Southern Company reports fourth-quarter and full-year 2023 earnings
Excluding the items described under "Net Income – Excluding Items" in the table below,
Non-GAAP Financial Measures |
|
Three Months Ended |
|
Year-to-Date December |
||
Net Income - Excluding Items (in millions) |
|
2023 |
2022 |
|
2023 |
2022 |
Net Income - As Reported |
|
|
|
|
|
|
Less: |
|
|
|
|
|
|
Estimated Loss on |
|
222 |
(205) |
|
51 |
(199) |
Tax Impact |
|
(56) |
52 |
|
(13) |
51 |
Acquisition and Disposition Impacts |
|
1 |
(134) |
|
(1) |
(115) |
Tax Impact |
|
32 |
34 |
|
33 |
32 |
Loss on Extinguishment of Debt |
|
- |
- |
|
(5) |
- |
Tax Impact |
|
- |
- |
|
1 |
- |
Estimated Loss on Qualifying Infrastructure Plant and Other Capital Investments |
|
(58) |
- |
|
(96) |
- |
Tax Impact |
|
14 |
- |
|
24 |
- |
Impairments |
|
- |
(119) |
|
- |
(119) |
Tax Impact |
|
- |
- |
|
- |
- |
Net Income – Excluding Items |
|
|
|
|
|
|
Average Shares Outstanding – (in millions) |
|
1,092 |
1,090 |
|
1,092 |
1,075 |
Basic Earnings Per Share – Excluding Items |
|
|
|
|
|
|
NOTE: For more information regarding these non-GAAP adjustments, see the footnotes accompanying the Financial Highlights page of the earnings package.
Adjusted earnings drivers for the full year 2023, as compared with 2022, were higher utility revenues, lower non-fuel operations and maintenance costs and income taxes, partially offset by increased depreciation and amortization and interest expense, and milder than normal weather at the company's regulated electric utilities.
Fourth-quarter 2023 operating revenues were
"Last year was an exceptional year for
About
|
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|
|||||||
|
|||||||
Financial Highlights |
|||||||
(In Millions of Dollars Except Earnings Per Share) |
|||||||
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year-To-Date December |
||||
Net Income (Loss)–As Reported (See Notes) |
2023 |
|
2022 |
|
2023 |
|
2022 |
Traditional Electric Operating Companies |
$ 785 |
|
$ 62 |
|
$ 3,637 |
|
$ 3,318 |
|
69 |
|
89 |
|
357 |
|
354 |
|
140 |
|
56 |
|
615 |
|
572 |
Total |
994 |
|
207 |
|
4,609 |
|
4,244 |
Parent Company and Other |
(139) |
|
(294) |
|
(633) |
|
(720) |
Net Income (Loss)–As Reported |
$ 855 |
|
$ (87) |
|
$ 3,976 |
|
$ 3,524 |
|
|
|
|
|
|
|
|
Basic Earnings (Loss) Per Share1 |
$ 0.78 |
|
$ (0.08) |
|
$ 3.64 |
|
$ 3.28 |
Average Shares Outstanding (in millions) |
1,092 |
|
1,090 |
|
1,092 |
|
1,075 |
End of Period Shares Outstanding (in millions) |
|
|
|
|
1,091 |
|
1,089 |
|
|
|
|
|
|
|
|
Non-GAAP Financial Measures |
Three Months Ended |
|
Year-To-Date December |
||||
Net Income–Excluding Items (See Notes) |
2023 |
|
2022 |
|
2023 |
|
2022 |
Net Income (Loss)–As Reported |
$ 855 |
|
$ (87) |
|
$ 3,976 |
|
$ 3,524 |
Less: |
|
|
|
|
|
|
|
Estimated Loss on |
222 |
|
(205) |
|
51 |
|
(199) |
Tax Impact |
(56) |
|
52 |
|
(13) |
|
51 |
Acquisition and Disposition Impacts3 |
1 |
|
(134) |
|
(1) |
|
(115) |
Tax Impact |
32 |
|
34 |
|
33 |
|
32 |
Loss on Extinguishment of Debt4 |
— |
|
— |
|
(5) |
|
— |
Tax Impact |
— |
|
— |
|
1 |
|
— |
Estimated Loss on Qualifying Infrastructure Plant and Other Capital Investments5 |
(58) |
|
— |
|
(96) |
|
— |
Tax Impact |
14 |
|
— |
|
24 |
|
— |
Impairments6 |
— |
|
(119) |
|
— |
|
(119) |
Tax Impact |
— |
|
— |
|
— |
|
— |
Net Income–Excluding Items |
$ 700 |
|
$ 285 |
|
$ 3,982 |
|
$ 3,874 |
|
|
|
|
|
|
|
|
Basic Earnings Per Share–Excluding Items |
$ 0.64 |
