Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $4.30 for 2025, which is the top of the guidance range and represents a 6% increase from the previous year and a 9% average annual growth from 2023 [5][6] - This marks the 11th consecutive year of achieving adjusted earnings results at or above the annual guidance range [6] - Weather-normalized total retail electricity sales increased by 1.7% compared to 2024, significantly higher than the cumulative growth seen over the last decade [7][8] Business Line Data and Key Metrics Changes - Georgia Power saw a 2.5% increase in sales from 2024, with all customer classes showing growth, particularly commercial sales which increased by 17% year-over-year [8][9] - The company added 39,000 new residential electric customers and 25,000 new customers in natural gas distribution [8] - Industrial electricity sales grew by 1.4% in 2025, with gains in primary metals, lumber, paper, and transportation segments [9] Market Data and Key Metrics Changes - The company is experiencing robust economic development activity, with over 120 companies either locating new facilities or expanding operations in its service territories, expected to create over 21,000 new jobs [10][11] - The total large load pipeline has increased to over 75 GW, with 26 signed contracts representing 10 GW of fully contracted electric service agreements [19] Company Strategy and Development Direction - The company is focused on sustainable growth through significant investments in energy infrastructure, with a capital investment forecast of $81 billion over the next five years, primarily at state-regulated utilities [25][26] - The strategy includes an "all-of-the-above" approach to energy sourcing, incorporating natural gas, battery energy storage, and other resources to meet growth opportunities [49][92] - The company aims to maintain a disciplined approach to pricing large load contracts, ensuring benefits for existing customers while capturing growth [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve long-term growth, projecting adjusted EPS growth of 7%-9% from 2026 through 2028 [34][35] - The company anticipates retail electric sales to grow at least 3% in 2026, with an average annual growth of 10% projected from 2026 to 2030 [18] - Management highlighted the importance of regulatory frameworks that allow for flexible pricing and contract negotiations to support growth while ensuring rate stability for existing customers [22][24] Other Important Information - The company has a strong dividend track record, having increased dividends for 24 consecutive years, with projections for continued modest increases in the future [32] - The company is committed to maintaining strong investment-grade credit ratings and has proactively addressed $9 billion of equity needs [29][30] Q&A Session Summary Question: Future growth outlook beyond 2028 - Management indicated confidence in achieving growth targets based on current projects and economic expansion, with potential upside from Southern Power [45][46] Question: Impact of near-term contracts on current plans - Management confirmed that the near-term contracts are included in the current forecast and are expected to be signed imminently [55][56] Question: Data center growth and zoning issues - Management expressed confidence in the progress of data center projects across Georgia, Alabama, and Mississippi, despite ongoing conversations about regulations [62][63] Question: Opportunities for onsite or bridge power solutions - Management noted continued demand for temporary power solutions, indicating a strong market for bridge solutions [84] Question: Southern Power's recontracting opportunities - Management highlighted the potential for recontracting capacity at significantly higher rates, estimating future prices around $20-$25 per kilowatt month [92][94]

