Summary
Southern Company (SO) filed an 8-K on February 20, 2020, to report its financial results for the three-month and twelve-month periods ended December 31, 2019. The filing includes a press release and supplemental financial information, which are furnished as exhibits. Notably, the company is providing both GAAP and non-GAAP financial measures, explaining that the non-GAAP figures, which exclude certain items like acquisition impacts, charges related to plants under construction, and specific one-time events, are intended to offer investors a clearer view of ongoing business performance. Management also utilizes these non-GAAP measures for performance evaluation.
Key Highlights
- 1Southern Company released its Q4 and full-year 2019 financial results on February 20, 2020.
- 2The filing includes a press release (Exhibit 99.01) and detailed financial exhibits (99.02-99.07).
- 3The company is presenting both GAAP and non-GAAP earnings and EPS figures.
- 4Non-GAAP measures exclude items such as acquisition/disposition impacts, charges for plants under construction, and specific one-time gains or losses.
- 5Southern Company believes non-GAAP measures enhance the understanding of ongoing business operations for investors and management.
- 6An earnings presentation with 2020 guidance was also posted on the investor relations website.
- 7The filing provides segment information for key subsidiaries including Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
Frequently Asked Questions
The main purpose of this 8-K filing is to officially report Southern Company's financial results for the fourth quarter and full fiscal year ended December 31, 2019, and to furnish supporting documentation such as a press release and financial statements.
Southern Company provides non-GAAP financial measures to offer investors additional insight into the performance of its ongoing business activities by excluding certain items that may not be representative of regular operations, such as acquisition-related costs, impairments, and tax impacts.
The exhibits contain detailed financial highlights, significant factors impacting earnings per share (EPS), EPS analysis, consolidated earnings, kilowatt-hour sales and customer data, and a general financial overview. They also provide segment information for the company's major operating units.
Yes, the filing mentions that an earnings presentation containing earnings guidance for 2020 was posted on Southern Company's investor relations website concurrently with the 8-K filing.