|
$ 0.26 |
|
$ 3.65 |
|
$ 3.60 |
- See Notes on the following page |
Financial Highlights
Notes
- Dilution is not material in any period presented. Diluted earnings (loss) per share was
$0.78 and$3.62 for the three and twelve months endedDecember 31, 2023 , respectively, and was$(0.08) and$3.26 for the three and twelve months endedDecember 31, 2022 , respectively. - Earnings for the three and twelve months ended
December 31, 2023 include a credit of$228 million pre tax ($170 million after tax) and a net credit of$68 million pre tax ($50 million after tax), respectively, and earnings for the three and twelve months endedDecember 31, 2022 include a charge of$201 million pre tax ($150 million after tax) and net charges of$183 million pre tax ($137 million after tax), respectively, for estimated probable losses onGeorgia Power Company's construction of Plant Vogtle Units 3 and 4. Further charges may occur; however, the amount and timing of any such charges are uncertain. Earnings for the three and twelve months endedDecember 31, 2023 and 2022 also include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related toMississippi Power Company's integrated coal gasification combined cycle facility project inKemper County, Mississippi .Mississippi Power Company expects to incur additional pre-tax period costs to complete dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage, totaling approximately$15 million annually through 2025. - Earnings for the three and twelve months ended
December 31, 2023 include a$35 million favorable tax impact related to a reversal of an uncertain tax position associated with the 2019 sale ofGulf Power Company . Earnings for the three and twelve months endedDecember 31, 2022 include impairment charges totaling$131 million pre-tax ($99 million after-tax) and other disposition impacts associated with the sales ofSouthern Company Gas' natural gas storage facilities. Earnings for the twelve months endedDecember 31, 2022 also include a$14 million pre-tax ($11 million after-tax) gain as a result of the early termination of the transition services agreement related to the 2019 sale ofGulf Power Company . Further impacts may result from future acquisition and disposition activities; however, the amount and timing of any such impacts are uncertain. - Earnings for the twelve months ended
December 31, 2023 include costs associated with the extinguishment of debt atSouthern Company . Similar transaction costs may occur in the future atSouthern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain. - Earnings for the three and twelve months ended
December 31, 2023 include a charge of$58 million pre tax ($44 million after tax) and charges totaling$96 million pre tax ($72 million after tax), respectively, for estimated losses atSouthern Company Gas associated with theIllinois Commerce Commission disallowances related to (1) its review of the Qualifying Infrastructure Plant (QIP) capital investments byNicor Gas under the QIP rider, or Investing inIllinois program and (2)Nicor Gas' general base rate case proceeding. Further charges may occur; however, the amount and timing of any such charges are uncertain. - Earnings for the three and twelve months ended
December 31, 2022 include an impairment charge of$119 million (pre tax and after tax) associated with goodwill atPowerSecure, Inc. Impairment charges may occur in the future; however, the amount and timing of any such charges are uncertain.
