The Southern Company ( (SO) ) has released its Q4 earnings. Here is a breakdown of the information The Southern Company presented to its investors.
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Southern Company is a leading energy provider in the U.S., offering electric and natural gas services across the Southeast and beyond, with a commitment to sustainability and innovation.
In its latest earnings report, Southern Company announced fourth-quarter 2024 earnings of $534 million, showing a decline from $855 million in the same period in 2023. However, the full-year earnings for 2024 showed an increase to $4.4 billion compared to $4.0 billion in 2023.
The company’s financial performance in 2024 was marked by higher utility revenues but was offset by increased operational and maintenance expenses, interest, and depreciation costs. Fourth-quarter operating revenues rose to $6.3 billion, a 4.9% increase from the previous year, while full-year operating revenues grew by 5.8% to $26.7 billion. Southern Company Gas and its electric operating companies contributed significantly to the earnings, though there were notable losses and tax impacts affecting overall performance.
Looking forward, Southern Company’s management remains optimistic about sustained growth, bolstered by their focus on meeting energy demands sustainably and efficiently. The company continues to aim for net-zero greenhouse gas emissions by 2050, reflecting its strategic direction and commitment to innovation and resilience.
Southern Company’s forward-looking strategies and financial outlook will be crucial in navigating the evolving energy landscape, ensuring it remains a key player in the sector while delivering value to its customers and stakeholders.
