Group 1 - Southern Co. reported quarterly earnings of $1.43 per share, exceeding the Zacks Consensus Estimate of $1.33 per share, and showing a slight increase from $1.42 per share a year ago, resulting in an earnings surprise of 7.52% [1] - The company achieved revenues of $7.27 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.13% and increasing from $6.98 billion year-over-year [2] - Southern Co. has outperformed the S&P 500, with shares rising approximately 27.4% since the beginning of the year compared to the S&P 500's gain of 21.9% [3] Group 2 - The earnings outlook for Southern Co. is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The trend of estimate revisions for Southern Co. is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.57 on revenues of $6.29 billion, and for the current fiscal year, it is $4.02 on revenues of $26.48 billion [7] Group 3 - The Utility - Electric Power industry, to which Southern Co. belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, NRG Energy, is expected to report quarterly earnings of $1.71 per share, reflecting a year-over-year increase of 5.6%, with revenues anticipated to be $5.43 billion, down 31.7% from the previous year [9]

Core Insights - Southern Company reported third-quarter earnings of $1.5 billion, or $1.40 per share, for 2024, an increase from $1.4 billion, or $1.30 per share, in the same quarter of 2023 [1][9] - For the nine months ended September 30, 2024, earnings were $3.9 billion, or $3.53 per share, compared to $3.1 billion, or $2.86 per share, for the same period in 2023 [1][9] Financial Performance - Excluding certain items, Southern Company earned $1.6 billion, or $1.43 per share, in Q3 2024, compared to $1.5 billion, or $1.42 per share, in Q3 2023 [2][10] - Year-to-date earnings, excluding items, were $3.9 billion, or $3.56 per share, for 2024, compared to $3.3 billion, or $3.01 per share, for the same period in 2023 [2][10] - Operating revenues for Q3 2024 were $7.3 billion, a 4.2% increase from $7.0 billion in Q3 2023 [5][19] - Year-to-date operating revenues reached $20.4 billion, up 6.1% from $19.2 billion in the same period of 2023 [5][19] Earnings Drivers - Adjusted earnings in Q3 2024 were driven by higher utility revenues, offset by increased interest expenses, depreciation, non-fuel operations and maintenance expenses, and income taxes [4][10] - The company experienced a pre-tax impairment loss of $36 million related to the discontinued development of a commercial facility at Alabama Power Company [10][15] Customer and Sales Metrics - Total kilowatt-hour sales for Q3 2024 were 56,035 million, a 1.1% increase from 55,428 million in Q3 2023 [17] - Total retail sales decreased by 1.1% in Q3 2024 compared to the same period in 2023, while total wholesale sales increased by 8.2% [17][19] - The total number of regulated utility customers increased to 8.865 million, a 0.8% rise from 8.792 million in 2023 [18] Operational Highlights - Southern Company’s CEO highlighted the company's performance and commitment to community support during Hurricane Helene, emphasizing the dedication of employees and first responders [6][8] - The company aims for net zero greenhouse gas emissions by 2050, reflecting its commitment to sustainability and innovation [8]

Wall Street analysts forecast that Southern Co. (SO) will report quarterly earnings of $1.33 per share in its upcoming release, pointing to a year-over-year decline of 6.3%. It is anticipated that revenues will amount to $7.13 billion, exhibiting an increase of 2.2% compared to the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.6% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial es ...

NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of those who acquired Xiao-I Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI) American depository shares (“ADSs”) issued in connection with the Company’s initial public offering conducted on or about March 9, 2023 (the “IPO” or “Offering”); an ...

Press Release US District Court for the Southern District of New York orders a new trial on compensatory damages in Atos’ litigation with TriZetto Paris, France – October 25, 2024 On October 23, 2024, as part of Syntel’s ongoing litigation with Cognizant and its subsidiary TriZetto, the United States District Court for the Southern District of New York ordered a new trial as to what compensatory damages Syntel, now part of Atos, would be liable for due to Syntel’s alleged trade secret misappropriation and ...

Southern Co. (SO) closed the latest trading day at $93.61, indicating a -0.57% change from the previous session's end. This change lagged the S&P 500's 0.22% gain on the day. Elsewhere, the Dow saw a downswing of 0.33%, while the tech-heavy Nasdaq appreciated by 0.76%.The power company's stock has climbed by 5.37% in the past month, exceeding the Utilities sector's loss of 1.27% and the S&P 500's gain of 1.47%.The investment community will be paying close attention to the earnings performance of Southern Co ...

Southern Copper Corporation (SCCO) reported third-quarter 2024 earnings of $1.15 per share, which beat the Zacks Consensus Estimate of $1.12. The bottom line marked a 46% improvement from the year-ago quarter, mainly driven by higher sales volumes for copper, molybdenum, silver and zinc and higher prices for all metals (except molybdenum). SCCO’s strict cost control efforts also contributed to the earnings improvement.  SCCO reported net sales of $2.9 billion, up 17% from the year-ago quarter, driven by hig ...

Vancouver, British Columbia--(Newsfile Corp. - October 24, 2024) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) ("Southern Silver" or the "Company") reports that all resolutions as set out in the Company's notice of meeting and information circular were passed by the requisite majority of shareholders at its annual general meeting held on October 23, 2024. The shareholders re-appointed Smythe LLP, Chartered Accountants, as auditor of Southern Silver and approved Southern Silver's rolling in ...

ATLANTA, Oct. 24, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) is uniting a diverse group of industry leaders and stakeholders to form its Customer Advisory Board. The new initiative aims to deepen the company's engagement with key voices from the industries it serves and leverage their invaluable insights to further enhance its customer experience.The railroad will incorporate strategic guidance and feedback on its operations and customer service practices as part of Norfolk Southern's com ...

ATLANTA, Oct. 24, 2024 /PRNewswire/ -- Southern Company Gas today announced that Myra Bierria has been named senior vice president and chief administrative officer, effective Oct. 26. A member of the company's Management Council, Bierria will report directly to Chairman, President and Chief Executive Officer James Y. (Jim) Kerr II and serve as Kerr's chief of staff, with responsibility for the Corporate Communications, Corporate Impact and Facilities organizations.Southern Company Gas Names Myra Bierria Sen ...