
adjustments, which could result in changes to these preliminary
results. In addition, certain classifications and rounding may be
different from final results published in the Form 10-Q.
|
|
Southern
Company
|
Kilowatt-Hour
Sales
|
(In Millions of
KWHs)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June
|
|
Year-to-Date
June
|
As
Reported
|
|
2015
|
|
2014
|
|
Change
|
|
Weather
Adjusted
Change*
|
|
2015
|
|
2014
|
|
Change
|
|
Weather
Adjusted
Change*
|
Kilowatt-Hour
Sales-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Sales
|
|
47,878
|
|
|
46,903
|
|
|
2.1
|
%
|
|
|
|
94,123
|
|
|
94,705
|
|
|
(0.6)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail
Sales-
|
|
40,072
|
|
|
39,198
|
|
|
2.2
|
%
|
|
0.7
|
%
|
|
79,281
|
|
|
78,897
|
|
|
0.5
|
%
|
|
0.8
|
%
|
Residential
|
|
12,548
|
|
|
12,001
|
|
|
4.6
|
%
|
|
1.2
|
%
|
|
26,125
|
|
|
26,175
|
|
|
(0.2)
|
%
|
|
0.7
|
%
|
Commercial
|
|
13,654
|
|
|
13,343
|
|
|
2.3
|
%
|
|
0.7
|
%
|
|
26,069
|
|
|
25,891
|
|
|
0.7
|
%
|
|
0.7
|
%
|
Industrial
|
|
13,645
|
|
|
13,629
|
|
|
0.1
|
%
|
|
0.2
|
%
|
|
26,633
|
|
|
26,378
|
|
|
1.0
|
%
|
|
1.1
|
%
|
Other
|
|
225
|
|
|
225
|
|
|
(0.3)
|
%
|
|
(0.4)
|
%
|
|
454
|
|
|
453
|
|
|
0.2
|
%
|
|
0.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Wholesale
Sales
|
|
7,806
|
|
|
7,705
|
|
|
1.3
|
%
|
|
N/A
|
|
|
14,842
|
|
|
15,808
|
|
|
(6.1)
|
%
|
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note
|
*Also reflects
adjustment of 2014 KWH sales consistent with Mississippi Power's
updated methodology to estimate the unbilled revenue allocation
among customer classes implemented in the first quarter
2015.
|
|
Southern
Company
|
Financial
Overview
|
As
Reported
|
(In Millions of
Dollars)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June
|
|
Year-to-Date
June
|
|
|
2015
|
|
2014
|
|
% Change
|
|
2015
|
|
2014
|
|
% Change
|
Consolidated
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Revenues
|
|
$
|
4,337
|
|
|
$
|
4,467
|
|
|
(2.9)
|
%
|
|
$
|
8,520
|
|
|
$
|
9,111
|
|
|
(6.5)
|
%
|
Earnings Before
Income Taxes
|
|
945
|
|
|
949
|
|
|
(0.4)
|
%
|
|
1,745
|
|
|
1,493
|
|
|
16.9
|
%
|
Net Income Available
to Common
|
|
629
|
|
|
611
|
|
|
2.9
|
%
|
|
1,138
|
|
|
962
|
|
|
18.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alabama Power
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Revenues
|
|
$
|
1,455
|
|
|
$
|
1,437
|
|
|
1.3
|
%
|
|
$
|
2,856
|
|
|
$
|
2,945
|
|
|
(3.0)
|
%
|
Earnings Before
Income Taxes
|
|
329
|
|
|
302
|
|
|
8.9
|
%
|
|
621
|
|
|
626
|
|
|
(0.8)
|
%
|
Net Income Available
to Common
|
|
200
|
|
|
173
|
|
|
15.6
|
%
|
|
369
|
|
|
360
|
|
|
2.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia Power
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Revenues
|
|
$
|
2,016
|
|
|
$
|
2,186
|
|
|
(7.8)
|
%
|
|
$
|
3,994
|
|
|
$
|
4,455
|
|
|
(10.3)
|
%
|
Earnings Before
Income Taxes
|
|
462
|
|
|
493
|
|
|
(6.3)
|
%
|
|
842
|
|
|
929
|
|
|
(9.4)
|
%
|
Net Income Available
to Common
|
|
277
|
|
|
311
|
|
|
(10.9)
|
%
|
|
513
|
|
|
577
|
|
|
(11.1)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gulf Power
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Revenues
|
|
$
|
384
|
|
|
$
|
384
|
|
|
—
|
%
|
|
$
|
741
|
|
|
$
|
791
|
|
|
(6.3)
|
%
|
Earnings Before
Income Taxes
|
|
59
|
|
|
58
|
|
|
1.7
|
%
|
|
121
|
|
|
120
|
|
|
0.8
|
%
|
Net Income Available
to Common
|
|
35
|
|
|
34
|
|
|
2.9
|
%
|
|
72
|
|
|
71
|
|
|
1.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mississippi Power
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Revenues
|
|
$
|
275
|
|
|
$
|
311
|
|
|
(11.6)
|
%
|
|
$
|
552
|
|
|
$
|
642
|
|
|
(14.0)
|
%
|
Earnings (Loss)
Before Income Taxes
|
|
66
|
|
|
79
|
|
|
(16.5)
|
%
|
|
105
|
|
|
(223)
|
|
|
N/M
|
|
Net Income (Loss)
Available to Common
|
|
49
|
|
|
62
|
|
|
(21.0)
|
%
|
|
84
|
|
|
(110)
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southern Power
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Revenues
|
|
$
|
337
|
|
|
$
|
329
|
|
|
2.4
|
%
|
|
$
|
684
|
|
|
$
|
680
|
|
|
0.6
|
%
|
Earnings Before
Income Taxes
|
|
53
|
|
|
29
|
|
|
82.8
|
%
|
|
98
|
|
|
66
|
|
|
48.5
|
%
|
Net Income Available
to Common
|
|
46
|
|
|
31
|
|
|
48.4
|
%
|
|
79
|
|
|
64
|
|
|
23.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/M - not
meaningful
|
|
Note
|
- All figures in this
earnings release are preliminary and remain subject to the
completion of normal quarter-end accounting procedures and
adjustments, which could result in changes to these preliminary
results. In addition, certain classifications and rounding may be
different from final results published in the Form 10-Q.
|
Logo - http://photos.prnewswire.com/prnh/20080801/SOCOLOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/southern-company-reports-second-quarter-earnings-300120275.html
SOURCE Southern Company