Southern Company adds new independent director

ATLANTA – Southern Company (NYSE:SO), a leading energy provider with a market capitalization of nearly $98 billion, has announced the election of James O. Etheredge as an independent director to its Board of Directors, effective April 1, 2025. The announcement was made today by the company’s chairman, president, and CEO Chris Womack. According to InvestingPro data, the company maintains a GOOD overall financial health score and has impressively raised its dividend for 23 consecutive years.

Etheredge brings a wealth of experience to the board, having served as CEO - North America of Accenture plc (NYSE:ACN) until August 2023 and subsequently as a special advisor. His tenure at Accenture included driving results for an 80,000-member team and executing strategies across various practices, including AI and cloud technologies. Prior to his role as CEO, Etheredge was Senior Managing Director of US Southeast at Accenture, overseeing business operations in ten states.

His expertise extends to the utilities industry, where he has advised clients both in the U.S. and internationally. Etheredge’s commitment to service and excellence is further demonstrated by his involvement with the Federal Reserve Bank of Atlanta and various non-profit organizations.

Etheredge’s background aligns with Southern Company’s objectives, particularly in leadership and innovation, as the company continues to focus on providing clean, safe, reliable, and affordable energy. Southern Company is actively working towards a goal of net-zero greenhouse gas emissions by 2050, emphasizing resilience and sustainability.

Southern Company, serving 9 million customers across the Southeast and beyond, operates electric companies in three states and natural gas distribution companies in four states, among other endeavors. The company’s dedication to transforming energy into economic, environmental, and social progress has been recognized with numerous awards and recognitions.

The information regarding Etheredge’s election to the Board of Directors is based on a press release statement from Southern Company.

In other recent news, Southern Company reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company’s adjusted earnings per share (EPS) were $0.50, missing the analyst estimate of $0.53 by $0.03. However, Southern Co . slightly exceeded revenue expectations, posting $6.34 billion compared to the consensus estimate of $6.31 billion, marking a 4.9% increase from the previous year. For the full year 2024, the company reported earnings of $4.4 billion, or $4.02 per share, an improvement from $4.0 billion, or $3.64 per share, in 2023.

In other developments, Mizuho (NYSE:MFG) Securities adjusted its outlook on Southern Co., raising the stock price target to $90 from $85 while maintaining a Neutral rating. This adjustment followed Southern Co.’s announcement of a new capital investment plan for 2025 to 2029, set at $62.8 billion, a 30% increase over the previous plan. The company anticipates this investment will spur a rate base growth of 7%, with a potential upside of $10 billion to $15 billion that could push growth to 8%. Southern Co. also reiterated its expectation for an EPS growth rate of 5-7%, based on the midpoint of its 2024 guidance.

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