- Southern Co. (NYSE:SO) -0.6% premarket after Q1 earnings and revenues fall short of estimates, but the utility reports it took a smaller hit from its delayed Kemper County plant project.
- SO took a $6M after-tax charge related to Kemper construction delays in the latest quarter, but the charge was $235M a year ago; meanwhile, SO says some Vogtle nuclear units have been delayed 4-5 more years.
- Q1 residential energy sales fell 4.2% while commercial sales slipped 1.1%, primarily because of milder winter weather.
- "The capital intensity of our backlog is roughly 3x normal... we could see more capital investment in the southeast," CEO Tom Fanning tells CNBC.