Q1 2025 Southern Co Earnings Call Transcript
Key Points
- Southern Co (SO) reported adjusted earnings for the first quarter above estimates, with year-over-year growth across all major businesses.
- The Southeast region, where Southern Co operates, continues to show economic resilience with robust economic development activity.
- Southern Co's state-regulated electric utilities are experiencing customer growth, particularly in data centers, which saw an 11% year-over-year increase in sales.
- The company has a strong financial outlook, supported by disciplined execution and constructive regulatory frameworks.
- Southern Co's Board of Directors approved an $0.08 per share increase in the annual common dividend, marking the 24th consecutive annual increase.
- Southern Co faces policy uncertainty regarding tariffs, which could lead to potential cost increases of 1% to 3% in their base capital plan.
- The company's adjusted EPS estimate for the second quarter is lower than the previous year, partly due to weather-related impacts and timing of transactions.
- Retail electricity sales were 0.3% lower than the first quarter of 2024, driven by reduced usage in the residential customer class.
- Higher operating costs, depreciation, and amortization partially offset the positive earnings impact from investments and weather-related factors.
- Southern Co's financing activities include significant debt issuance, which may impact future financial flexibility and interest costs.
Good afternoon. My name is Paul, and I will be your conference operator today. At this time, I would like to welcome everyone to the Southern Company first-quarter 2025 earnings call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the call over to Mr. Greg MacLeod, Director, Investor Relations. Please go ahead, sir.
Thank you, Paul. Good afternoon, and welcome to Southern Company's first-quarter 2025 earnings call. Joining me today are Chris Womack, Chairman, President and Chief Executive Officer of Southern Company; and Dan Tucker, Chief Financial Officer.
Let me remind you that we will make forward-looking statements today in addition to providing historical information. Various important factors could cause actual results to differ materially from those indicated in the forward-looking statements, including those discussed in our Form 10-K, Form 10-Q and subsequent securities filings. In addition, we will present non-GAAP financial
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