The Southern Company Earnings Call Transcripts
Fiscal Year 2026
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The meeting featured strong financial results, major infrastructure investments, and a 25th consecutive annual dividend increase. All board nominees and company proposals passed with high support, while stockholder proposals on governance, data center costs, and climate due diligence were rejected.
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Q1 2026 adjusted EPS exceeded estimates, driven by strong customer and data center growth, with over 11 GW of large load contracts signed and robust capital investment underway. Rate stability and a $26.5B DOE loan support long-term value and customer savings.
Fiscal Year 2025
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Delivered top-of-guidance EPS and record sales growth in 2025, driven by strong demand from data centers and industrials. Projecting 7–9% annual EPS growth through 2028, supported by a robust capital plan and disciplined contract structures.
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Q3 2025 adjusted EPS exceeded estimates, driven by strong customer and usage growth across all segments. Full-year earnings are expected at the top of guidance, with robust demand from data centers and industrials, and significant progress on capital and equity plans.
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Q2 2025 adjusted EPS exceeded estimates but was down year-over-year, with strong retail sales growth and robust large load demand. The capital plan increased to $76B, driven by new generation needs, and the company remains on track for its long-term EPS growth targets.
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The meeting featured strong financial results, major infrastructure investments, and robust economic growth projections. All company proposals passed, including a dividend increase, while all stockholder proposals were rejected. Strategic focus remains on grid resilience, innovation, and balancing growth with affordability.
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Q1 2025 adjusted EPS exceeded expectations, driven by utility investments and strong commercial/industrial demand, especially from data centers. Dividend was raised for the 24th consecutive year, and the large load pipeline continues to grow, supporting a positive long-term outlook.
Fiscal Year 2024
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Adjusted EPS grew 11% to $4.05 in 2024, driven by strong customer and data center growth. Capital investment is set to rise 30% to $63B over five years, with robust long-term sales and earnings outlooks, despite higher interest rates and regulatory uncertainties.
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Q3 2024 saw solid financial and operational results, with adjusted EPS up year-over-year and strong customer and economic growth, despite $1.1 billion in storm costs from Hurricane Helene. The company projects continued long-term growth, with a robust capital plan and disciplined approach to new opportunities.
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Q2 2024 adjusted EPS was $1.10, up $0.31 year-over-year, driven by strong utility performance and robust Southeast economic growth. Data center demand surged, with long-term load growth projections accelerating, and significant capital investment opportunities emerging.