The Southern Company (SO) Earnings Call Transcripts

The Southern Company's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, The Southern Company reported adjusted earnings per share (EPS) of $1.13, exceeding expectations by $0.13 and reflecting a year-over-year increase of $0.21. Revenue growth was driven by increased customer demand, particularly from data centers, and the company anticipates full-year adjusted EPS to be near the top of its guidance range of $4.50 to $4.60. Management highlighted significant contracts signed, including a 3.2-gigawatt agreement with OpenAI, which positions the company favorably for future growth and economic development in the Southeast region.

Reported metrics

Guidance from management

Management anticipates full-year adjusted earnings to be near or at the top of the guidance range of $4.50 to $4.60, with an adjusted EPS estimate for Q3 of $1.65 per share.

What management said

Let me start then I'll turn it to David. But as we said in our prepared remarks, we do expect to be at the top half of our long-term earnings trajectory. And so as we think about that, we think about the opportunity that provides for us in terms of meeting our long-term outlook. But clearly, as we think about the rate proceedings and regulatory proceedings, those are things that conversations will have with regulator...

Sure. No, for sure. Working through those contracts, those are likely to go into 2028 and beyond. So they'll like every other big data center project. Large-load customer have a ramp-up period. A couple of them that we're working on would initiate that ramp-up in 2028 and bring us into the next decade.

What analysts pressed on

Analysts expressed concerns regarding the potential impact of regulatory proceedings on future rate structures and how the company plans to manage its growing capital needs amidst increasing demand. There were also questions about the timeline for finalizing RFPs and the implications for future generation capacity.

Main topics on the call

• Strong Demand from Data Centers — Management noted that data center usage increased by 55% compared to Q2 2025, contributing to overall customer growth. "Approximately 11,000 new electric residential customers were added in the quarter, bringing our net ...
• Significant Contract Wins — The company secured a 3.2-gigawatt, 25-year contract with OpenAI, adding to the 3 gigawatts from Alabama Power. "These 4 projects representing 6 gigawatts of newly contracted customer load... brings our total contracts a...
• Infrastructure Build-Out — Management emphasized the need for additional power generation and infrastructure to support growing demand, having secured approvals for 10 gigawatts of new generation resources. "The continued success of our operating ...
• Stable Customer Rates — The company maintained stable customer rates in Georgia and Alabama until 2029, which management believes enhances customer benefits. "With retail base rates held stable... we are demonstrating that when growth is done r...

Read the full The Southern Company transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 The Southern Company earnings call transcripts on record, spanning February 20, 2020 to July 30, 2026. Based on this history, The Southern Company reports quarterly. The most recent call on file is dated July 30, 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

30

First call

February 20, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly