Q2 25 EPS
$0.92
Q2 25 Revenue
$6.97B
vs S&P Since Q2 25
-11.5%
TRAILING MARKET
SO +4.4% vs S&P +15.9%
Market Reaction
Did SO Beat Earnings? Q2 2025 Results
Southern Company delivered a mixed second quarter for 2025, posting adjusted earnings of $0.92 per share on revenues of $6.97 billion, a 7.9% revenue gain from the prior year that nonetheless came alongside an 18-cent decline in non-GAAP EPS as cost … Read more Southern Company delivered a mixed second quarter for 2025, posting adjusted earnings of $0.92 per share on revenues of $6.97 billion, a 7.9% revenue gain from the prior year that nonetheless came alongside an 18-cent decline in non-GAAP EPS as cost pressures mounted across the business. The Atlanta-based utility's GAAP results were more sharply affected, with net income falling 26.8% to $880 million, dragged lower by $129 million in pre-tax losses tied to the extinguishment of convertible senior notes and accelerated depreciation charges related to wind facility repowering at Southern Power. Georgia Power, the company's largest subsidiary, saw net income drop 20.3% to $607 million despite an 8.2% revenue increase, while Alabama Power offered a bright spot with a 3.3% gain. Weather-adjusted retail sales growth of 3.0% and strong industrial demand pointed to underlying demand momentum, and the company's 78-year dividend streak remains intact with a 74-cent quarterly payment. Management said it remains on track to meet its full-year 2025 goals, even as wind repowering depreciation charges are expected to continue through mid-2027.
Key Takeaways
- • Higher utility revenues driven by retail revenue impacts and retail sales growth
- • Higher non-fuel operations and maintenance expenses as a headwind
- • Prior year gains on transmission asset sales not repeated
- • Milder weather negatively impacted results by 7 cents per share
- • Higher income taxes, depreciation and amortization, and interest expense
- • Industrial kilowatt-hour sales growth of 2.8%
- • Weather-adjusted total retail sales growth of 3.0%
- • Commercial sales growth of 1.3% (3.5% weather-adjusted)
SO YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
SO Revenue by Segment
With YoY comparisons, source: SEC Filings
“This is an exciting time for Southern Company. We performed well both financially and operationally through the first half of the year and remain well positioned to deliver on our 2025 goals.”
— Chris Womack, Q2 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 | — |