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Southern Co beats quarterly profit estimates on greater sales

Energy firm Southern Co. topped Wall Street estimates on Thursday, buoyed by increased. electricity sales and property consumer additions.

The U.S. Energy Information Administration (EIA) projections. record-high power demand in 2024 and 2025, driven by growing. artificial intelligence requirements and information center expansion.

The Atlanta, Georgia-based business kept in mind a 10% increase in use. by existing business information centers for the quarter compared to. 2023.

This rise in demand from energy-intensive AI data. centers has actually revitalized the U.S. power industry, sparking a. wave of deals and regulative discussions over growth costs.

The business experienced a 1.1% boost in kilowatt-hour. sales, led by commercial clients, which offset a 0.4% hit from. Cyclone Helene in the quarter.

Southern Business, the second-largest U.S. utility by. client base, serves six states: Alabama, Georgia, Illinois,. Mississippi, Tennessee, and Virginia.

Third-quarter operating profits increased 4% to $7.27 billion,. with 19,000 new property clients added.

The company raised its full-year profits per share quote. to $4.05, the upper end of its previous $3.95-$ 4.05 variety, ahead. of experts' $4.03 price quote.

For the quarter ended September 30, Southern reported an. adjusted earnings of $1.43 per share, beating expert price quotes of. $ 1.34 per share, according to data put together by LSEG.

(source: Reuters)