Summary
Southern Company (SO) reported a decrease in consolidated net income attributable to Southern Company for the second quarter of 2025, falling to $880 million ($0.79 per diluted share) from $1.2 billion ($1.09 per diluted share) in the same period of 2024. Year-to-date, net income attributable to Southern Company was $2.21 billion ($2.00 per diluted share), down from $2.33 billion ($2.12 per diluted share) in the first half of 2024. This decline was primarily driven by higher non-fuel operations and maintenance expenses, increased depreciation and amortization, higher interest expenses, and increased income taxes across its segments. Despite the dip in net income, total operating revenues for the consolidated entity saw an increase, reaching $6.97 billion for the quarter, up from $6.46 billion in the prior year's second quarter. This revenue growth was supported by higher retail electric revenues, driven by rate increases and sales growth, particularly in the commercial and industrial sectors, as well as increased natural gas revenues due to base rate adjustments and higher commodity prices. Southern Power's revenues also saw an increase, largely from higher energy revenues related to increased natural gas prices. The company's significant capital expenditures continue, with a substantial portion allocated to construction programs across its subsidiaries to support future load growth and infrastructure upgrades.
Financial Highlights
39 data points| Revenue | $6.73B |
| Operating Expenses | $5.21B |
| Operating Income | $1.76B |
| Net Income | $853.00M |
| EPS (Basic) | $0.80 |
| EPS (Diluted) | $0.79 |
| Shares Outstanding (Basic) | 1.10B |
| Shares Outstanding (Diluted) | 1.11B |
Key Highlights
- 1Consolidated net income attributable to Southern Company decreased to $880 million in Q2 2025 from $1.2 billion in Q2 2024, with diluted EPS at $0.79 compared to $1.09.
- 2Year-to-date net income attributable to Southern Company was $2.21 billion, down from $2.33 billion in the prior year's period.
- 3Total operating revenues increased to $6.97 billion in Q2 2025 from $6.46 billion in Q2 2024, driven by higher retail electric and natural gas revenues.
- 4Georgia Power's 2022 ARP was extended for an additional three years through December 31, 2028, maintaining its retail ROE set point and range.
- 5Southern Power is developing wind repowering projects and has committed to new development projects, incurring construction costs for these initiatives.
- 6Southern Company Gas' natural gas revenues increased due to base rate increases and higher commodity prices, with gas distribution operations seeing a net income increase in Q2 2025.
- 7Capital expenditures remain significant, with substantial investments in construction programs across subsidiaries, particularly Georgia Power and Alabama Power, for generation, transmission, and distribution facilities.