What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report Southern Company's financial results for the three-month and nine-month periods ended September 30, 2019. It directs investors to a press release and various exhibits containing detailed financial information and performance metrics.

What kind of financial measures does Southern Company provide in this filing?

Southern Company provides both financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The non-GAAP measures are adjusted to exclude certain items that management believes do not reflect the ongoing performance of the company's business activities.

What specific items are excluded when calculating Southern Company's non-GAAP earnings?

Exclusions for non-GAAP earnings can vary slightly by period but generally include acquisition, disposition, and integration impacts; charges related to plants under construction; earnings from the Wholesale Gas Services business; and specific one-time items such as impairment charges on natural gas storage facilities or proceeds from past settlements and tax benefits from tax reform legislation.

Are the non-GAAP financial measures presented in this filing considered a substitute for GAAP measures?

No, Southern Company explicitly states that the presentation of non-GAAP financial measures is not meant to be considered a substitute for financial measures prepared in accordance with GAAP. They are intended to provide investors with additional information to evaluate the performance of the company's ongoing business activities.

SOUTHERN CO 8-K: Earnings & Results

Summary

Southern Company (SO) filed an 8-K on October 30, 2019, to report its financial results for the three-month and nine-month periods ended September 30, 2019. The filing primarily directs investors to a press release and accompanying financial statements (Exhibits 99.01-99.07) for detailed performance information. These exhibits include both GAAP and non-GAAP financial measures, with the company providing adjusted earnings and EPS figures to offer a clearer view of ongoing operational performance by excluding certain items like acquisition/disposition impacts, charges related to plants under construction, and specific one-time charges or benefits. Investors should review the furnished exhibits for a comprehensive understanding of Southern Company's financial condition and operational results. The use of non-GAAP measures, while providing additional insights into core business activities, should be considered alongside the GAAP figures, as the company itself notes these are not substitutes for GAAP reporting. The filing also provides segment-level data for key subsidiaries, offering a more granular look at performance across the Southern Company utility portfolio.

Key Highlights

1Southern Company released its Q3 and year-to-date 2019 financial results on October 30, 2019, via an 8-K filing.
2The filing includes both GAAP and non-GAAP financial metrics, with a focus on adjusted earnings and EPS.
3Non-GAAP adjustments exclude items such as acquisition/disposition impacts, construction charges, and specific one-time items like impairment charges.
4The company believes these non-GAAP measures provide a better view of ongoing business performance.
5Detailed financial information, including segment data for major subsidiaries like Alabama Power and Georgia Power, is provided in the attached exhibits.
6Investors are cautioned that non-GAAP measures are supplementary and not a replacement for GAAP reporting.

SOUTHERN CO 8-K Report, Financial Results (Oct 30, 2019)

Summary

Key Highlights

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