Summary
Southern Company (SO) filed an 8-K on October 27, 2022, to furnish information regarding its financial results for the three-month and nine-month periods ended September 30, 2022. The report primarily includes a press release and related financial exhibits, detailing both GAAP and non-GAAP financial measures. Investors should note that the company provides adjusted earnings and earnings per share figures, excluding certain charges, credits, and acquisition/disposition impacts, which management uses for evaluating ongoing business performance. These non-GAAP measures are intended to offer additional insights beyond standard GAAP reporting, though they are not a substitute for GAAP-based financial statements.
Key Highlights
- 1Southern Company furnished its financial results for Q3 and the first nine months of 2022 via an 8-K filing on October 27, 2022.
- 2The filing includes a press release and several exhibits (99.01-99.07) containing detailed financial information.
- 3The company presented both GAAP and non-GAAP financial measures, focusing on earnings and earnings per share (EPS).
- 4Non-GAAP EPS excludes specific items like charges related to plants under construction, acquisition/disposition impacts, and in prior periods, specific business unit earnings and impairment charges.
- 5Southern Company management utilizes these non-GAAP measures to assess the performance of its ongoing business operations.
- 6The filing also includes segment information for key subsidiaries such as Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
- 7Kilowatt-hour sales and customer data for the periods are also provided within the furnished exhibits.
Frequently Asked Questions
The main purpose of this 8-K filing is to publicly share Southern Company's financial results and operational highlights for the third quarter and the first nine months of 2022, as of September 30, 2022. It includes a press release and supporting financial exhibits.
The key non-GAAP measures presented are adjusted earnings and adjusted earnings per share (EPS). Southern Company uses these to provide investors with a clearer view of the performance of its ongoing business activities by excluding certain one-time or specific charges and credits, such as those related to plants under construction or acquisition/disposition impacts.
This 8-K filing primarily furnishes a press release and supplemental financial information (Exhibits 99.01-99.07). For the full, audited financial statements prepared in accordance with GAAP, investors should refer to Southern Company's subsequent Form 10-Q filing for the third quarter of 2022 or its latest Form 10-K.
Yes, the provided exhibits include business segment information for Southern Company's key operating subsidiaries: Alabama Power Company, Georgia Power Company, Mississippi Power Company, Southern Power Company, and Southern Company Gas.