The Southern Company (SO) Earnings Call Transcripts
The Southern Company's Latest Earnings Call - Q3 FY2026
In the third quarter of 2026, Southern Company reported strong adjusted earnings per share (EPS) of $1.94, exceeding both the previous year's figure and management's guidance by $0.29. Revenue growth was driven by a 3.5% increase in electricity demand and significant contributions from large commercial and industrial customers, particularly data centers. Management indicated confidence in exceeding the original 2026 adjusted earnings guidance and hinted at potential increases for 2027, supported by a robust pipeline of capital investments totaling nearly $100 billion over the next five years.
Reported metrics
| Metric | Value |
|---|---|
| Adjusted EPS | $1.94 (beat) |
| Revenue Growth | 3.5% |
| Residential Customer Additions | 15,000 |
| Contracted Load | 21 gigawatts |
| Capital Investment Plan | $100 billion |
| Rate Reduction Savings | $50 |
Guidance from management
Management indicated that they are on track to exceed their original 2026 adjusted earnings guidance, projecting full year adjusted earnings of $4.70, which is $0.10 higher than the top of the original guidance range. They also expressed confidence in potentially raising the upper end of their near-term guidance for 2027 and beyond.
What management said
Yes. Good question, Shar. The forecast for us remember, we're continuing along that journey towards 17% by 2029. And so our modeling would suggest that with these contracts that we're signing and with the capital that we're going to be deploying, we continue to believe that about 40% remains about the right term for us. And so as we continue to make progress on that journey towards 17%, we'll revisit that. But in the...
Yes. And the only thing I'd add just think about what this signals and says for a company our size. I mean with the skill that we have. And so consideration of what we're talking about and the significance of it, I just want to make sure you don't let that go in and notice for the size and scale of our company.
What analysts pressed on
Analysts expressed concerns about the potential impact of political changes on regulatory dynamics in Georgia, particularly regarding rate cases and the ability to maintain rate stability. There were also questions about the company's capital needs and whether the projected equity requirements would change given the influx of large load customers.
Main topics on the call
- Revenue Growth Acceleration — Southern Company experienced a 3.5% increase in electricity demand in Q3 2026, with commercial sales rising 7.3% year-over-year. Management stated, "We are seeing the highest level of weather normal sales growth in gener...
- Adjusted EPS Performance — The company reported an adjusted EPS of $1.94 for Q3 2026, which was $0.34 higher than Q3 2025 and $0.29 above management's estimate. David Poroch noted, "Our adjusted EPS estimate for the fourth quarter is $0.30 per sha...
- Capital Investment Outlook — Southern Company is on track to potentially raise the upper end of its earnings guidance for 2027 and beyond, supported by a projected capital investment plan approaching $100 billion. Management highlighted, "Our capita...
- Customer Growth and Demand — The company added approximately 15,000 new electric residential customers in Q3 2026, contributing to a 1.3% increase in residential sales. Womack stated, "Our superior performance and growing momentum support the increa...
Read the full The Southern Company transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About The Southern Company
The Southern Company (SO) is a publicly listed company in the Electric Utilities industry, within the Utilities sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 31 calls on record spanning February 20, 2020 to November 5, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 31 The Southern Company earnings call transcripts on record, spanning February 20, 2020 to November 5, 2026. Based on this history, The Southern Company reports quarterly. The most recent call on file is dated November 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- SO
- Exchange
- NYSE
- Country
- US
- Sector
- Utilities
- Industry
- Electric Utilities
- Calls on record
- 31
- First call
- February 20, 2020
- Most recent
- November 5, 2026
- Reporting cadence
- quarterly