Summary
Southern Company (SO) filed an 8-K on October 29, 2020, to report its financial results for the three-month and nine-month periods ending September 30, 2020. The filing primarily consists of a press release and supporting financial exhibits detailing earnings, earnings per share (EPS), and segment information. Investors should note that the company is presenting both GAAP and non-GAAP financial measures, highlighting that these non-GAAP figures exclude certain charges, legal expenses, tax impacts related to plants under construction, and earnings from Wholesale Gas Services, as well as acquisition/disposition impacts and impairment charges for specific periods. Southern Company asserts that these non-GAAP measures offer a clearer view of ongoing business performance and are used by management for evaluation.
Key Highlights
- 1Southern Company released its third-quarter and year-to-date 2020 financial results via an 8-K filing.
- 2The filing includes a press release and several exhibits containing detailed financial information.
- 3The company is presenting both GAAP and non-GAAP financial measures for earnings and EPS.
- 4Non-GAAP measures exclude specific items such as charges related to plants under construction, legal expenses, and wholesale gas services earnings.
- 5Exclusions also include acquisition/disposition impacts and impairment charges for certain periods.
- 6Southern Company states that non-GAAP measures are intended to provide investors with better insight into ongoing business operations.
- 7The filing includes segment information for key subsidiaries: Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.