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Significant Factors Impacting EPS |
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year-To-Date December |
||||||||
|
2023 |
|
2022 |
|
Change |
|
2023 |
|
2022 |
|
Change |
Earnings (Loss) Per Share– |
|
|
|
|
|
|
|
|
|
|
|
As Reported1 (See Notes) |
$ 0.78 |
|
|
|
$ 0.86 |
|
$ 3.64 |
|
$ 3.28 |
|
$ 0.36 |
|
|
|
|
|
|
|
|
|
|
|
|
Significant Factors: |
|
|
|
|
|
|
|
|
|
|
|
Traditional Electric Operating Companies |
|
|
|
|
$ 0.66 |
|
|
|
|
|
$ 0.30 |
|
|
|
|
|
(0.02) |
|
|
|
|
|
— |
|
|
|
|
|
0.08 |
|
|
|
|
|
0.04 |
Parent Company and Other |
|
|
|
|
0.14 |
|
|
|
|
|
0.08 |
Increase in Shares |
|
|
|
|
— |
|
|
|
|
|
(0.06) |
Total–As Reported |
|
|
|
|
$ 0.86 |
|
|
|
|
|
$ 0.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year-To-Date December |
||||||||
Non-GAAP Financial Measures |
2023 |
|
2022 |
|
Change |
|
2023 |
|
2022 |
|
Change |
Earnings Per Share– |
|
|
|
|
|
|
|
|
|
|
|
Excluding Items (See Notes) |
$ 0.64 |
|
$ 0.26 |
|
$ 0.38 |
|
$ 3.65 |
|
$ 3.60 |
|
$ 0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
Total–As Reported |
|
|
|
|
$ 0.86 |
|
|
|
|
|
$ 0.36 |
Less: |
|
|
|
|
|
|
|
|
|
|
|
Estimated Loss on |
|
|
|
|
0.29 |
|
|
|
|
|
0.17 |
Acquisition and Disposition Impacts3 |
|
|
|
|
0.12 |
|
|
|
|
|
0.10 |
Loss on Extinguishment of Debt4 |
|
|
|
|
— |
|
|
|
|
|
— |
Estimated Loss on Qualifying Infrastructure Plant and Other Capital Investments5 |
|
|
|
|
(0.04) |
|
|
|
|
|
(0.07) |
Impairments6 |
|
|
|
|
0.11 |
|
|
|
|
|
0.11 |
Total–Excluding Items |
|
|
|
|
$ 0.38 |
|
|
|
|
|
$ 0.05 |
- See Notes on the following page |
Significant Factors Impacting EPS
Notes
- Dilution is not material in any period presented. Diluted earnings (loss) per share was
$0.78 and$3.62 for the three and twelve months endedDecember 31, 2023 , respectively, and was$(0.08) and$3.26 for the three and twelve months endedDecember 31, 2022 , respectively. - Earnings for the three and twelve months ended
December 31, 2023 include a credit of$228 million pre tax ($170 million after tax) and a net credit of$68 million pre tax ($50 million after tax), respectively, and earnings for the three and twelve months endedDecember 31, 2022 include a charge of$201 million pre tax ($150 million after tax) and net charges of$183 million pre tax ($137 million after tax), respectively, for estimated probable losses onGeorgia Power Company's construction of Plant Vogtle Units 3 and 4. Further charges may occur; however, the amount and timing of any such charges are uncertain. Earnings for the three and twelve months endedDecember 31, 2023 and 2022 also include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related toMississippi Power Company's integrated coal gasification combined cycle facility project inKemper County, Mississippi .Mississippi Power Company expects to incur additional pre-tax period costs to complete dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage, totaling approximately$15 million annually through 2025. - Earnings for the three and twelve months ended
December 31, 2023 include a$35 million favorable tax impact related to a reversal of an uncertain tax position associated with the 2019 sale ofGulf Power Company . Earnings for the three and twelve months endedDecember 31, 2022 include impairment charges totaling$131 million pre-tax ($99 million after-tax) and other disposition impacts associated with the sales ofSouthern Company Gas' natural gas storage facilities. Earnings for the twelve months endedDecember 31, 2022 also include a$14 million pre-tax ($11 million after-tax) gain as a result of the early termination of the transition services agreement related to the 2019 sale ofGulf Power Company . Further impacts may result from future acquisition and disposition activities; however, the amount and timing of any such impacts are uncertain. - Earnings for the twelve months ended
December 31, 2023 include costs associated with the extinguishment of debt atSouthern Company . Similar transaction costs may occur in the future atSouthern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain. - Earnings for the three and twelve months ended
December 31, 2023 include a charge of$58 million pre tax ($44 million after tax) and charges totaling$96 million pre tax ($72 million after tax), respectively, for estimated losses atSouthern Company Gas associated with theIllinois Commerce Commission disallowances related to (1) its review of the Qualifying Infrastructure Plant (QIP) capital investments byNicor Gas under the QIP rider, or Investing inIllinois program and (2)Nicor Gas' general base rate case proceeding. Further charges may occur; however, the amount and timing of any such charges are uncertain. - Earnings for the three and twelve months ended
December 31, 2022 include an impairment charge of$119 million (pre tax and after tax) associated with goodwill atPowerSecure, Inc. Impairment charges may occur in the future; however, the amount and timing of any such charges are uncertain.
