Summary
This SEC Form 8-K filing by Southern Company (SO) on October 29, 2014, primarily serves to announce the company's earnings results for the third quarter and the first nine months of 2014. Investors should note that Southern Company is providing both Generally Accepted Accounting Principles (GAAP) reported figures and non-GAAP adjusted figures. The non-GAAP figures exclude significant charges related to the Kemper County integrated coal gasification combined cycle (IGCC) facility under construction by Mississippi Power Company, as well as a charge from a leveraged lease investment restructuring in the prior year's nine-month period. The company's management believes these adjusted figures offer a clearer view of the ongoing business performance by isolating the impact of these substantial, and in the case of Kemper IGCC, potentially recurring but uncertain, charges. Investors are encouraged to review these adjusted results alongside the GAAP figures to gain a comprehensive understanding of Southern Company's financial health and operational trends, paying close attention to the factors influencing earnings per share (EPS).
Key Highlights
- 1Southern Company released its financial results for the periods ending September 30, 2014.
- 2The filing includes both GAAP and non-GAAP financial measures.
- 3Non-GAAP results exclude charges related to the Kemper IGCC facility construction by Mississippi Power Company.
- 4Non-GAAP results also exclude a restructuring charge from a leveraged lease investment in the prior year's nine-month period.
- 5Management uses adjusted earnings to assess ongoing business performance.
- 6Detailed financial information is provided in various exhibits, including financial highlights, EPS analysis, and segment information.
- 7The filing also includes information on Kilowatt-Hour Sales.