Southern Co. Posts Lower 2Q Revenue Amid Mild Spring
By Will Feuer
Southern Co. posted a roughly 20% drop in sales for the second quarter as lower fuel prices and milder spring and early summer weather in the company's service territories weighed on results.
The energy company posted earnings of $838 million, or 77 cents a share, down from earnings of $1.11 billion, or $1.04 a share, a year ago.
Adjusted earnings came to 79 cents a share. Analysts surveyed by FactSet expected adjusted earnings of 75 cents a share.
Revenue fell to $5.75 billion from $7.21 billion a year ago. Analysts expected sales of $6.47 billion, according to FactSet.
Chief Executive Christopher Womack said the company's nuclear facility Plant Vogtle Unit 3 started commercial operations this week and is now serving customers in Georgia.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
August 03, 2023 08:01 ET (12:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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