Southern Company
Operator of Southeastern electric utilities, multi-state gas networks, and wholesale generation.
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Profile
Delivers regulated electricity through Alabama Power, Georgia Power, and Mississippi Power and distributes natural gas through Southern Company Gas. Regulated utilities anchor the business, complemented by Southern Power’s competitive wholesale generation and battery-storage portfolio.
Supplies electricity through Alabama Power, Georgia Power, and Mississippi Power, vertically integrated utilities that own generation, transmission, and distribution systems across the Southeast. Their regulated retail operations serve homes and businesses, while wholesale sales extend beyond those service territories.
Adds natural-gas distribution through Southern Company Gas in Illinois, Georgia, Virginia, and Tennessee. Southern Power develops, owns, and operates generation and battery-storage assets for competitive wholesale markets, while PowerSecure provides distributed energy and resilience systems.
Combines state-regulated networks with contracted and market-based power sales, supported by a generation mix that includes nuclear, natural gas, coal, hydroelectric, solar, and wind. Results from regulated utilities depend on state utility commissions approving rates and cost recovery, while wholesale generation depends on power contracts and counterparties.
Company facts
Key statistics
Year to date +1.2% · Average volume (30d) 5.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Truist Financial | Target | $100 | $97 | ||
| Jul 31, 2026 | Mizuho Securities | Target | $105 | $106 | ||
| Jul 27, 2026 | BMO Capital | Reiterate | Outperform | $102 | $104 | |
| Jul 23, 2026 | KeyBanc | Downgrade | Sector Weight | Underweight | $76 | $79 |
| Jul 22, 2026 | BMO Capital | Reiterate | Outperform | $80 | $102 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.01 | $1.13 | +11.9% | $7.23B | $6.98B | −3.5% | −1.78% |
| Apr 30, 2026Q1 FY26 | $1.21 | $1.32 | +9.1% | $8.07B | $8.40B | +4.0% | +0.01% |
| Feb 19, 2026Q4 FY25 | $0.56 | $0.55 | −1.4% | $6.10B | $6.98B | +14.5% | −0.79% |
| Oct 30, 2025Q3 FY25 | $1.51 | $1.60 | +6.0% | $7.62B | $7.82B | +2.7% | −1.08% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $7.78B | $6.97B | $7.82B | $6.98B | $8.40B | $6.98B | |
| Gross profit | $3.74B | $3.49B | $4.30B | $1.31B | $3.90B | $3.58B | |
| Operating income | $2.01B | $1.76B | $2.59B | $911.0M | $2.02B | $1.78B | |
| Net income | $1.33B | $880.0M | $1.71B | $416.0M | $1.36B | $1.17B | |
| Diluted EPS | $1.21 | $0.80 | $1.54 | $0.37 | $1.20 | $1.03 | |
| Gross margin | 48.1% | 50.1% | 55.0% | 18.8% | 46.5% | 51.3% | |
| Operating margin | 25.9% | 25.3% | 33.2% | 13.0% | 24.0% | 25.5% |
Fiscal years (4-quarter sums)FY21 $23.11B · FY22 $29.28B · FY23 $25.25B · FY24 $26.72B · FY25 $29.55B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.98B · Total debt $77.09B · Total assets $162.03B · Shareholders' equity $39.57B
Dividends
Raised for 43 straight years — most recently to $0.76 from $0.74 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Sep 8 | $0.76 | |
| May 18, 2026 | May 18 | Jun 8 | $0.76 | raised from $0.74 |
| Feb 17, 2026 | Feb 17 | Mar 6 | $0.74 | |
| Nov 17, 2025 | Nov 17 | Dec 8 | $0.74 | |
| Aug 18, 2025 | Aug 18 | Sep 8 | $0.74 | |
| May 19, 2025 | May 19 | Jun 6 | $0.74 | raised from $0.72 |
| Feb 18, 2025 | Feb 18 | Mar 6 | $0.72 | |
| Nov 18, 2024 | Nov 18 | Dec 6 | $0.72 |
Ownership
Shares outstanding 1.15B · Float 1.15B · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 92.99M | 8.08% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 73.67M | 6.40% | 13F | Aug 13, 2026 |
| State Street Corp | 64.81M | 5.63% | 13F | Aug 7, 2026 |
| Capital World Investors | 62.52M | 5.43% | 13F | Aug 12, 2026 |
| Price T Rowe Associates Inc /MD/ | 46.42M | 4.03% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 6, 2026 | Sterling A. Jr. Spainhour | officer: EVP & CLO | −3,333 | $94.02 |
| Aug 3, 2026 | Matthew M. Kim | officer: Comptroller | −100 | $94.28 |
| Jul 1, 2026 | Matthew M. Kim | officer: Comptroller | −100 | $95.77 |
| Jun 1, 2026 | Matthew M. Kim | officer: Comptroller | −100 | $91.16 |
| May 1, 2026 | Matthew M. Kim | officer: Comptroller | −100 | $96.57 |
Peers
- NextEra Energy
World's largest renewable generator and SO's nearest large-cap Southeast neighbor.
- Duke Energy
Largest U.S. regulated utility by Southeast customers; directly named SO peer across Carolinas and adjacent markets.
- Entergy
Closest Deep South geographic peer; Entergy Mississippi directly abuts Mississippi Power's service territory.
- Dominion Energy
Regulated electric and nuclear utility in Virginia/Carolinas; pending NEE merger intensifies long-term Southeast competitive pressure.
- American Electric Power
Nation's largest transmission network; competes for wholesale and industrial-load contracts across adjacent Southeast territories.
- Constellation Energy
Largest U.S. nuclear operator; competes with Southern's nuclear fleet for carbon-free baseload power deals with hyperscalers.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| NextEra Energy | $81.84 | +0.02% | $170.72B | 18.3 | 19.9 | 5.9 | +12.5% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| Entergy | $105.75 | +0.03% | $49.35B | 27.1 | 22.6 | 3.7 | +5.9% |
| Dominion Energy | $65.52 | −0.02% | $57.63B | 22.8 | 17.1 | 3.1 | +17.6% |
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| Constellation Energy | $277.11 | +0.13% | $99.38B | 26.9 | 22.4 | 3.2 | +23.0% |
| Median | 22.0 | 19.2 | 3.2 | +9.7% |