Welcome to our dedicated page for Southern news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on Southern stock.
Southern Company (NYSE: SO) provides essential energy services to millions across the Southeastern United States through electric utilities, natural gas distribution, and innovative infrastructure solutions. This news hub offers investors and stakeholders direct access to the company's official communications and strategic developments.
Stay informed with verified updates spanning earnings announcements, regulatory milestones, grid modernization projects, and sustainability initiatives. Our curated collection ensures timely access to filings, operational updates, and leadership insights directly affecting SO's market position.
Key coverage areas include rate case decisions, renewable energy partnerships, infrastructure investments, and technology deployments. Track the company's progress in balancing traditional utility operations with emerging energy solutions while maintaining regulatory compliance.
Bookmark this page for streamlined monitoring of SO's financial performance, dividend declarations, and long-term growth strategies. Regular updates provide critical context for evaluating this utility leader's role in America's evolving power sector.
Georgia Power, a subsidiary of Southern Company, is leading a coalition of Southeast utility companies to create a hydrogen hub aimed at reducing carbon emissions. This initiative aligns with the U.S. Department of Energy's $8 billion funding for regional hydrogen hubs under the Infrastructure Investment and Jobs Act. With hydrogen's potential for economic development and decarbonization, Georgia Power has successfully demonstrated a hydrogen-natural gas fuel blend, achieving a 7% reduction in emissions. Since 2007, the company has cut its carbon emissions by over 60%.
Southern Company reported third-quarter 2022 earnings of $1.5 billion, or $1.36 per share, surpassing $1.1 billion ($1.04 per share) from 2021. For the first nine months, earnings reached $3.6 billion ($3.38 per share), up from $2.6 billion ($2.46 per share) year-over-year. Operating revenues surged 34.3% to $8.4 billion in Q3, attributed to increased usage and pricing. Key advancements include the successful initial fuel load at Plant Vogtle Unit 3, enhancing future operational capabilities.
Nicor Gas and Southern Company are collaborating with Habitat for Humanity to create Smart Neighborhood communities in Aurora and Northern Fox Valley, Illinois. The initiative will develop 30 net zero emissions homes, featuring renewable energy technologies to provide affordable housing while minimizing environmental impact. The Aurora site is set for groundbreaking in spring 2023, while development in Northern Fox Valley is scheduled for 2024. This project aims to make energy-efficient homes accessible to low-income families and promote job creation and sustainable practices.
Southern Company and TerraPower achieved a major milestone by completing the installation of the Integrated Effects Test, a significant step in developing the world's largest molten chloride fast reactor (MCFR) technology. This project, part of the Department of Energy's Advanced Reactor Concepts program, aims for a commercial-scale, carbon-free energy source by 2035. The test involved a $76 million investment with a 60%-40% public-private cost share, and it supports future deployment and safety validation of next-generation nuclear reactors, crucial for sustainability and achieving net-zero emissions.
Southern Company has declared a quarterly dividend of 68 cents per share on common stock, set for payment on December 6, 2022. Shareholders of record by November 21, 2022 will receive this dividend. This marks over 70 years of consistent dividend payments at or above the previous quarter's rate. The company serves around 9 million customers, providing reliable energy across multiple states with a commitment to innovation and sustainability.
Virginia Natural Gas (VNG) is expanding its workforce in response to growth in the energy sector, which saw a 4% job increase in 2021. Following a 30% hiring increase in 2020, VNG plans to add nearly 40 new positions in 2022, focusing on utility workers, engineers, and project coordinators. With an aging workforce, they are proactively hiring entry-level roles to ensure continuity. As a recognized Top Workplace, VNG emphasizes employee retention and career growth, aligning with the industry's promising future.
Georgia Power has initiated the fuel load process for the Vogtle Unit 3 reactor core, marking a significant milestone for the U.S. nuclear industry as it prepares for startup and commercial operation. This unit is the first new nuclear facility built in over three decades, projected to enter service in Q1 2023. Once operational, it will supply clean energy to more than 500,000 homes while complying with Nuclear Regulatory Commission (NRC) standards. The effort reflects Georgia Power's commitment to sustainable energy for its 2.7 million customers.
Southern Company has awarded the Propel Student Impact Scholarship of $50,000 to Djahnel Reid during HBCU Week at Walt Disney World Resort. The event, aimed at promoting HBCU education, saw participation from over 50 HBCUs and 5,000 high school students. Reid, a senior at Maynard Evans High School, will study accounting and is the first in her family to attend college. Additionally, she received an on-the-spot acceptance and a $25,000 scholarship from Bethune Cookman University. Two scholarships will be awarded this fall to HBCU students by Southern Company and Propel.
Southern Company plans to release its third quarter earnings on October 27, 2022, at 7:30 a.m. EDT. A conference call for financial analysts, featuring Chairman and CEO Thomas A. Fanning and CFO Daniel S. Tucker, will take place at 1 p.m. EDT the same day. Investors can access a live webcast of the call and a replay for 12 months thereafter. Serving 9 million customers, Southern Company focuses on providing clean, reliable, and affordable energy through a diverse energy portfolio.
Virginia Natural Gas (VNG) is implementing innovative technologies to reduce greenhouse gas emissions in line with its parent Southern Company's goal of achieving net-zero emissions by 2050. By utilizing cross-compression technology, specifically the Zero Emissions Vacuum and Compressor (ZEVAC), VNG successfully recycles natural gas during maintenance, preventing methane from entering the atmosphere. In 2022, VNG saved 42 mcf of natural gas, equivalent to recycling 6.9 tons of waste. VNG aims for a sustainable future by enhancing service reliability while contributing to environmental goals.
