Why is Southern Company providing non-GAAP financial measures?

Southern Company provides non-GAAP financial measures to offer investors additional information that helps evaluate the performance of the company's ongoing business activities. Management also uses these measures for performance evaluation.

What types of items are excluded from Southern Company's non-GAAP earnings figures?

The non-GAAP earnings figures exclude items such as charges and credits (net of salvage) related to plants under construction, associated legal expenses (net of insurance), acquisition and disposition impacts, costs related to debt extinguishment, and disallowance charges at Northern Illinois Gas Company.

Where can I find the detailed financial results and performance data?

The detailed financial results, including earnings, EPS analysis, kilowatt-hour sales, customer information, and overall financial overviews, are contained within the exhibits (99.01 through 99.07) attached to this 8-K filing.

SOUTHERN CO 8-K: Earnings & Results

Q: What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report Southern Company's financial results for the three-month and nine-month periods ended September 30, 2023. It includes a press release and supporting financial exhibits.

Summary

Southern Company (SO) filed an 8-K on November 2, 2023, to report its financial results for the three-month and nine-month periods ended September 30, 2023. The filing primarily consists of a press release and accompanying financial exhibits detailing earnings and operational performance. Investors should note that the company is providing both GAAP and non-GAAP financial measures, with the non-GAAP figures excluding certain charges and credits related to plants under construction, acquisition/disposition impacts, debt extinguishment costs, and disallowance charges. Southern Company asserts that these non-GAAP measures offer a clearer view of ongoing business performance, a metric also utilized by management for evaluation. The provided exhibits offer a detailed breakdown of results across its various business segments, including Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas. While the 8-K itself does not contain the specific financial figures, it directs investors to the attached exhibits for comprehensive earnings data, key factors impacting Earnings Per Share (EPS), kilowatt-hour sales, customer data, and overall financial overviews. Investors are encouraged to review these exhibits to gain a full understanding of the company's financial condition and operational results for the reported periods.

Key Highlights

1Southern Company filed an 8-K on November 2, 2023, reporting Q3 2023 and year-to-date financial results.
2The report includes a press release and several financial exhibits (99.01-99.07) detailing performance.
3The company is presenting both Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures.
4Non-GAAP measures exclude specific items such as charges related to plants under construction, acquisition/disposition impacts, debt extinguishment, and disallowance charges.
5Southern Company believes non-GAAP measures provide better insight into ongoing business operations.
6Financial data is broken down by key business segments: Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas.
7Exhibits cover earnings, EPS analysis, factors impacting EPS, kilowatt-hour sales, customer data, and a general financial overview.

SOUTHERN CO 8-K Report, Financial Results (Nov 2, 2023)

Summary

Key Highlights

Frequently Asked Questions