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Increased Energy Consumption Boosts Southern Company's Q2 Performance: Details
Southern Company (NYSE:SO) shares are trading lower after the company reported a second-quarter 2024 operating revenue rose 12.4% Y/Y to $6.463 billion, beating the consensus of $6.099 billion.
Operating revenues by segment: Alabama Power $1.873 billion (+10.9% Y/Y), Georgia Power $2.875 billion (+20.2% Y/Y), Mississippi Power $364 million (+17.0% Y/Y), Southern Power $524 million (-0.2% Y/Y) and Southern Company Gas $831 million (-2.5% Y/Y).
Total Regulated Utility Customers increased 0.8% Y/Y, with Total Traditional Electric +1.2% and Southern Company Gas +0.4%. Kilowatt-Hour Sales rose by 3.9% Y/Y, with Retail sales up 5.8% and Wholesale sales down 1.1%.
Operating expenses rose to $4.52 billion from $4.46 billion in ...