Wed, Feb. 4, 2:18 PM
- Southern Co. (SO -2%) drops sharply after management says during its earnings call that it sees Q1 2015 EPS of $0.55 and full-year 2015 EPS of $2.76-$2.88, below consensus estimates of $0.59 and $2.87, respectively.
- SO reported earlier that its Q4 earnings matched analysts' projections while its revenues easily beat them, as it enjoyed positive retail revenue effects at its traditional operating companies that were offset by an 11% increase in maintenance and operating expenses to $3.46B.
- Q4 residential energy kilowatt-hour sales and commercial energy sales fell slightly, but industrial energy sales and total energy sales rose.
- Unadjusted results included a $43M loss related to the delayed clean coal plant project in Kemper County, Miss., whose costs had grown to $6.13B through November.
- CEO Tom Fanning says the company will hold off on pushing for a new nuclear power project until it resolves issues in the delayed nuclear expansion of Plant Vogtle in Georgia.
Wed, Feb. 4, 7:32 AM
Tue, Feb. 3, 5:30 PM
Oct. 29, 2014, 7:32 AM
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Apr. 30, 2014, 8:29 AM
- Southern Co. (SO) +1% premarket as Q1 earnings surge, as revenues jumped 19% Y/Y thanks to colder than normal winter weather.
- The results include a $235M charge related to an increased construction estimate for SO's Kemper clean coal project, compared with $333M in similar costs in the year-ago quarter.
- SO says it is delaying the startup of the Kemper plant to H1 2015, a year later than originally planned; SO's results have been hurt consistently by charges to the clean coal power project, and it has previously taken $729M in charges related to more than $1B in cost overruns.
Apr. 30, 2014, 7:31 AM
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Jan. 29, 2014, 9:19 AM
- Southern Company (SO +0.5%) net profit +8.1% to $414M, boosted by stronger economic growth and "closer-to-normal weather" vs a year earlier.
- Total retail sales volume +3.3% to $16.54B, with rises in residential and industrial sales helping to overcome a small drop in commercial energy.
- Puts back expected completion date of the highly expensive Kemper County clean-coal power project in Mississippi to the end of the year from a previous target of May.
- Previous (PR)
Jan. 29, 2014, 7:32 AM
Jan. 29, 2014, 12:05 AM
Jan. 28, 2014, 5:30 PM
Oct. 30, 2013, 8:59 AM
- Southern Co.'s (SO) Q3 earnings fell 12% Y/Y as it posted a $93M charge related to additional cost overruns and construction delays at its clean coal power project in Kemper County, Miss.
- The latest hit to the bottom line brings total shareholder charges to $1.14B for the plant; the overall price tag for the project was raised by $243M to ~$5B, making it possibly the most expensive fossil-fuel power plant ever built in the U.S.
- Q3 results also were negatively influenced by cooler-than-normal temperatures and unusually heavy rainfall.
- SO -0.5% premarket.
Oct. 30, 2013, 7:34 AM
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