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Southern Company reports first-quarter 2024 earnings

Southern Company today reported first-quarter earnings of $1.1 billion, or $1.03 per share, in 2024 compared with earnings of $862 million, or 79 cents per share, in the first quarter of 2023.

Excluding the items described under “Net Income – Excluding Items” in the table below, Southern Company earned $1.1 billion, or $1.03 per share, during the first quarter of 2024, compared with $867 million, or 79 cents per share, during the first quarter of 2023.

Non-GAAP Financial Measures

Three Months Ended March

Net Income – Excluding Items (in millions)



Net Income – As Reported

$                1,129

$                   862




Estimated Loss on Plants Under Construction



Tax Impact



Loss on Extinguishment of Debt



Tax Impact



Net Income – Excluding Items

$                1,132

$                   867

Average Shares Outstanding – (in millions)                     



Basic Earnings Per Share - Excluding Items

$                  1.03

$                  0.79

NOTE: For more information regarding these non-GAAP adjustments, see the footnotes accompanying the Financial Highlights page of the earnings package.

Adjusted earnings drivers for the first quarter 2024, as compared with 2023, were higher utility revenues, partially offset by increased interest expense and depreciation and amortization.

First-quarter 2024 operating revenues were $6.6 billion, compared with $6.5 billion for the first quarter of 2023, an increase of 2.6%.

“All our businesses experienced a strong start to 2024,” said Chairman, President and CEO Christopher C. Womack. “This performance was driven by a variety of factors, including investments in our state-regulated utilities, weather that was less mild than the first quarter of last year and higher weather-adjusted sales in our electric utilities' commercial customer class, a fact that speaks to strong local economies and increased usage by many existing data center customers.”

“We were also pleased to announce earlier this week that Plant Vogtle Unit 4 has achieved commercial operation,” added Womack. “New units 3 and 4 are now positioned to deliver more than 2,200 megawatts of reliable, carbon-free energy for decades to come. With all four units operational, Plant Vogtle is now the largest generator of clean energy in the United States. This monumental achievement is a testament not only to the commitment and perseverance of our Southern Company team, but to the hard work and dedication of thousands of American craft workers and engineers, our Plant Vogtle co-owners and enlightened regulators who championed the development of new nuclear generation.” 

Southern Company’s first-quarter earnings slides with supplemental financial information are available at

Southern Company’s financial analyst call will begin at 1 p.m. Eastern Time today, during which Womack and Chief Financial Officer Daniel S. Tucker will discuss earnings and provide a general business update. Investors, media and the public may listen to a live webcast of the call and view associated slides at A replay of the webcast will be available on the site for 12 months.

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