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Southern Co. posted third-quarter revenue of $8.84 billion, up 13% from a year earlier, as demand for energy increased across the Southeast. Adjusted earnings per share also topped analysts’ estimates, reaching $1.94 against a FactSet consensus of $1.71.
The Atlanta-based utility reported net profit of $2.05 billion, or $1.76 a share, for the quarter. A year earlier, profit was $1.71 billion, or $1.54 a share.
Revenue exceeded analysts’ estimate of $8.38 billion. Higher revenue from fuel, non-fuel, wholesale electric and natural gas operations offset a decline in other electric revenues.
Chief Executive Chris Womack said Southern’s scale and strategy are helping the company meet rising demand for reliable energy. He described growth in the Southeast as “unprecedented and transformational” and said the company was well positioned for current and future needs.
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