Southern Co (SO) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 23, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

1.23

Last Year’s EPS

1.23

Same Quarter Last Year

Analyst Consensus

Hold

Based on 13 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 19, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a strongly positive operational and financial outlook: EPS beat and growth, robust retail and commercial (data center) demand, a very large signed and prospective large-load pipeline, upgraded sales and earnings guidance, and proactive financing to support a materially expanded $81B five-year capital plan. Risks were acknowledged — higher O&M, depreciation and interest costs, substantial near-term capex increases requiring continued financing and regulatory approvals, timing variability in customer load ramps, and policy/regulatory noise around data centers — but management articulated mitigations (contract minimums, collateral, rate-stabilization agreements, proactive equity issuance, secure supply arrangements) and expressed confidence in execution. Overall, highlights and forward-looking upside materially outweigh the discussed challenges.

Company Guidance

Southern Company provided multi‑year guidance and detailed metrics: 2026 adjusted EPS guidance of $4.50–$4.60 (Q1 estimate $1.20), versus $4.30 adjusted EPS in 2025 (top of guidance), implying roughly 7% year‑over‑year growth; management expects 8%–9% adjusted EPS CAGR from 2026–2028 with 2027 guidance $4.85–$4.95 (~8% up) and 2028 $5.25–$5.45 (~9% up), about 7%–8% annual growth thereafter and an average 8% annual EPS growth from the 2026 midpoint to 2030. Electricity volumes are expected to accelerate (≥3% retail sales growth in 2026; ~10% average annual retail sales growth 2026–2030; Georgia Power ~13% over that period), supported by a >75 GW large‑load pipeline with 26 signed contracts totaling 10 GW (up 2 GW QoQ, 4 GW YoY), 8 GW of five‑year ramps and 10 GW beyond 2030, plus ~10 GW in late‑stage discussions (3 GW highly likely). The $81 billion five‑year base capital plan (95% regulated) is up ~$18 billion (~30%) year‑over‑year with ~$42 billion expected through 2030 and ~9% average annual regulated rate base growth; Southern Power has ~1,000 MW remarketing opportunity by 2030 and is evaluating up‑rates up to ~700 MW. Financing and credit targets include addressing ~$9 billion of 2025 equity needs (including $4B ATM with forwards and $2B mandatory convertible), nearly all settled by 2028, an incremental ~$2B equity need to 2030, a target FFO/debt of ~15% through 2027 improving toward ~17% by 2029, planned dividend modest increases with payout falling to the low‑ to mid‑60% range, and upside potential from capacity repricing observed at roughly 2–3x (market examples near $20–$25/kW‑month).

Strong Adjusted EPS Performance

Adjusted earnings per share of $4.30 for 2025 (top of guidance), representing 6% growth year-over-year and 9% average annual growth since 2023; 11th consecutive year at or above guidance.

Retail Electricity Sales and Customer Growth

Weather-normalized total retail electricity sales up 1.7% in 2025 vs. 2024 (more than double the cumulative growth of the prior decade); residential additions of ~39,000 new electric customers and ~25,000 new natural gas customers; industrial sales +1.4% with gains in 4 major segments.

Data Center / Commercial Demand Surge

Commercial (data center) usage up 17% year-over-year for the second consecutive year; large load pipeline expanded to over 75 GW with 26 signed contracts representing 10 GW fully contracted (2 GW higher quarter-over-quarter, 4 GW higher year-over-year) and 8 GW of contracted ramp within the five-year horizon.

Upgraded Long-Term Sales Forecast and Near-Term Growth

Company projects at least 3% retail sales growth across its 3 electric utilities in 2026 and an average annual retail electricity sales growth of 10% from 2026–2030 (a 2 percentage-point upgrade to prior long-term sales projections); Georgia Power forecast at ~13% growth over the same period.

Ambitious Capital Investment Plan with Rate-Base Growth

Base capital investment forecast of $81 billion over the next five years (95% at state-regulated utilities), a $18 billion (≈30%) increase versus a year ago; supports projected average annual rate-base growth of ~9% through 2030.

Proactive Financing and Credit Focus

Proactively addressed ~$9 billion of equity needs in 2025 (including $4B ATM with forwards and $2B mandatory convertible); nearly all expected to be issued or settled by 2028; projects maintaining ~15% FFO-to-debt through 2027 and targeting ~17% by 2029 with remaining equity need of ~ $2B through 2030.

Multi-Year Earnings Guidance and Acceleration

2026 adjusted EPS guidance of $4.50–$4.60 (≈7% growth), Q1 estimate $1.20; initial guidance for 2027 $4.85–$4.95 (~8% growth) and 2028 $5.25–$5.45 (~9% growth); average annual adjusted EPS growth ~8% from the 2026 midpoint to 2030.

Operational Resilience and Recognition

Successfully supported second-highest winter peak (>39,000 MW) during Winter Storm Fern; deployed AI tools and self-healing networks to improve restoration; named #1 electric & gas utility on Fortune Magazine’s Most Admired Companies list for 2026.

Southern Co (SO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2026	2026 (Q1)	1.23 / -	1.23	―	―	―
Feb 19, 2026	2025 (Q4)	0.56 / 0.55	0.5	10.00% (+0.05)
Oct 30, 2025	2025 (Q3)	1.51 / 1.60	1.43	11.89% (+0.17)
Jul 31, 2025	2025 (Q2)	0.88 / 0.92	1.09	-15.60% (-0.17)
May 01, 2025	2025 (Q1)	1.20 / 1.23	1.03	19.42% (+0.20)
Feb 20, 2025	2024 (Q4)	0.51 / 0.50	0.64	-21.88% (-0.14)
Oct 31, 2024	2024 (Q3)	1.34 / 1.43	1.42	0.70% (+0.01)
Aug 01, 2024	2024 (Q2)	0.93 / 1.09	0.79	37.97% (+0.30)
May 02, 2024	2024 (Q1)	0.90 / 1.03	0.79	30.38% (+0.24)
Feb 15, 2024	2023 (Q4)	0.60 / 0.64	0.26	146.15% (+0.38)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 19, 2026	$91.04	$95.05	+4.40%
Oct 30, 2025	$92.02	$93.56	+1.67%
Jul 31, 2025	$92.66	$92.25	-0.44%
May 01, 2025	$88.97	$88.55	-0.47%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Southern Co (SO) report earnings?

Southern Co (SO) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).

What is Southern Co (SO) earnings time?

Southern Co (SO) earnings time is at Apr 23, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is SO EPS forecast?

SO EPS forecast for the fiscal quarter 2026 (Q1) is 1.23.