Southern CompanySOEarnings & Financial Report
Southern Company is an American gas and electric utility holding company based in the Southern United States. It is headquartered in Atlanta, Georgia, with executive offices located in Birmingham, Alabama. As of 2021 it is the second largest utility company in the U.S. in terms of customer base. Through its subsidiaries it serves 9 million gas and electric utility customers in 6 states. Southern Company's regulated regional electric utilities serve a 120,000-square-mile (310,000 km2) territor...
Revenue
$6.3B
Gross Profit
N/A
Operating Profit
$1.1B
Net Profit
$466.0M
Gross Margin
N/A
Operating Margin
16.7%
Net Margin
7.3%
YoY Growth
4.9%
EPS
$0.48
Financial Flow
Southern Company Q4 2024 Financial Summary
Southern Company reported revenue of $6.3B (up 4.9% YoY) for Q4 2024, with a net profit of $466.0M (down 41.4% YoY) (7.3% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $6.3B |
|---|---|
| Net Profit | $466.0M |
| Gross Margin | N/A |
| Operating Margin | 16.7% |
| Report Period | Q4 2024 |
Revenue Breakdown
Southern Company Q4 2024 revenue of $6.3B breaks down across 12 segments, led by Retail Electric Residential at $1.7B (27.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Retail Electric Residential | $1.7B | 27.2% |
| Retail Electric Commercial | $1.5B | 23.8% |
| Retail Electric Industrial | $875.0M | 13.8% |
| Wholesale Electric | $512.0M | 8.1% |
| Natural Gas Distribution Residential | $509.0M | 8.0% |
| Natural Gas Distribution Transportation | $336.0M | 5.3% |
| Other | $331.0M | 5.2% |
| Other Electric Revenue | $265.0M | 4.2% |
| Natural Gas Distribution Commercial | $117.0M | 1.8% |
| Wholesale Non Affiliates | $79.0M | 1.2% |
| Wholesale Affiliates | $37.0M | 0.6% |
| Retail Electric Other | $31.0M | 0.5% |
Southern Company Revenue by Segment — Quarterly Trend
Southern Company revenue by segment across the last 4 reported quarters, showing how each business line (such as Retail Electric Residential and Retail Electric Commercial) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Retail Electric Residential | — | — | $2.0B | $2.1B |
| Retail Electric Commercial | $1.6B | $2.1B | — | $1.6B |
| Retail Electric Industrial | — | $1.2B | — | $915.0M |
| Wholesale Electric | — | $832.0M | — | $744.0M |
| Natural Gas Distribution Residential | $689.0M | $236.0M | $394.0M | — |
Southern Company Annual Revenue by Year
Southern Company annual revenue history includes year-by-year totals (for example, 2025 revenue was $29.6B).
| Year | Annual Revenue |
|---|---|
| 2025 | $29.6B |
| 2024 | $26.7B |
| 2023 | $25.3B |
| 2022 | $29.3B |
Southern Company Quarterly Revenue & Net Profit History
Southern Company results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $7.0B | +10.1% | $341.0M | 4.9% |
| Q3 2025 | $7.8B | +7.5% | $1.7B | 21.9% |
| Q2 2025 | $7.0B | +7.9% | $880.0M | 12.6% |
| Q1 2025 | $7.8B | +17.0% | $1.3B | 16.3% |
| Q4 2024 | $6.3B | +4.9% | $466.0M | 7.3% |
| Q3 2024 | $7.3B | +4.2% | $1.5B | 21.1% |
| Q2 2024 | $6.5B | +12.4% | $1.2B | 18.6% |
| Q1 2024 | $6.6B | +2.6% | $1.1B | 16.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.65B | $6.46B | $7.27B | $6.34B | $7.78B | $6.97B | $7.82B | $6.98B |
| YoY Growth | 2.6% | 12.4% | 4.2% | 4.9% | 17.0% | 7.9% | 7.5% | 10.1% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $140.12B | $141.94B | $143.96B | $145.18B | $148.11B | $148.85B | $153.25B | $155.72B |
| Liabilities | $104.51B | $105.83B | $107.05B | $108.51B | $110.89B | $111.51B | $114.97B | $116.85B |
| Equity | $35.61B | $36.11B | $36.91B | $33.21B | $37.22B | $37.34B | $38.27B | $36.02B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.31B | $2.69B | $3.62B | $2.17B | $1.25B | $2.18B | $3.77B | $2.60B |