Southern - SO STOCK NEWS

Southern Company (SO) reported Q4 2024 earnings of $534 million ($0.49 per share), down from $855 million ($0.78 per share) in Q4 2023. However, full-year 2024 earnings increased to $4.4 billion ($4.02 per share) from $4.0 billion ($3.64 per share) in 2023.

Operating revenues showed positive growth, with Q4 2024 revenues reaching $6.3 billion, up 4.9% from Q4 2023. Full-year 2024 revenues increased 5.8% to $26.7 billion compared to $25.3 billion in 2023.

The company's adjusted earnings growth was driven by higher utility revenues, partially offset by increased non-fuel operations and maintenance expenses, interest expense, depreciation and amortization, and income taxes.

Southern Company has announced the election of Jimmy Etheredge as an independent director, effective April 1, 2025. Etheredge brings significant leadership experience, having served as CEO of Accenture North America from September 2019 to August 2023, where he led an 80,000-member team.

Prior to his CEO role, Etheredge was Senior Managing Director of US Southeast at Accenture from December 2016 to September 2019. His career at Accenture began in 1985, becoming a partner in 1997 and an executive partner in 2011. Throughout his tenure, he has advised utilities industry clients both domestically and internationally.

A Georgia Tech graduate with a B.S. in Industrial Engineering, Etheredge currently serves on multiple boards, including the Federal Reserve Bank of Atlanta as deputy chair, Encora Digital , and various non-profit organizations.

Georgia Power has filed its 2025 Integrated Resource Plan (IRP) detailing strategies to meet growing energy demands in Georgia. The company projects approximately 8,200 megawatts (MW) of electrical load growth over the next six years, with a 2,200 MW increase by 2030 compared to 2023 projections.

Key proposals include: power uprates at Plants Hatch and Vogtle adding 112 MW of carbon-free energy; upgrades to Plant McIntosh adding 268 MW capacity; extended operation of coal and natural gas units through 2034; modernization of 9 hydroelectric plants; and procurement of 4,000 MW of renewable resources by 2035, expanding the renewable portfolio to approximately 11,000 MW.

The plan also includes transmission improvements across 1,000+ miles of lines and enhanced customer programs focusing on energy efficiency and income-qualified assistance.

Alabama Power, a subsidiary of Southern Company (NYSE: SO), announced its Alabama Business Charitable Trust will provide $250,000 in emergency bill assistance to help Alabamians affected by Winter Storms Cora and Enzo. This funding is additional to the Trust's annual $1 million energy bill assistance support.

The emergency funds will be distributed through community action agencies and Project Share, in partnership with the Salvation Army. Eligible applicants must have income at or below 250% of federal poverty guidelines, ranging from $37,650 annually for single-person households to $131,800 for eight-person households. The assistance can be used for various energy costs including gas, electric, kerosene, wood, and propane for January 2025.

Southern Company (SO) has declared its regular quarterly dividend of 72 cents per share on its common stock. The dividend will be payable on March 6, 2025, to shareholders of record as of February 18, 2025. This announcement marks a significant milestone in the company's history, as it has maintained or increased its quarterly dividend payments for 77 consecutive years, demonstrating a long-standing commitment to providing consistent returns to shareholders.

Georgia Power, Southern Company's (NYSE: SO) largest electric subsidiary, is preparing for Winter Storm Enzo's sub-freezing temperatures across Georgia. The company has shared essential resources and tips to help customers manage energy consumption and stay safe during severe weather conditions.

The company recommends several energy-saving measures: maintaining heating systems (which account for 50% of winter energy usage), ensuring proper insulation (saving up to 10% on energy usage), setting thermostats to 68 degrees or lower (each degree reduction saves 3-4% in energy consumption), and utilizing natural heat through window management.

Georgia Power has established multiple communication channels for customers during severe weather, including Outage Alerts, an Outage & Storm Center, an interactive Outage Map, and their mobile app. The company serves 2.7 million customers across 155 Georgia counties with a diverse energy generation mix including nuclear, coal, natural gas, and renewables.

Southern Company (SO) has announced it will release its Q4 2024 earnings report on February 20, 2025, before market open at 7:30 a.m. EST. Following the release, CEO Christopher C. Womack and CFO Daniel S. Tucker will host a conference call at 1 p.m. EST to discuss the results with financial analysts.

The company will provide public access to the conference call through a live webcast available on their investor relations website. A replay of the webcast will remain accessible on the same platform for 12 months following the event.

PowerSecure, a Southern Company subsidiary, announced a collaboration with Edged Energy to provide critical electrical and mechanical systems for data centers, marking the opening of Edged's first North American facility in Atlanta. The partnership, spanning six years, introduces innovative sustainable data center solutions.

The Atlanta Campus features PowerSecure PowerBlocks with EPA-certified Tier 4 Final ultra-low emissions backup generation, autonomous frequency control, and a 24.9 kV medium voltage distribution system. The facility is designed as a 168 MW critical IT campus, comprising a completed 27 MW data center, a 100 MW facility under construction, and a planned 41 MW facility.

Edged's data centers are optimized for energy efficiency, reducing overhead energy consumption by 74% portfolio-wide. The facilities feature advanced cooling systems supporting high-density AI workloads without water consumption for cooling, demonstrating commitment to sustainability and efficient operations.

Georgia Power, a subsidiary of Southern Company (NYSE: SO), has restored power to over 230,000 customers following Winter Storm Cora, which brought heavy snow, freezing rain, and ice to North Georgia. As of Saturday morning, less than 60,000 customers remain affected, with the company expecting to restore power to nearly all impacted customers who can receive power by the end of the day.

The rapid response was facilitated by new smart grid technologies and pre-positioned teams. The hardest-hit areas include parts of Alpharetta, Jonesboro, and Atlanta. While restoration efforts continue, challenging conditions persist with temperatures barely rising above freezing, potentially slowing progress due to icy roads and the risk of falling trees and limbs.

The company maintains an interactive Outage Map with real-time information and estimated restoration times, while emphasizing safety measures for both customers and crews during the recovery process.