Summary
Southern Company (SO) filed an 8-K on April 29, 2021, to report on its financial and operational results for the three months ended March 31, 2021. The filing primarily consists of a press release and supporting financial exhibits that detail the company's performance. A key focus of the report is the presentation of both Generally Accepted Accounting Principles (GAAP) and non-GAAP earnings per share (EPS) to provide investors with a clearer view of ongoing business operations. The company has provided adjusted EPS figures that exclude specific items such as charges related to plants under construction, legal expenses, and impacts from the Wholesale Gas Services business and prior acquisition/disposition activities. Southern Company states that these non-GAAP measures are used by management and believed to be useful for investors to evaluate the performance of its core, ongoing business activities, offering a potentially more comparable view across periods.
Key Highlights
- 1Southern Company reported its Q1 2021 financial results on April 29, 2021.
- 2The 8-K filing includes a press release and several financial exhibits (99.01-99.07) detailing the results.
- 3The company presented both GAAP and non-GAAP earnings per share (EPS) for the quarter.
- 4Non-GAAP EPS excludes charges related to plants under construction, legal expenses, Wholesale Gas Services impacts, and prior acquisition/disposition impacts.
- 5Southern Company asserts that these non-GAAP measures offer investors a better view of ongoing business operations.
- 6Exhibits provide segment information for key subsidiaries including Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
- 7Kilowatt-hour sales and customer data are also included in the furnished exhibits.