SO Southern Co

By Allison Prang

Southern Co.'s fourth-quarter profit rose, but revenue fell short of analysts' consensus by a big margin.

The company reported $445 million in net profit for the quarter, or $440 million before preferred dividends. Earnings were 42 cents a share. That was up from a year earlier, when profit was $282 million, or $278 million before preferred dividends, and earnings were 27 cents a share.

Adjusted earnings were 27 cents a share, up from 25 cents a share. According to FactSet, analysts were expecting 27 cents a share.

Revenue was $4.91 billion, down 7.9%. Analysts expected $5.29 billion. The company said its fall in revenue for 2019 and the fourth quarter reflects the "dispositions of Gulf Power and other assets."

Operating expenses fell 11% to $4.22 billion. The company's income tax benefit was about half of what it was a year earlier but it also reported net "other income" of $13 million. It recorded $81 million in net other expense a year ago.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

February 20, 2020 08:13 ET (13:13 GMT)

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