Summary
Southern Company (SO) operates as a holding company with its primary business focused on electricity sales through its four traditional operating companies and Southern Power Company. The filing details the company's diverse operations, including generation, transmission, and distribution of electricity across Alabama, Georgia, Florida, and Mississippi. Southern Power specifically engages in wholesale electricity sales at market-based rates, with a growing portfolio of renewable energy projects. A significant development highlighted is Southern Company's August 2015 merger agreement to acquire AGL Resources, a natural gas distribution company, a move that will expand its energy services footprint into the natural gas sector. The report also details ongoing construction programs, including the significant investments in Plant Vogtle Units 3 and 4 and the Kemper IGCC project, which present both opportunities and risks related to cost overruns and regulatory approvals. The company's financial performance in 2015 showed an increase in net income compared to the previous year, primarily driven by rate increases at its operating companies and a reduction in charges related to the Kemper IGCC project.
Financial Highlights
47 data points| Revenue | $17.49B |
| Operating Expenses | $13.21B |
| Operating Income | $4.28B |
| Net Income | $2.44B |
| EPS (Basic) | $2.60 |
| EPS (Diluted) | $2.59 |
| Shares Outstanding (Basic) | 910.00M |
| Shares Outstanding (Diluted) | 914.00M |
Key Highlights
- 1Southern Company is a major utility holding company with operations in four Southeastern states through its traditional operating companies (Alabama Power, Georgia Power, Gulf Power, Mississippi Power) and Southern Power Company, which focuses on wholesale electricity sales and renewables.
- 2The company is undergoing a significant strategic expansion through its proposed acquisition of AGL Resources, which will add natural gas distribution to its portfolio.
- 3Major construction projects, notably Plant Vogtle Units 3 & 4 and the Kemper IGCC, are underway and represent substantial capital investments with associated risks of cost overruns and project delays.
- 4Southern Company's financial results for 2015 showed an increase in net income, benefiting from rate increases at its operating subsidiaries and a reduction in charges related to the Kemper IGCC project.
- 5The company emphasizes customer satisfaction, plant availability, and system reliability as key performance indicators.
- 6Environmental regulations and compliance costs remain a significant focus, with substantial capital expenditures planned for emissions controls and CCR facility management.