Financial Data and Key Metrics Changes - Southern Company reported adjusted earnings per share (EPS) of $4.30 for 2025, marking a 6% increase from the previous year and 9% average annual growth from 2023, achieving the top of its guidance range for the 11th consecutive year [4][3] - The company has maintained a strong dividend track record, with increases every year for the past 24 years, contributing to predictable and sustainable financial results [4][31] Business Line Data and Key Metrics Changes - Retail electricity sales increased by 1.7% in 2025 compared to 2024, significantly higher than the cumulative growth over the last decade [5][6] - Georgia Power experienced a 2.5% growth in electricity sales, with commercial sales up 17% year-over-year, driven by large load data center customers [6][7] - Industrial electricity sales grew by 1.4%, with gains in primary metals, lumber, paper, and transportation segments [8] Market Data and Key Metrics Changes - The company anticipates retail electric sales to grow at least 3% across its electric operating companies in 2026, with an average annual growth projection of 10% from 2026 through 2030 [17] - The total large load pipeline has increased to over 75 GW, with 26 signed contracts representing 10 GW of fully contracted electric service agreements [18] Company Strategy and Development Direction - Southern Company is focused on sustainable growth through significant investments in energy infrastructure, with a capital investment forecast of $81 billion over the next five years, primarily at state-regulated utilities [24][25] - The company is exploring opportunities for new natural gas generation and enhancements to existing generation assets to meet future market demands [15][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capture growth opportunities, citing robust economic development activity and the addition of over 21,000 new jobs in its service territories [9][10] - The company is positioned to benefit from the increasing demand for reliable energy, with expectations of improved pricing for its natural gas fleet as contracts come up for renewal [13][14] Other Important Information - Southern Company has a disciplined approach to pricing large load contracts, ensuring that existing customers benefit from the growth while maintaining rate stability [22][23] - The company is committed to preserving its strong investment-grade credit ratings while addressing $9 billion of equity needs [27][30] Q&A Session Summary Question: Inquiry about the company's long-term growth outlook beyond 2028 - Management highlighted confidence in achieving growth targets based on the execution of projects and economic expansion in service territories [45][46] Question: Clarification on the 3 GW of near-term load and its impact on the current plan - Management confirmed that the 3 GW contracts are included in the current forecast and are expected to be signed imminently [55][56] Question: Discussion on the impact of affordability legislation on data center projects - Management acknowledged ongoing conversations about the impact of legislation but expressed confidence in the continued advancement of data center projects [81][83] Question: Inquiry about the potential for new gas expansion and its alignment with data center needs - Management stated that any new gas development would be approached with a disciplined risk profile, ensuring long-term contracts with creditworthy counterparties [97]

Fourth Quarter 2025 Earnings Conference Call February 19, 2026 Cautionary Note Regarding Forward-Looking Statements Certain information contained in this presentation is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, financial objectives, earnings guidance, projected capital expenditures, planned financing activities, and other financial and operational projections. Southern Company and its s ...

Core Insights - Southern Co. reported $6.98 billion in revenue for the quarter ended December 2025, marking a year-over-year increase of 10.1% and an EPS of $0.55 compared to $0.50 a year ago, with revenue exceeding the Zacks Consensus Estimate of $6.86 billion by 1.7% [1] Financial Performance - The company delivered an EPS surprise of -1.79%, with the consensus EPS estimate being $0.56 [1] - Southern Co. shares returned +2.1% over the past month, while the Zacks S&P 500 composite experienced a -0.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance against the broader market in the near term [3] Operating Revenues Breakdown - Southern Power reported operating revenues of $472 million, below the estimated $510.01 million, but reflecting a +13.2% change year-over-year [4] - Total retail sales reached $35.33 billion, surpassing the three-analyst average estimate of $34.88 billion [4] - Southern Company Natural Gas generated $1.49 billion in operating revenues, exceeding the $1.27 billion estimate, with a year-over-year increase of +20.7% [4] - Georgia Power - Other Revenues were $222 million, below the two-analyst average estimate of $273.36 million, representing a year-over-year decline of -17.5% [4] - Mississippi Power - Retail Revenues were $261 million, exceeding the estimated $232.24 million, with a +15.5% year-over-year change [4] - Southern Company Gas - Gas Distribution Operations reported $1.31 billion, surpassing the $1.1 billion estimate, reflecting a +21.9% year-over-year change [4] - Retail Electric revenues were $4.27 billion, slightly below the $4.28 billion estimate, with a +6.7% year-over-year change [4] - Alabama Power reported $1.94 billion, slightly above the two-analyst average estimate of $1.93 billion, with a +10.6% year-over-year change [4] - Georgia Power generated $2.71 billion, exceeding the $2.65 billion estimate, reflecting a +4.9% year-over-year change [4] - Mississippi Power reported $394 million, surpassing the $356.15 million estimate, with a +14.2% year-over-year change [4]

