Southern Company revealed another quarterly earnings report on Thursday with a large profit from July to September.
Southern Company has nine million customers across multiple states in the Southeast, including Alabama. Alabama Power is a subsidiary of Southern Company.
Southern Company on Thursday reported third-quarter earnings of $1.5 billion, or $1.40 per share, in 2024 compared with earnings of $1.4 billion, or $1.30 per share, in the third quarter of 2023.
Through the first nine months of 2024, Southern Company reported earnings of $3.9 billion, or $3.53 per share, compared with $3.1 billion, or $2.86 per share, for the same period in 2023.
Adjusted earnings drivers for the third quarter of 2024, as compared with the same period in 2023, were higher utility revenues, partially offset by increased interest expense, depreciation and amortization, non-fuel operations and maintenance expenses, and income taxes.
Third-quarter 2024 operating revenues were $7.3 billion, compared with $7.0 billion for the third quarter of 2023, an increase of 4.2%. For the nine months ending September 30, 2024, operating revenues were $20.4 billion, compared with $19.2 billion for the corresponding period of 2023, an increase of 6.1%.
"Our entire company, including our premier, state-regulated electric and gas utilities, continued to perform well during the third quarter," said Christopher Womack, chairman, president and CEO of Southern Company. "Employees across the Southern Company system came together in response to Hurricane Helene, a storm of exceptional magnitude which proved to be the most destructive in Georgia Power's history. We are thankful for the thousands of lineworkers, technicians and support staff who joined first responders, emergency management agencies and officials from the local, state and federal government, industry partners and an extraordinary mutual assistance workforce with tireless dedication to restore service to customers across Georgia. We are proud to continue to provide additional assistance to the individuals and families impacted by this devastating storm through contributions to aid organizations and other support. Our commitment to communities and customers has never been more important."
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