Welcome to our dedicated page for Southern news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on Southern stock.
Southern Company (NYSE: SO) provides essential energy services to millions across the Southeastern United States through electric utilities, natural gas distribution, and innovative infrastructure solutions. This news hub offers investors and stakeholders direct access to the company's official communications and strategic developments.
Stay informed with verified updates spanning earnings announcements, regulatory milestones, grid modernization projects, and sustainability initiatives. Our curated collection ensures timely access to filings, operational updates, and leadership insights directly affecting SO's market position.
Key coverage areas include rate case decisions, renewable energy partnerships, infrastructure investments, and technology deployments. Track the company's progress in balancing traditional utility operations with emerging energy solutions while maintaining regulatory compliance.
Bookmark this page for streamlined monitoring of SO's financial performance, dividend declarations, and long-term growth strategies. Regular updates provide critical context for evaluating this utility leader's role in America's evolving power sector.
Southern Company reported a loss of $215 million, or 20 cents per share, in Q4 2021, down from a profit of $387 million in Q4 2020. Full-year earnings fell to $2.39 billion, or $2.26 per share, compared to $3.12 billion in 2020. Adjusted earnings for Q4 were $380 million, with operating revenues increasing by 12.7% to $5.8 billion. Despite these challenges, the company maintains a positive outlook, projecting 2022 adjusted earnings between $3.50 and $3.60 per share and long-term growth of 5% to 7%.
Southern Company released its 2021 Transformation Report, emphasizing its commitment to diversity, equity, and inclusion (DE&I). Key highlights include that 58% of hires in 2021 were from underrepresented groups, and all operating companies have implemented DE&I training. The company donated $66 million to advance racial equity and plans to invest $225 million through 2025. Additionally, they pledged $40 million of a $50 million commitment to HBCUs. The report underscores Southern Company's intention to align its operations with equity goals.
On February 1, 2022, Mississippi Power announced a request for proposals (RFP) for solar photovoltaic renewable resources, aiming to enhance its energy portfolio. Proposals must have a minimum capacity of 20 MWAC and be submitted by March 15, 2022. The company seeks 25-year power purchase agreements from non-affiliated bidders, ensuring it retains environmental attributes from projects situated in Mississippi and interconnected to its transmission system. Mississippi Power is a subsidiary of Southern Company, serving 191,000 customers across 23 counties.
Georgia Power has filed its 2022 Integrated Resource Plan (IRP) with the Georgia Public Service Commission, outlining a strategic roadmap for meeting future energy needs. The plan includes transitioning to cleaner resources, retiring outdated coal units, and doubling renewable capacity to 11,500 MW by 2035. Proposed investments focus on enhancing grid reliability, energy storage, and customer efficiency programs. The IRP aims to ensure affordable and reliable energy for its 2.7 million customers while embracing new technologies for a sustainable energy landscape.
Alabama Power has elected Kevin Savoy and Charisse Stokes to its board of directors, effective February 1, 2022. Savoy, VP at Great Southern Wood Preserving, brings experience in logistics and pressure-treated wood production, while Stokes, president of Tidal IT Solutions, specializes in tech and innovation strategy. Both new members are recognized community leaders and are expected to contribute valuable insights to the company. Alabama Power, a subsidiary of Southern Company (NYSE:SO), serves 1.5 million customers in Alabama.
Southern Company announced its membership in the Hydrogen Council, aiming for net zero operations and affordable energy. The Council, comprising 134 global firms, focuses on hydrogen's role in decarbonization and economic growth. Southern Company emphasizes its commitment through R&D initiatives in low-carbon hydrogen production and partnerships to advance hydrogen technologies. The company aims to integrate hydrogen into existing infrastructure, working on projects like HyBlend, which blends hydrogen with natural gas. This membership aligns with Southern Company's goal of providing safe, reliable energy while promoting sustainability.
Georgia Power is actively restoring services disrupted by Winter Storm Izzy, which impacted thousands of customers across the state on January 16, 2022. Over 110,000 customers had their power restored since January 15, leaving about 24,000 outages remaining, predominantly in Northeast Georgia. The utility focuses on areas with the greatest need and prioritizes public safety. Georgia Power urges customers to stay safe around downed lines and offers various tools for outage updates, including mobile apps and an online outage map.
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