Southern Company reported first quarter 2026 revenues of $8.4 billion, an 8% increase from the prior year. GAAP earnings were $1.4 billion, or $1.21 per share, flat compared to the first quarter of 2025. On an adjusted basis, earnings per share came in at $1.32, up from $1.23 in the same period last year.
Key Highlights
- Operating revenues increased 8.0% year-over-year to $8.4 billion, driven by higher utility revenues across both electric and gas segments.
- On a weather-adjusted basis, total retail electricity sales grew 2.3%, led by a 4.6% increase in the commercial customer class, indicating healthy underlying demand.
- Southern Power's net income fell to $4 million from $87 million year-over-year, impacted by $154 million in pre-tax charges for accelerated depreciation on wind facilities being repowered.