Southern Company(US:SO) Prnewswireยท2025-02-20 12:30Core Insights - Southern Company reported fourth-quarter earnings of $534 million, or 49 cents per share, for 2024, a decrease from $855 million, or 78 cents per share, in the fourth quarter of 2023 [1] - For the full year 2024, Southern Company earned $4.4 billion, or $4.02 per share, compared to $4.0 billion, or $3.64 per share, in 2023 [1] - Excluding certain items, fourth-quarter earnings were $544 million, or 50 cents per share, down from $700 million, or 64 cents per share, in the same quarter of 2023 [2] Financial Performance - Fourth-quarter operating revenues increased to $6.3 billion, up 4.9% from $6.0 billion in the fourth quarter of 2023 [4] - Full-year operating revenues for 2024 were $26.7 billion, a 5.8% increase from $25.3 billion in 2023 [4] - The company experienced higher utility revenues, which were partially offset by increased non-fuel operations and maintenance expenses, interest expense, depreciation and amortization, and income taxes [4] Earnings Breakdown - Traditional Electric Operating Companies reported a net income of $515 million for the fourth quarter of 2024, down from $785 million in 2023 [10] - Southern Company Gas reported a net income of $185 million for the fourth quarter of 2024, up from $140 million in 2023 [10] - The average shares outstanding increased to 1,098 million in the fourth quarter of 2024 from 1,092 million in 2023 [10] Management Commentary - CEO Christopher C. Womack highlighted the dedication of the team and the company's commitment to sustainably meeting energy needs, which is expected to support continued success [5] Customer Metrics - Southern Company served approximately 9 million customers across the Southeast and beyond, with a slight increase in total regulated utility customers to 8,936 thousand in 2024 from 8,861 thousand in 2023 [7][29]