Southern's Revenue Misses Analysts' Consensus
February 20 2020 - 8:28AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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