Welcome to our dedicated page for The Southern Company news (Ticker: $SO), a resource for investors and traders seeking the latest updates and insights on The Southern Company stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect The Southern Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of The Southern Company's position in the market.
Solar energy accounted for over 50% of new U.S. electricity generating capacity in 2023, with a record 32.4 gigawatts added to the grid, a 51% increase from 2022. Southern Company and its subsidiaries lead the solar expansion in the Southeast, with plans to triple solar capacity by the early 2030s. The company aims to have around 20,000 MW of renewable capacity and storage by 2030, contributing to a net-zero greenhouse gas emissions goal by 2050.
Southern Company (NYSE: SO) announced the pricing of $1.3 billion in Series 2024A 4.50% Convertible Senior Notes due June 15, 2027, reflecting an upsize of $200 million. The Convertible Notes will have an initial conversion rate of 10.8166 shares of common stock per $1,000 principal amount, with an initial conversion price of approximately $92.45 per share. The offering is expected to close on May 9, 2024. Southern Company intends to use the proceeds to repay commercial paper borrowings and for general corporate purposes.
Southern Company (NYSE: SO) announced an offering of $1.1 billion in convertible senior notes due June 15, 2027, to qualified institutional buyers. The terms of the notes will be determined at pricing, with interest paid semiannually. The company plans to use the proceeds to repay commercial paper borrowings and for general corporate purposes.
Southern Company reported first-quarter earnings of $1.1 billion, or $1.03 per share, in 2024 compared to $862 million, or 79 cents per share, in the first quarter of 2023. Adjusted earnings drivers included higher utility revenues offset by increased expenses. Operating revenues for Q1 2024 were $6.6 billion, a 2.6% increase from Q1 2023. The company highlighted the achievement of commercial operation at Plant Vogtle Unit 4, making it the largest generator of clean energy in the US.
PROPEL and Southern Company have launched the HBCU Cybersecurity Consortium, aiming to bridge the gap in cybersecurity talent shortage by providing industry-aligned education and opportunities for HBCU students and faculty. This groundbreaking initiative will offer professional development, accelerated learning, and a workforce pipeline to enhance skills and prepare future cybersecurity professionals.
Southern Power, a subsidiary of Southern Company, has announced the expansion of its Millers Branch Solar Facility in Texas, adding 180 MW to the existing 200 MW project. The total capacity could reach 500 MW. The project aims to provide renewable energy solutions to diverse customers and communities, with commercial operation expected in the second quarter of 2026. Various companies have signed power purchase agreements to support the environmental attributes of the expansion. This move aligns with Southern Power's strategy of bolstering its wholesale business through long-term contracts with reliable partners.
Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, has announced the operational status of the 150MW South Cheyenne Solar Facility in Wyoming. This marks their 30th solar facility and first in Wyoming, contributing to their clean energy fleet spanning from California to Maine. The facility will generate electricity under a 20-year agreement with Cheyenne Light, Fuel and Power, supporting a data center customer. Acquired from Qcells USA Corp., the project created over 200 jobs and adds to Southern Power's 2,740MW solar portfolio within a 5,280MW renewable fleet strategy.
Alabama Power announced the election of Lee Goodloe, Larry Howell, and Will Wilson to its Board of Directors. The company expressed enthusiasm for their leadership and expertise, highlighting the valuable perspectives they bring. Goodloe, Howell, and Wilson each have impressive backgrounds in their respective industries, with a focus on manufacturing, wooden pallet production, and real estate investment.
Georgia Power announced that Plant Vogtle Unit 4 has entered commercial operation, making it the largest generator of clean energy in the U.S. The plant can power 500,000 homes and businesses, offering reliable, emissions-free energy for at least 60-80 years. With all four units in operation, Plant Vogtle is expected to produce over 30 million megawatt hours of electricity annually.
