Robust Performance Highlighted by Increased Utility Revenues and Successful Expansion of Clean Energy Capabilities
Electric and gas utility Southern Co said on Thursday industrial sales have started to show signs of recovery following a soft 2023, after customer growth and higher electricity usage drove a first-quarter profit beat. Retail electricity saw robust customer growth, the company said. It added more than 13,000 residential electric customers and over 7,000 residential gas customers.
Southern Co. (SO) delivered earnings and revenue surprises of 14.44% and 5.67%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?