|
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|
|||
|
|||
EPS Earnings Analysis |
|||
|
|||
|
|
|
|
Description |
Three Months Ended |
|
Year-To-Date December |
|
|
|
|
Retail Sales |
—¢ |
|
(2)¢ |
|
|
|
|
Retail Revenue Impacts |
26 |
|
30 |
|
|
|
|
Weather |
(2) |
|
(16) |
|
|
|
|
Wholesale & Other Operating Revenues |
1 |
|
10 |
|
|
|
|
Non-Fuel O&M(*) |
20 |
|
35 |
|
|
|
|
Depreciation and Amortization |
(15) |
|
(59) |
|
|
|
|
Interest Expense and Other |
(2) |
|
(10) |
|
|
|
|
Income Taxes |
9 |
|
25 |
|
|
|
|
Total Traditional Electric Operating Companies |
37¢ |
|
13¢ |
|
|
|
|
|
(2) |
|
— |
|
|
|
|
|
3 |
|
2 |
|
|
|
|
Parent Company and Other |
— |
|
(4) |
|
|
|
|
Increase in Shares |
— |
|
(6) |
|
|
|
|
Total Change in EPS (Excluding Items) |
38¢ |
|
5¢ |
|
|
|
|
Estimated Loss on |
29 |
|
17 |
|
|
|
|
Acquisition and Disposition Impacts2 |
12 |
|
10 |
|
|
|
|
Loss on Extinguishment of Debt3 |
— |
|
— |
|
|
|
|
Estimated Loss on Qualifying Infrastructure Plant and Other |
(4) |
|
(7) |
|
|
|
|
Impairments5 |
11 |
|
11 |
|
|
|
|
Total Change in EPS (As Reported) |
86¢ |
|
36¢ |
(*) Includes non-service cost-related benefits income |
|
|
|
- See additional Notes on the following page |
|
|
|
EPS Earnings Analysis
Notes
- Earnings for the three and twelve months ended
December 31, 2023 include a credit of$228 million pre tax ($170 million after tax) and a net credit of$68 million pre tax ($50 million after tax), respectively, and earnings for the three and twelve months endedDecember 31, 2022 include a charge of$201 million pre tax ($150 million after tax) and net charges of$183 million pre tax ($137 million after tax), respectively, for estimated probable losses onGeorgia Power Company's construction of Plant Vogtle Units 3 and 4. Further charges may occur; however, the amount and timing of any such charges are uncertain. Earnings for the three and twelve months endedDecember 31, 2023 and 2022 also include charges (net of salvage proceeds), associated legal expenses (net of insurance recoveries), and tax impacts related toMississippi Power Company's integrated coal gasification combined cycle facility project inKemper County, Mississippi .Mississippi Power Company expects to incur additional pre-tax period costs to complete dismantlement of the abandoned gasifier-related assets and site restoration activities, including related costs for compliance and safety, asset retirement obligation accretion, and property taxes, net of salvage, totaling approximately$15 million annually through 2025. - Earnings for the three and twelve months ended
December 31, 2023 include a$35 million favorable tax impact related to a reversal of an uncertain tax position associated with the 2019 sale ofGulf Power Company . Earnings for the three and twelve months endedDecember 31, 2022 include impairment charges totaling$131 million pre-tax ($99 million after-tax) and other disposition impacts associated with the sales ofSouthern Company Gas' natural gas storage facilities. Earnings for the twelve months endedDecember 31, 2022 also include a$14 million pre-tax ($11 million after-tax) gain as a result of the early termination of the transition services agreement related to the 2019 sale ofGulf Power Company . Further impacts may result from future acquisition and disposition activities; however, the amount and timing of any such impacts are uncertain. - Earnings for the twelve months ended
December 31, 2023 include costs associated with the extinguishment of debt atSouthern Company . Similar transaction costs may occur in the future atSouthern Company or one of its unregulated subsidiaries; however, the amount and timing of any such costs are uncertain. - Earnings for the three and twelve months ended
December 31, 2023 include a charge of$58 million pre tax ($44 million after tax) and charges totaling$96 million pre tax ($72 million after tax), respectively, for estimated losses atSouthern Company Gas associated with theIllinois Commerce Commission disallowances related to (1) its review of the Qualifying Infrastructure Plant (QIP) capital investments byNicor Gas under the QIP rider, or Investing inIllinois program and (2)Nicor Gas' general base rate case proceeding. Further charges may occur; however, the amount and timing of any such charges are uncertain. - Earnings for the three and twelve months ended
December 31, 2022 include an impairment charge of$119 million (pre tax and after tax) associated with goodwill atPowerSecure, Inc. Impairment charges may occur in the future; however, the amount and timing of any such charges are uncertain.