Core Viewpoint - Southern Co. reported quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.56 per share, but showing an increase from $0.50 per share a year ago, indicating a slight earnings surprise of -1.79% [1] Financial Performance - The company posted revenues of $6.98 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.70%, and showing an increase from $6.34 billion year-over-year [2] - Over the last four quarters, Southern Co. has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - Southern Co. shares have increased approximately 4.4% since the beginning of the year, outperforming the S&P 500, which gained 0.5% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $1.24 on $8.11 billion in revenues for the coming quarter and $4.58 on $30.59 billion in revenues for the current fiscal year [7] - The estimate revisions trend for Southern Co. was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Utility - Electric Power industry, to which Southern Co. belongs, is currently in the top 36% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Core Insights - Southern Company forecasts annual profit below analysts' estimates and raises its five-year spending plan to support increasing power demands from large-load customers [1] Financial Performance - For the quarter ended December 31, Southern Company reported an adjusted profit of 55 cents per share, which is below the analysts' expectation of 57 cents [1] - Operating expenses increased by 14.7% during the quarter, while revenue rose by 10% [1] Spending Plans - Southern Company plans to spend approximately $81 billion from 2026 through 2030, an increase from its previous five-year plan of $76 billion [1] - The utility has contracted 10 gigawatts of large load customers, including major companies like Google, Meta, Microsoft, and Compass Datacenters [1] Market Position - Southern Company serves 9 million customers and ranks as the second-largest utility in the U.S., operating in Alabama, Georgia, Illinois, Mississippi, Tennessee, and Virginia [1]

Vancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: GPGCF) (FSE: V3H) ("Great Pacific Gold," "GPAC," or the "Company") announces the discovery of a new high-grade epithermal gold-copper vein at its flagship Wild Dog Project in Papua New Guinea, further supporting the Company's interpretation of repeated high-grade polymetallic mineralization along the 15-kilometre-long Wild Dog Structural Corridor.The newly identified Magiabe West Vein, located ...

Electricity Demand and Generation - Southern Company projects a significant increase in electricity sales demand, driven by data centers and large load customers, with approximately 13 GWs of certified resources expected to be constructed by Georgia Power, totaling $19.5 billion in costs by 2030[33]. - Southern Power's generation fleet reached 12,648 MWs of nameplate capacity in commercial operation as of December 31, 2025, including 5,268 MWs owned by subsidiaries[37]. - Southern Company has contracted with new data centers covering approximately 9 GWs of electric load, with contracts expected to ramp up over several years, starting service by 2028[33]. - The Southern Company system's construction program for 2026 is estimated at $15.9 billion, with $3.7 billion allocated for new generation and $3.2 billion for transmission[50]. - Projected demand for electricity significantly exceeds recent experience, driven by data centers and advanced manufacturing, necessitating substantial capital expenditures[222]. Natural Gas Operations - Southern Company Gas operates approximately 77,900 miles of natural gas pipelines and 14 storage facilities, serving around 4.4 million customers across four states[47]. - Southern Company Gas is developing a pipeline project to increase capacity by approximately 1.3 billion cubic feet per day, anticipated to be completed by 2029[48]. - Southern Company has contracted for 644 Bcf of natural gas supply for 2026, ensuring sufficient supply for its natural gas generating units[58]. - Southern Company Gas emphasizes natural gas as the fuel of choice through various promotional activities and partnerships[97]. - As of December 31, 2025, Southern Company Gas serves approximately 4.416 million customers across four states, with a total of 77.9 miles of natural gas distribution pipelines[86]. Financial Performance and Investments - Southern Power's average investment coverage ratio was 97% through 2030 and 89% through 2035, with 63% of contracted MWs associated with AAA to A- rated counterparties[43]. - Southern Company is involved in various acquisitions and dispositions, with ongoing efforts to expand its market presence and operational efficiency[26]. - The profitability of traditional electric operating companies is largely dependent on their ability to recover costs through approved retail rates, which may be affected by rising costs and increased capital expenditures[142]. - Southern Company and Southern Company Gas rely on cash flows from subsidiaries to meet financial obligations, including interest payments and dividends[219]. - A downgrade in credit ratings for Southern Company or its subsidiaries could increase borrowing costs and limit access to capital[220]. Regulatory Environment and Compliance - The regulatory environment for traditional electric operating companies includes oversight by state public service commissions and the Federal Energy Regulatory Commission (FERC)[100]. - Southern Company and its subsidiaries face substantial regulatory risks, including compliance costs related to federal, state, and local regulations, which could significantly impact their operations[140]. - Southern Company anticipates ongoing capital expenditures for environmental compliance, with specific costs not including GHG emissions regulation[60]. - Changes in laws and regulations, including those related to greenhouse gas emissions, could significantly influence the operating environment and financial performance of Southern Company[147]. - Regulatory constraints may prevent timely cost recovery for new generation and infrastructure, exposing subsidiaries to financial risks[223]. Environmental and Safety Considerations - Southern Company aims for a 50% reduction in greenhouse gas emissions from 2007 levels by 2030 and a long-term goal of net zero by 2050, though achieving these goals is projected to be extremely challenging[157]. - Environmental compliance costs are significant, with future expenditures expected to remain high due to evolving regulations and potential litigation[148]. - The operation of nuclear facilities poses inherent risks, with Alabama Power and Georgia Power's nuclear units representing approximately 22% and 36% of their total KWHs generated, respectively, in 2025[160]. - Southern Company management emphasizes a culture of safety, with a focus on preventing serious injuries and fatalities across its operations[136]. - In 2025, the Southern Company system reported a serious injury rate of 0.03 and no fatal injuries[136]. Market Competition and Risks - The traditional electric operating companies expect to continue facing competition from alternative energy sources and distributed generation technologies[90]. - Southern Power competes for wholesale energy sales across various U.S. utility markets, influenced by factors such as reliability, availability, and pricing[91]. - The market share of Subsidiary Registrants could be eroded if new technologies become cost-competitive, impacting their business models[186]. - Economic downturns and changes in customer behavior, including energy conservation efforts, could negatively impact customer growth and energy consumption[206]. - The traditional electric operating companies are increasing renewable resources, but production from wind and solar is highly dependent on variable weather conditions[176]. Operational Challenges and Risks - The Southern Company system must attract and retain a skilled workforce, with challenges arising from an aging workforce and potential mismatches in skill sets[187]. - The company is facing substantial risks related to project completion, including labor costs, contractor performance, and regulatory delays, which could lead to increased costs and project overruns[192]. - Significant engineering and design costs are being incurred in advance of project approvals, and cancellation of projects could result in substantial penalties and unrecoverable costs[193]. - The Registrants face heightened risks of cyberattacks, with increasing sophistication and frequency of attacks targeting energy infrastructure, particularly during geopolitical tensions[168]. - Supply chain disruptions and inflation have led to higher prices for critical components and materials, negatively affecting operations and cost recovery[189].

