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ATLANTA - Southern Company (NYSE:SO) reported fourth-quarter 2024 earnings on Thursday that fell short of analyst expectations, despite a slight beat on revenue.
The utility company’s adjusted earnings per share (EPS) came in at $0.50, missing the analyst estimate of $0.53 by $0.03.
Southern Co ’s revenue for the quarter reached $6.34 billion, slightly above the consensus estimate of $6.31 billion and representing a 4.9% increase from $6.0 billion in the same quarter last year.
The company’s operating revenues for the full year 2024 totaled $26.7 billion, up 5.8% from $25.3 billion in 2023.
The company reported fourth-quarter earnings of $534 million, or $0.49 per share, compared to $855 million, or $0.78 per share, in the fourth quarter of 2023.
Excluding certain items, adjusted earnings for the quarter were $544 million, or $0.50 per share, down from $700 million, or $0.64 per share, in the same period last year.
For the full year 2024, Southern Co reported earnings of $4.4 billion, or $4.02 per share, up from $4.0 billion, or $3.64 per share, in 2023.
Adjusted earnings for 2024 were $4.4 billion, or $4.05 per share, compared to $4.0 billion, or $3.65 per share, in the previous year.
The company attributed the full-year earnings growth to higher utility revenues, partially offset by increased non-fuel operations and maintenance expenses, interest expense, depreciation and amortization, and income taxes.
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