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Consolidated Earnings |
|||||||||||
As Reported |
|||||||||||
(In Millions of Dollars) |
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December |
|
Year-To-Date December |
||||||||
|
2023 |
|
2022 |
|
Change |
|
2023 |
|
2022 |
|
Change |
Retail Electric Revenues- |
|
|
|
|
|
|
|
|
|
|
|
Fuel |
$ 1,018 |
|
$ 1,460 |
|
$ (442) |
|
$ 4,430 |
|
$ 6,402 |
|
|
Non-Fuel |
2,728 |
|
2,374 |
|
354 |
|
11,913 |
|
11,795 |
|
118 |
Wholesale Electric Revenues |
537 |
|
843 |
|
(306) |
|
2,467 |
|
3,641 |
|
(1,174) |
Other Electric Revenues |
190 |
|
193 |
|
(3) |
|
792 |
|
747 |
|
45 |
Natural Gas Revenues |
1,285 |
|
1,964 |
|
(679) |
|
4,702 |
|
5,962 |
|
(1,260) |
Other Revenues |
287 |
|
213 |
|
74 |
|
949 |
|
732 |
|
217 |
Total Operating Revenues |
6,045 |
|
7,047 |
|
(1,002) |
|
25,253 |
|
29,279 |
|
(4,026) |
|
1,192 |
|
1,894 |
|
(702) |
|
5,248 |
|
8,428 |
|
(3,180) |
Cost of Natural Gas |
445 |
|
1,164 |
|
(719) |
|
1,644 |
|
3,004 |
|
(1,360) |
Cost of Other Sales |
179 |
|
121 |
|
58 |
|
560 |
|
396 |
|
164 |
Non-Fuel O&M |
1,741 |
|
2,005 |
|
(264) |
|
6,093 |
|
6,573 |
|
(480) |
Depreciation and Amortization |
1,160 |
|
935 |
|
225 |
|
4,525 |
|
3,663 |
|
862 |
Taxes Other Than Income Taxes |
349 |
|
338 |
|
11 |
|
1,425 |
|
1,411 |
|
14 |
Estimated Loss on Plant Vogtle Units 3 and 4 |
(228) |
|
201 |
|
(429) |
|
(68) |
|
183 |
|
(251) |
Impairment Charges |
— |
|
251 |
|
(251) |
|
— |
|
251 |
|
(251) |
Total Operating Expenses |
4,838 |
|
6,909 |
|
(2,071) |
|
19,427 |
|
23,909 |
|
(4,482) |
Operating Income |
1,207 |
|
138 |
|
1,069 |
|
5,826 |
|
5,370 |
|
456 |
Allowance for |
68 |
|
61 |
|
7 |
|
268 |
|
224 |
|
44 |
Earnings from Equity Method Investments |
34 |
|
42 |
|
(8) |
|
144 |
|
151 |
|
(7) |
Interest Expense, Net of Amounts Capitalized |
634 |
|
561 |
|
73 |
|
2,446 |
|
2,022 |
|
424 |
Other Income (Expense), net |
125 |
|
86 |
|
39 |
|
553 |
|
500 |
|
53 |
Income Taxes (Benefit) |
4 |
|
(96) |
|
100 |
|
496 |
|
795 |
|
(299) |
Net Income (Loss) |
796 |
|
(138) |
|
934 |
|
3,849 |
|
3,428 |
|
421 |
Dividends on Preferred Stock of Subsidiaries |
— |
|
1 |
|
(1) |
|
— |
|
11 |
|
(11) |
Net Loss Attributable to Noncontrolling Interests |
(59) |
|
(52) |
|
(7) |
|
(127) |
|
(107) |
|
(20) |
NET INCOME (LOSS) ATTRIBUTABLE TO SOUTHERN COMPANY |
$ 855 |
|
$ (87) |
|
$ 942 |
|
$ 3,976 |
|
$ 3,524 |
|
$ 452 |
Notes |
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Kilowatt-Hour Sales and Customers |
|||||||||||||||
(In Millions of KWHs) |
|||||||||||||||
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December |
|
Year-To-Date December |
||||||||||||
|
2023 |
|
2022 |
|
Change |
|
Weather |
|
2023 |
|
2022 |
|
Change |
|
Weather |
Kilowatt-Hour Sales- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Sales |
45,351 |
|
47,398 |
|
(4.3) % |
|
|
|
195,507 |
|
204,273 |
|
(4.3) % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Retail Sales- |
33,817 |
|
34,264 |
|
(1.3) % |
|
(0.3) % |
|
144,531 |
|
147,981 |
|
(2.3) % |
|
(0.4) % |
Residential |
10,622 |
|
11,000 |
|
(3.4) % |
|
(1.0) % |
|
47,080 |
|
49,633 |
|
(5.1) % |
|
(0.5) % |
Commercial |
11,294 |
|
11,219 |
|
0.7 % |
|
1.4 % |
|
48,343 |
|
48,279 |
|
0.1 % |
|
1.3 % |
Industrial |
11,765 |
|
11,899 |
|
(1.1) % |
|
(1.1) % |
|
48,556 |
|
49,474 |
|
