Summary
Southern Company (SO) filed an 8-K on November 7, 2018, to provide investors with its earnings results for the third quarter and the first nine months of 2018, ending September 30, 2018. The filing includes a press release and various financial exhibits detailing operational performance and key financial metrics. A significant aspect of the report is the presentation of both GAAP and non-GAAP financial measures, which management utilizes to assess ongoing business performance by excluding certain charges and impacts. Investors should note the focus on adjusted earnings per share, which aims to offer a clearer view of the company's core operational activities by removing one-time items and specific business segment impacts. The included exhibits offer detailed breakdowns of these adjustments, segment performance, and kilowatt-hour sales, providing a comprehensive look at the company's financial condition and operational trends for the period.
Key Highlights
- 1Southern Company released its financial results for the three-month and nine-month periods ended September 30, 2018.
- 2The filing includes a press release and multiple exhibits providing detailed financial information.
- 3The company is presenting both GAAP and non-GAAP financial measures, with a focus on adjusted earnings per share.
- 4Non-GAAP measures exclude items such as charges related to plants under construction, wholesale gas services earnings, and acquisition/disposition impacts.
- 5Specific historical adjustments include charges related to Plant Scherer Unit 3 and the Kemper County project for the nine-month period of 2017.
- 6For the nine-month period of 2018, adjustments include settlement proceeds from the Deepwater Horizon claim and net tax benefits from federal tax reform.
- 7Exhibits provide segment information for key subsidiaries, including Alabama Power, Georgia Power, Gulf Power, Mississippi Power, Southern Power, and Southern Company Gas.