Southern Co. Logs Flat Sales as Fuel Revenue Falls

Dow Jones
07/30
 

Southern Co. recorded higher profit and flat sales after fuel revenue slid in the second quarter.

The utilities and energy company on Thursday posted a profit of $1.17 billion, or $1.03 a share, compared with $880 million, or 80 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.13, ahead of the $1.01 anticipated by analysts, according to FactSet.

Revenue was roughly flat at $6.98 billion. Analysts surveyed by FactSet had forecast revenue of $7.23 billion.

Revenue from fuel fell 6% to $1.06 billion, while non-fuel sales were up 2%. Wholesale and other electric revenues rose, while natural gas sales fell.

 
 

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