(1.9) % |
|
(1.9) % |
Other |
136 |
|
146 |
|
(6.2) % |
|
(5.9) % |
|
552 |
|
595 |
|
(7.2) % |
|
(6.8) % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Wholesale Sales |
11,534 |
|
13,134 |
|
(12.2) % |
|
N/A |
|
50,976 |
|
56,292 |
|
(9.4) % |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Thousands of Customers) |
|||||||||||||||
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|
|
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|
|
|
|
Period Ended December |
|
|
||||||||
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
|
Change |
|
|
Regulated Utility Customers- |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total Utility Customers- |
|
|
|
|
|
|
|
8,861 |
|
8,795 |
|
0.8 % |
|
|
|
|
|
|
|
|
|
4,487 |
|
4,437 |
|
1.1 % |
|
|
|||
|
|
|
|
|
|
|
|
4,374 |
|
4,358 |
|
0.4 % |
|
|
|
|||||||||||
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|
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|
|||||
|
|||||||||||
Financial Overview |
|||||||||||
As Reported |
|||||||||||
(In Millions of Dollars) |
|||||||||||
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|
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|
|
|
|
|
|
|
Three Months Ended December |
|
Year-To-Date December |
||||||||
|
2023 |
|
2022 |
|
% Change |
|
2023 |
|
2022 |
|
% Change |
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues |
$ 6,045 |
|
$ 7,047 |
|
(14.2) % |
|
|
|
|
|
(13.8) % |
Earnings (Loss) Before Income Taxes |
800 |
|
(234) |
|
N/M |
|
4,345 |
|
4,223 |
|
2.9 % |
Net Income (Loss) Available to Common |
855 |
|
(87) |
|
N/M |
|
3,976 |
|
3,524 |
|
12.8 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues |
$ 1,630 |
|
$ 1,794 |
|
(9.1) % |
|
$ 7,050 |
|
$ 7,817 |
|
(9.8) % |
Earnings Before Income Taxes |
216 |
|
114 |
|
89.5 % |
|
1,451 |
|
1,774 |
|
(18.2) % |
Net Income Available to Common |
238 |
|
84 |
|
183.3 % |
|
1,370 |
|
1,340 |
|
2.2 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues |
$ 2,313 |
|
$ 2,366 |
|
(2.2) % |
|
|
|
|
|
(12.7) % |
Earnings (Loss) Before Income Taxes |
636 |
|
(89) |
|
N/M |
|
2,528 |
|
2,183 |
|
15.8 % |
Net Income (Loss) Available to Common |
533 |
|
(38) |
|
N/M |
|
2,080 |
|
1,813 |
|
14.7 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues |
$ 337 |
|
$ 415 |
|
(18.8) % |
|
$ 1,474 |
|
$ 1,694 |
|
(13.0) % |
Earnings Before Income Taxes |
16 |
|
13 |
|
23.1 % |
|
224 |
|
201 |
|
11.4 % |
Net Income Available to Common |
15 |
|
14 |
|
7.1 % |
|
188 |
|
164 |
|
14.6 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues |
$ 503 |
|
$ 751 |
|
(33.0) % |
|
$ 2,189 |
|
$ 3,369 |
|
(35.0) % |
Earnings (Loss) Before Income Taxes |
(16) |
|
8 |
|
N/M |
|
242 |
|
267 |
|
(9.4) % |
Net Income Available to Common |
69 |
|
89 |
|
(22.5) % |
|
357 |
|
354 |
|
0.8 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Revenues |
$ 1,285 |
|
$ 1,964 |
|
(34.6) % |
|
$ 4,702 |
|
$ 5,962 |
|
(21.1) % |
Earnings Before Income Taxes |
191 |
|
75 |
|
154.7 % |
|
826 |
|
752 |
|
9.8 % |
Net Income Available to Common |
140 |
|
56 |
|
150.0 % |
|
615 |
|
572 |
|
7.5 % |
N/M - Not Meaningful |
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Notes |
View original content to download multimedia:https://www.prnewswire.com/news-releases/southern-company-reports-fourth-quarter-and-full-year-2023-earnings-302062761.html
SOURCE