Summary
Southern Company (SO) filed an 8-K on November 4, 2021, to report its financial results for the three-month and nine-month periods ended September 30, 2021. The filing primarily contains a press release and supporting financial exhibits detailing the company's performance. Investors should note that Southern Company provides both GAAP and non-GAAP financial measures, with the non-GAAP figures excluding specific charges related to construction projects, wholesale gas services, acquisition/disposition impacts, and impairments on certain investments. The company asserts that these adjusted measures offer a clearer view of ongoing business operations and are used by management for performance evaluation.
Key Highlights
- 1Southern Company released its Q3 2021 and year-to-date financial results via an 8-K filing on November 4, 2021.
- 2The filing includes a press release and several exhibits presenting financial performance for the periods ending September 30, 2021.
- 3The company presented both GAAP and non-GAAP earnings per share (EPS) figures.
- 4Non-GAAP EPS excludes charges related to plants under construction, wholesale gas services earnings, and impacts from acquisitions/dispositions and impairments.
- 5Southern Company believes these non-GAAP measures provide useful insights into the performance of its ongoing business activities.
- 6The filing also contains segment information for its key operating subsidiaries: Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
- 7Exhibits include detailed financial highlights, factors impacting EPS, EPS earnings analysis, consolidated earnings, sales data, and a financial overview.
Frequently Asked Questions
This 8-K reports Southern Company's financial results for the three-month and nine-month periods ended September 30, 2021. The details are primarily found in the press release and supporting financial exhibits that were filed with the report.
Southern Company reports non-GAAP financial measures to provide investors with additional information that management believes is useful for evaluating the performance of the company's ongoing business activities. These measures exclude certain items like charges related to construction projects, wholesale gas services, acquisition/disposition impacts, and impairments.
The non-GAAP EPS figures exclude charges (net of salvage and insurance) related to plants under construction, earnings from the Wholesale Gas Services business, acquisition and disposition impacts, and impairment charges associated with investments in a gas pipeline project and leveraged leases.
The 8-K filing lists several exhibits (99.01 through 99.07) that provide more granular details, including a full press release, financial highlights, analysis of factors impacting EPS, consolidated earnings, kilowatt-hour sales, customer data, and a financial overview. These exhibits offer a comprehensive look at the reported financial period.