Southern Co's 2Q Profit Slips; Adjusted Earnings Beat Analysts' Expectations
July 29 2021 - 7:33AM
Dow Jones News
By Allison Prang
Southern Co.'s earnings fell but revenue climbed, with the
company's top line and adjusted earnings beating Wall Street
analyst's estimates.
The energy company's profit was $372 million, down from $612
million. Earnings were 35 cents a share, down from 58 cents a
share.
Adjusted earnings were 84 cents a share. According to FactSet,
analysts were expecting 79 cents a share.
Revenue was $5.2 billion, up from $4.62 billion. Analysts were
expecting $5.05 billion.
Earnings were affected by a $343 million after-tax charge
related to Georgia Power's construction of Plant Vogtle units 3 and
4, Southern said.
Operating expenses rose to $4.49 billion in the quarter from
$3.56 billion in the comparable period a year ago.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 29, 2021 07:26 ET (11:26 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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