Southern Company (NYSE:SO) stock rose after the company reported first-quarter fiscal 2026 results.

The energy solutions company reported:

  • Adjusted EPS of $1.32, above the $1.21 consensus, with revenue of $8.4 billion also beating estimates of $8.02 billion.
  • Operating revenue growth of 8.0% year over year (Y/Y) in the quarter. 
  • Operating expenses rose to $6.4 billion from $5.8 billion in the quarter.

Segment Operating Revenues

  • Alabama Power $2.092 billion (+4.0% Y/Y)
  • Georgia Power $3.142 billion (+3.5% Y/Y)
  • Mississippi Power $472 million (+12.4 % Y/Y)
  • Southern Power $681 million (+20.1% Y/Y) and
  • Southern Company Gas $2,191 billion (+19.1 % Y/Y).

Key Metrics

Kilowatt-hour sales rose 3.5% year over year, with retail sales up 0.4% and wholesale sales up 12.9%, alongside growth in commercial (+4.2%), residential (-4.1%), and industrial (+1.5%) businesses.

As of the end of March, Total Regulated Utility Customers increased 0.8%, with Total Traditional Electric Operating Companies rising 1.1% and Southern Company Gas up 0.5%. 

Outlook

The company reaffirmed its FY26 adjusted EPS guidance of $4.50–$4.60 (vs. $4.57 consensus) and outlined FY2028 adjusted EPS expectations of $5.25–$5.45 (vs. street view of $5.35).

Southern sees second-quarter adjusted EPS of $1.00, slightly below the $1.03 consensus estimate.

SO Price Action: Southern shares were up 2.44% at $95.79 at the time of publication on Thursday, according to Benzinga Pro data.

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