Welcome to our dedicated page for The Southern Company news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on The Southern Company stock.
The Southern Company (NYSE: SO) is a prominent American gas and electric utility holding company headquartered in Atlanta, Georgia, with executive offices in Birmingham, Alabama. As of 2021, it ranks as the second-largest utility company in the U.S. by customer base, serving around 9 million customers. The company's operational footprint spans vertically integrated electric utilities in Georgia, Alabama, and Mississippi, and natural gas distribution utilities in four states. This robust infrastructure includes 50 gigawatts of rate-regulated generating capacity, primarily designated for customer service in these states. Moreover, its subsidiary Southern Power owns 13 gigawatts of natural gas generation and renewable energy facilities across the U.S., selling electricity primarily through long-term contracts.
Southern Company’s commitment to innovation is highlighted by several recent initiatives. Notably, it reported significant financial achievements for 2023, with fourth-quarter earnings of $855 million, or 78 cents per share, compared to a loss in the same period in 2022. The company also completed Plant Vogtle Unit 3, the first new nuclear unit in the U.S. in over three decades, and recently announced that Plant Vogtle Unit 4 has achieved commercial operation, solidifying its position as a leader in clean energy production.
In terms of sustainability, Southern Company is heavily investing in renewable energy projects. The South Cheyenne Solar Facility in Wyoming, the company's 30th solar facility, recently became operational, adding to Southern Power's solar portfolio, which now exceeds 2,740 MW. The company also envisions a significant expansion of its solar and renewable capacity, aiming to reach approximately 20,000 MW by 2030 as part of its net zero greenhouse gas emissions goal by 2050.
Southern Company is also deeply involved in innovative community projects. For instance, Nicor Gas, a subsidiary of Southern Company Gas, recently launched Smart Neighborhoods™ in Aurora, Illinois, emphasizing affordable net-zero energy communities. Furthermore, the company has partnered with WeaveGrid to promote electric vehicle (EV) adoption by introducing programs that simplify home charging and offer utility incentives in Alabama and Georgia.
The company's dedication to community and diversity extends to initiatives like the UNDERRATED Golf Tour, aiming to provide opportunities to aspiring golfers from underrepresented backgrounds. Southern Company’s commitment to integrity, excellence, and respect is mirrored in its partnership with this tour, underlining its broader mission to foster inclusion within the communities it serves.
Southern Company’s corporate culture and hiring practices have earned national recognition from Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, and the Human Rights Campaign, showcasing the company's focus on excellence and innovation. Through ongoing investments in clean energy, smart technologies, and community development, Southern Company continues to transform energy into economic, environmental, and social progress for a sustainable future.
Southern Company (NYSE: SO) announced key executive transitions aimed at strengthening its leadership team as part of a management transition plan. Effective March 1, 2023, David Poroch will take on the roles of comptroller and chief accounting officer, succeeding Ann Daiss, who will retire on May 1. Grace Kolvereid will become the CFO of Southern Company Gas, while Moses Feagin will lead Alabama Power as executive vice president and CFO, also starting March 1. Sterling Spainhour will assume the role of chief legal officer and compliance officer on April 1. The company emphasizes the importance of internal talent development to adapt to changing energy demands.
Southern Company has unveiled its commitment to meet the evolving energy needs of customers and stakeholders. Key initiatives include substantial investments in electric and natural gas infrastructure aimed at maintaining reliable service. The company plans to enhance its lower-carbon generating fleet by integrating renewable resources and retiring uneconomic coal plants, aligning with its net zero greenhouse gas emissions goal by 2050. Southern Company emphasizes workforce sustainability and community engagement while promoting diverse representation. The report serves as a roadmap for stakeholders to understand the company’s strategic alignment with corporate responsibility.
Southern Company (NYSE: SO) announced a regular quarterly dividend of
Southern Company (NYSE: SO) will announce its fourth-quarter 2022 earnings on February 16, 2023, at 7:30 a.m. EDT. Following the announcement, CEO Thomas A. Fanning and CFO Daniel S. Tucker will host a conference call for analysts at 1 p.m. EDT to discuss the earnings results. Investors and the public can access a live webcast of the call and a replay will be available for 12 months on their investor relations website. Southern Company serves approximately 9 million customers, providing reliable energy through various subsidiaries and is committed to innovation and low-carbon solutions.
Virginia Natural Gas has launched a new Customer CARE Center in
In collaboration with community organizations, the center aims to employ military veterans and individuals with disabilities, reflecting the company’s commitment to community support. The center aligns with Virginia Natural Gas's strategy to evolve its customer service operations, reinforcing its dedication to meeting customer needs effectively.
Alabama Power Company has appointed Jeff Peoples as its new CEO and chairman of the board, effective immediately, succeeding Mark Crosswhite who retired. Peoples, who has been with the company since 1984, previously served as executive vice president overseeing customer services and labor relations. His extensive experience includes various roles at Southern Company Gas. Alabama Power, a subsidiary of Southern Company (NYSE:SO), serves 1.5 million customers across Alabama, emphasizing its commitment to reliable and affordable electricity.
On January 5, 2023, Southern Company's Board of Directors appointed Chris Womack as president and CEO, effective March 31, 2023, succeeding Thomas A. Fanning, who will become Executive Chairman. Womack has a solid background within the company, including roles as president of Georgia Power. The Board also announced several other executive appointments to enhance leadership continuity and operational focus, reflecting a strategic succession plan to adapt to an evolving energy landscape. This change aims to strengthen Southern Company's commitment to clean and reliable energy solutions.
Southern Company, in partnership with PROPEL, Disney, and the HBCU Week Foundation, has awarded a $50,000 scholarship to Somalia Gilliard from Atlanta. This marks the second scholarship given as part of a $100,000 initiative announced in October. Gilliard, a senior with a 3.9 GPA, plans to study chemistry at either Alabama State University or Florida A&M University, aspiring to develop an organic beauty product line. The scholarship aims to alleviate financial burdens for HBCU students, with payments made in annual installments.
FAQ
What is the current stock price of The Southern Company (SO)?
What is the market cap of The Southern Company (SO)?
What services does The Southern Company provide?
Where is The Southern Company headquartered?
What recent achievements has The Southern Company made?
What is Southern Company's commitment to renewable energy?
What is Southern Company’s involvement in the Smart Neighborhoods™ project?
How is Southern Company supporting electric vehicle adoption?
What are Southern Company’s values?
How does Southern Company support diversity and inclusion?
How has Southern Company been recognized for its corporate culture?
What is Southern Company’s financial outlook?
