Southern Co. Logs Flat Sales as Fuel Revenue Falls
Dow Jones
Jul 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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