Southern Stock Price, News & Analysis

Southern Company reported Q4 2020 earnings of $387 million (37 cents per share), a decline from $440 million (42 cents per share) in Q4 2019. For full-year 2020, earnings totaled $3.12 billion ($2.95 per share), down from $4.74 billion ($4.53 per share) in 2019. Excluding certain items, Q4 earnings were $497 million (47 cents per share), up from $283 million (27 cents per share) year-over-year. Despite a 4.9% decrease in annual revenues to $20.4 billion, there was a 4.1% increase in Q4 revenues compared to the previous year. Earnings guidance for 2021 will be discussed in today's analyst call.

Georgia Power has issued a reminder to customers that colder weather may lead to increased energy usage, necessitating enhanced energy efficiency. The company provides several winter energy-saving tips, including utilizing sunlight, optimizing heating systems, installing smart thermostats, and improving insulation. Customers can also track their energy use through the 'My Power Usage' program. As the largest electric subsidiary of Southern Company (NYSE: SO), Georgia Power is dedicated to delivering reliable energy at competitive rates, with a customer base across Georgia.

As winter storm Uri affects the Southeast, Georgia Power is closely monitoring conditions to ensure prompt response to potential service interruptions. Crews are pre-staging to assist within the Southern Company system while also maintaining local coverage for customers. The company emphasizes customer safety and offers tools for storm preparedness, including outage alerts and a mobile app. Georgia Power collaborates with other utilities through a mutual assistance network to enhance restoration efforts. The firm is committed to delivering reliable energy and customer service across Georgia.

Georgia Power and Atlanta Airlines Terminal Company have announced a $100 million investment to enhance the infrastructure of Hartsfield-Jackson Atlanta International Airport. This long-term investment aims to ensure reliable power supply with a new back-up generation system across all terminals and concourses. Georgia Power will install and maintain this state-of-the-art power system over the next two years, replacing the existing back-up system. The investment reflects a partnership with the City of Atlanta to support the airport's operational needs and future growth.

Georgia Power warns customers of increasing scams by impersonators posing as their representatives. The company advises customers to avoid sharing sensitive payment information over the phone and to be cautious of suspicious calls and emails. Georgia Power emphasizes that it never solicits payments in person or requests credit card information via phone. To ensure safety, customers can verify the official customer service number at 888-660-5890 and check authorized payment locations. The company is collaborating with law enforcement to combat these fraudulent activities.

Southern Power, a subsidiary of Southern Company, has entered into two 20-year power purchase agreements with Southern California Edison to enhance its solar facilities in California. They will incorporate battery energy storage systems to improve grid reliability. The Garland Solar Facility will add 88 MW and 352 MWh, while the Tranquillity Solar Facility will add 72 MW and 288 MWh of storage. These projects align with Southern Power's strategy of sustainable growth through long-term contracts, further integrating renewable energy into the grid.

On February 2, 2021, Southern Company received an A- from the CDP Climate Change Disclosure for its leadership in environmental transparency in North America. This marks an improvement from a B in 2019. The company aims for net zero emissions by 2050, building on a 50% emissions reduction goal by 2030 from 2007 levels. By participating in the CDP disclosure, Southern Company shows its commitment to environmental accountability. Over 9,600 companies disclosed through CDP in 2020, indicating a growing trend in corporate environmental responsibility.

Georgia Power is urging its 2.6 million customers to prepare for severe weather during Severe Weather Awareness Week from February 1 to 5. Each day focuses on different types of severe weather and safety actions, including family preparedness, thunderstorm safety, tornado safety, lightning safety, and flooding. Georgia Power emphasizes the importance of having an emergency kit, staying updated with weather forecasts, and using their Outage Alert service for notifications. The company maintains a commitment to reliable service and prepares to respond promptly to severe weather-related outages.