Company Performance - Southern Silver Exploration Corp. has been ranked 28th in the 2026 TSX Venture 50, which recognizes the top performing companies on the TSX Venture Exchange [1][2] - The company experienced a market capitalization increase of 401% and a share price increase of 284% during 2025 [1][2] Project Development - Significant progress has been made at the Cerro Las Minitas project in Durango, Mexico, which is a silver, lead, and zinc project [2] - The company is advancing towards a production decision by expanding, de-risking, and demonstrating the economic potential of the Cerro Las Minitas project [2][3] Company Overview - Southern Silver Exploration Corp. focuses on the discovery of world-class mineral deposits, primarily through its 100% owned Cerro Las Minitas project [3] - The company also holds other properties, including the newly acquired Nazas gold-silver property and the Oro porphyry copper-gold project [3]

Core Viewpoint - Investors should closely monitor Southern Missouri Bancorp, Inc. (SMBC) due to significant movements in the options market, particularly the high implied volatility of the Mar 20, 2026 $30 Put option [1] Company Analysis - Southern Missouri Bancorp currently holds a Zacks Rank of 3 (Hold) within the Financial - Savings and Loan industry, which is positioned in the top 10% of the Zacks Industry Rank [3] - Over the past 30 days, one analyst has raised the earnings estimate for the current quarter, resulting in an increase of the Zacks Consensus Estimate from $1.53 per share to $1.55 [3] Options Market Insights - The high implied volatility suggests that options traders are anticipating a significant price movement for Southern Missouri Bancorp shares, potentially indicating an upcoming event that could lead to a major rally or sell-off [2][4] - Seasoned options traders often seek out options with high implied volatility to sell premium, aiming to benefit from the decay of the option's value if the underlying stock does not move as much as expected [4]