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17:00
Jul 30 ◎

SO FY2026 Q2 Watch

Southern Company (The) (SO) FY2026 Q2 Earnings Call

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David Poroch

Amazon continues to expand its physical footprint in Southern's territory, contributing to industrial and commercial load growth.

"a new Amazon warehouse in Georgia."

AMZN WATCH

Chris Womack

OpenAI is a major new large-load customer for Southern Company, committing to a 3.2 GW contract with 1 GW of flexible demand response, signifying strong demand from AI hyperscalers.

"Georgia Power signed a 3.2 gigawatt 25-year contract for electric service with OpenAI for its recently announced site near Savannah, Georgia."

OPENAI WATCH

Chris Womack

Southern Company's recent contract signings have pushed its committed load beyond its approved generation capacity, creating immediate incremental capital needs for new gas, solar, and battery resources. — This implies a faster and larger pipeline of new generation projects in the Southeast, providing a stable and growing backlog for power equipment and EPC providers.

"The open hour contract in Georgia pushes us beyond our recently approved capacity by right around one gigawatt."

GEV WATCH ETR WATCH

David Poroch

Management clearly signals a strong, improving outlook driven by robust data center and industrial load growth, with rates held stable, positioning the company for long-term growth.

"we now project our full year 2026 adjusted earnings to be near or at the top of our 2026 adjusted EPS guidance range of $4.50 to $4.60."

SO WATCH

HIGH

17:00
Apr 30 ◎

SO FY2026 Q1 Watch

Southern Company (The) (SO) FY2026 Q1 Earnings Call

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Chris Womack

Hyundai is investing in a new facility in NICOR's gas territory, creating jobs and adding load, which is positive for Southern Company's gas utility segment.

"...a recently announced Hyundai investment in Illinois that is expected to bring 2,500 jobs and $500 million of investment to the NICOR gas service territory."

HYMTF WATCH

Chris Womack

Management expresses strong confidence in the future, underscored by robust load growth from data centers, a large project pipeline, signed contracts, and the stability provided by regulatory frameworks and DOE loans, all supporting a long-term growth target.

"As we conclude our discussion today, our first quarter results reinforce a simple point. Our company is delivering. We're off to a strong start in 2026, and that momentum gives us confidence as we continue executing our long-term goals."

SO WATCH

HIGH

18:00
Feb 19 ◎

SO FY2025 Q4 Watch

Southern Company (The) (SO) FY2025 Q4 Earnings Call

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Chris Womack

U.S. Steel is expanding operations in Southern Company's service territory, contributing to industrial customer growth.

"In addition to data centers, some of the larger announcements over the past year were in the manufacturing, automotive, aerospace, and metals industry, with familiar names that include General Electric, U.S. Steel, Duracell, and"

X WATCH

Chris Womack

Mercedes-Benz is expanding operations in Southern Company's service territory, supporting industrial sales growth.

MBG.DE WATCH

Chris Womack

Southern Company has secured physical gas supply and equipment for its 2028-2029 generation projects, de-risking its execution timeline in a market where similar projects face supply chain constraints. — This signals that Southern's capex plan is less exposed to equipment delays, and its ability to secure EPC agreements early may pressure competitors who haven't locked in supply.

GE WATCH

David Perroque

Management has significantly raised its long-term EPS growth outlook, driven by a surge in large load contracts (10 GW signed, 10 GW in late-stage discussion) and an $18 billion increase in the five-year capital plan. The company is guiding to 8-9% EPS growth from 2026-2028, a substantial acceleration from historical levels, with further upside potential from Southern Power recontracting.

"Over the next three years, we expect to grow adjusted earnings per share 8 to 9 percent from 2026 through 2028."

SO WATCH

HIGH

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