Q1 25 EPS
$1.23
Q1 25 Revenue
$7.78B
vs S&P Since Q1 25
-18.4%
TRAILING MARKET
SO +8.8% vs S&P +27.2%
Market Reaction
Did SO Beat Earnings? Q1 2025 Results
Southern Company opened 2025 on firm footing, reporting first-quarter adjusted earnings of $1.23 per share, a 19.4% jump from $1.03 in the year-ago period, as total consolidated revenues climbed 17.0% to $7.78 billion. The Atlanta-based utility's Tra… Read more Southern Company opened 2025 on firm footing, reporting first-quarter adjusted earnings of $1.23 per share, a 19.4% jump from $1.03 in the year-ago period, as total consolidated revenues climbed 17.0% to $7.78 billion. The Atlanta-based utility's Traditional Electric Operating Companies were the primary growth engine, with Georgia Power alone posting a 26.6% surge in operating revenues to $3.04 billion and net income climbing 36.4% to $596.00 million, reflecting rate case outcomes and robust load growth across its service territory. Rate-related retail electric revenue impacts contributed 25 cents per share year-over-year, with favorable weather adding another 8 cents, though higher O&M expenses, rising depreciation, and a $49.00 million increase in interest expense to $714.00 million partially offset those gains. Looking ahead, the company expects to continue incurring Kemper County dismantlement charges through year-end 2025, while the Kay Wind repowering project at Southern Power carries roughly $100.00 million in projected accelerated depreciation before its anticipated Q3 2026 commercial operation, a reminder that Southern Company's elevated capital program remains a defining feature of its long-term earnings profile.
Key Takeaways
- • Higher utility revenues, primarily retail revenue impacts (rate-related) contributing 25 cents per share YoY
- • Favorable weather impact contributing 8 cents per share YoY
- • Wholesale and other operating revenues contributing 10 cents per share YoY
- • Traditional Electric Operating Companies contributed $0.19 per share improvement
- • Total kilowatt-hour sales increased 4.2% YoY
- • Regulated utility customer base grew 0.8% to approximately 8.97 million
SO YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
SO Revenue by Segment
With YoY comparisons, source: SEC Filings
“We've had a solid start to the year for Southern Company, and we've demonstrated yet again that our customer-centric business model and focus on providing reliable and affordable energy for our 9 million customers continues to serve our stakeholders well.”
— Chris Womack, Q1 2025 Earnings Press Release
SO Earnings Trends
SO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SO EPS Trend
Earnings per share: estimate vs actual
SO Revenue Trend
Quarterly revenue: estimate vs actual
SO Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.32 | — | $8.40B | — |
| Q4 25 MISS FY | $0.57 | $0.55 | -3.51% | $6.98B | — |
| FY Full Year | $4.29 | $4.30 | +0.31% | $29.55B | +3.30% |
| Q3 25 | — | $1.60 | — | $7.82B | — |
| Q2 25 | — | $0.92 | — | $6.97B | — |
| Q1 25 | — | $1.23 | — | $7.78B | — |