- Certain prior year data may have been reclassified to conform with current year presentation. Electric & Gas Utility Journey Relay Technician, Senior Technical Sales and Production Engineer, Rates and Forecasting Analyst (Electric Utility). ATLANTA, April 30, 2020 /PRNewswire/ -- Southern Company today reported first-quarter 2020 earnings of $868 million, or 82 cents per share, compared with $2.08 billion, or $2.01 per share, in the first quarter of 2019. This decrease was primarily due to lower fuel costs. "Southern Company's strong start to 2020 will be beneficial as we look to overcome sales impacts from the coronavirus," said Chairman, President and CEO Thomas A. Fanning. We’re committed to supporting and improving our communities and environment at the local level and beyond, while conducting business with honesty, integrity and fairness The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company; accordingly, there can be no assurance that such suggested results will be realized. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Southern Company's first quarter earnings slides with supplemental financial information are available at http://investor.southerncompany.com . Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Start a Post » Learn more about posting on Energy Central ». Through its subsidiaries it serves 9 million gas and electric utility customers in 6 states. This site is protected by reCAPTCHA and the Google No discussions yet. "We continue to serve customers safely, employing new work practices that help safeguard both our employees and our communities from COVID-19.". For the three months ended March 31, 2020 and 2019, dilution does not change basic earnings per share by more than $0.02 and is not material. Earnings for the three months ended March 31, 2020 and 2019 include charges, associated legal expenses, and tax impacts related to Mississippi Power Company's integrated coal gasification combined cycle facility project in Kemper County, Mississippi. It was like a family. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful. If this data is unavailable or inaccurate and you own or represent this business. If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. Net Income - Excluding Items (in millions), Estimated Loss on Plants Under Construction, Average Shares Outstanding – (in millions), Basic Earnings Per Share – Excluding Items. Operating revenues for the full year 2019 were $21.42 billion, compared with $23.50 billion in 2018, a decrease of 8.8 percent. Earnings and revenue comparisons to the prior year were significantly impacted by Southern Power Company's dispositions of Plant Nacogdoches on June 13, 2019 and Plant Mankato on January 17, 2020. Corporate Responsibility - Our mission to provide clean, safe, reliable and affordable energy is about more than our bottom line. ATLANTA, April 30, 2020 /PRNewswire/ -- Southern Company today reported first-quarter 2020 earnings of $868 million, or 82 cents per share, compared with $2.08 billion, or $2.01 per share, in the first quarter of 2019. The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other. ", "Critical infrastructure businesses like ours never take a day off," added Fanning. All … Jobs magazine, DiversityInc, Black Enterprise, Fortune's "World's Most Admired Companies" list, Forbes and the Women's Choice Award. "Our top priority remains keeping employees healthy and safe, even as our subsidiaries continue to provide clean, safe, reliable and affordable energy for customers. Start a discussion below. Acquisition and disposition impacts included in earnings for the three months ended March 31, 2020 primarily include a $39 million pre-tax gain ($23 million after-tax) on the sale of Plant Mankato and for the three months ended March 31, 2019 primarily include a preliminary $2.5 billion pre-tax gain ($1.3 billion after tax) on the sale of Gulf Power Company. In short, it has been a rough ride. Project being built on an existing landfill - seems like a good land use opportunity also. The technical argument in this post is incorrect. Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Southern Company's financial analyst call will begin at 1 p.m. Eastern Time today, during which Fanning and Chief Financial Officer Andrew W. Evans will discuss earnings and provide a general business update. Will Utility Stocks Become "Less Boring" In the Future? Southern Nuclear was a great place to work until about 2012. Presenting earnings and earnings per share excluding Wholesale Gas Services provides an additional measure of operating performance that excludes the volatility resulting from mark-to-market and lower of weighted average cost or current market price accounting adjustments. Receive a one-time comprehensive credit report on this company. Use constitutes acceptance of General Website Terms and Conditions | Revised Privacy Statement | Contact Us, Southern Company reports first-quarter 2020 earnings, 2019 Southern Company Annual Meeting of Stockholders, http://investor.southerncompany.com/webcasts, http://www.prnewswire.com/news-releases/southern-company-reports-first-quarter-2020-earnings-301049878.html, Anti-Hedging and Anti-Pledging Provisions. Terms of Service apply. "Southern Company's strong start to 2020 will be beneficial as we look to overcome sales impacts from the coronavirus," said Chairman, President and CEO Thomas A. Fanning. First quarter 2020 operating revenues were $5.02 billion, compared with $5.41 billion for the first quarter of 2019, a decrease of 7.3 percent. Search the Southern Nuclear Operating Company, Inc. business page in Columbia , AL at DandB.com. Most people were local and everyone knew each other and each other's families. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. While there are plenty of places where wind turbines are appropriate, not all are. Shareholders have taken a hit, too, with a number of one-time charges related directly to Vogtle.
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