Southern Co (NYSE:SO) saw its shares creep up slightly Thursday morning, on the release of fourth-quarter and full-year numbers.
The Atlanta-based company reported fourth-quarter 2019 earnings of $440 million, or 42 cents per share, compared with $278 million, or 27 cents per share, in the fourth quarter of 2018. Southern Company also reported full-year 2019 earnings of $4.74 billion, or $4.53 per share, compared with earnings of $2.23 billion, or $2.18 per share, in 2018.
Earnings drivers for full year 2019 were positively influenced by higher earnings at our state-regulated utilities, more than offsetting the impact of divested entities on earnings.
The increases reflect the continued impacts of tax reform, including related changes in capital structure, as well as continued investment at our state-regulated utilities, along with customer growth, offset by declines in customer usage.
Said CEO Thomas Fanning, "By all accounts, 2019 was an outstanding year for Southern Company, as we performed well across a broad range of metrics.
"Operational performance at our state-regulated utilities was superb, with record generation and transmission reliability. Nicor Gas reliably delivered natural gas to customers in Illinois during unprecedented cold temperatures. We continued to decarbonize our generation fleet and we saw constructive outcomes in several key regulatory proceedings."
Southern claims a status as a leading energy company serving nine million customers through its subsidiaries.
“The company provides clean, safe, reliable and affordable energy,” says the news release, “through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America.”
SO shares acquired a dime to begin Thursday trading at $68.75
