8-KEarnings & Results

SOUTHERN CO 8-K Report, Financial Results (Aug 1, 2024)

Filed August 1, 2024For Securities:SOSOJESOJFSOJCSOJDSOMN

Summary

Southern Company (SO) has filed an 8-K report on August 1, 2024, to announce its financial results for the three-month and six-month periods ended June 30, 2024. The filing primarily references a press release (Exhibit 99) which provides these earnings details. Investors should note that the press release includes both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. The non-GAAP figures are presented to offer a clearer view of ongoing business operations by excluding certain charges and credits related to plants under construction, debt extinguishment costs at Southern Company in the prior year period, and a disallowance charge at Northern Illinois Gas Company. Southern Company utilizes these non-GAAP measures internally for performance evaluation and believes they are valuable for investors seeking to assess the company's core business performance.

Key Highlights

  • 1Southern Company released its financial results for the periods ending June 30, 2024.
  • 2The 8-K filing incorporates a press release (Exhibit 99) containing detailed financial information.
  • 3Both GAAP and non-GAAP financial measures are provided in the press release.
  • 4Non-GAAP measures exclude items such as construction-related charges, debt extinguishment costs (prior year), and disallowance charges.
  • 5The company states that non-GAAP measures are intended to provide insight into ongoing business activities and performance.
  • 6Exhibit 99 includes business segment information for key subsidiaries like Alabama Power, Georgia Power, and Southern Company Gas.
  • 7The filing also includes an interactive data file (XBRL) for enhanced data accessibility.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Southern Company's financial results for the three-month and six-month periods ended June 30, 2024, by referencing a press release (Exhibit 99) that contains these details.

GAAP measures are prepared according to Generally Accepted Accounting Principles. Non-GAAP measures, as presented by Southern Company, exclude specific items like charges related to plants under construction, prior year debt extinguishment costs, and disallowance charges. The company believes these exclusions help investors better evaluate the performance of its ongoing business operations.

No, Southern Company explicitly states that the presentation of non-GAAP financial measures is not meant to be considered a substitute for financial measures prepared in accordance with GAAP. They are intended to provide additional information for investors.

Exhibit 99 of the filing includes business segment information for Alabama Power Company, Georgia Power Company, Mississippi Power Company, Southern Power Company, and Southern Company Gas.