Southern Co. Swings to 4Q Profit Despite Softer Revenue
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Dow Jones
By Will Feuer
Southern Co. swung to a profit in the fourth quarter, despite lower revenue in the period.
The utility company reported fourth-quarter earnings of $855 million, or 78 cents a share, compared with a loss of $87 million, or 8 cents a share, in the same period a year earlier.
Stripping out one-time items, adjusted earnings were 64 cents a share. Analysts surveyed by FactSet had expected 60 cents a share.
Revenue fell more than 14% to $6.05 billion, below the $6.9 billion that analysts were expecting, and dragged down by fuel, wholesale electric and natural gas sales.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
February 15, 2024 08:05 ET (13:05 GMT)
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