Southern Company Reports Lower Q2 Revenue, Misses Estimates
Portfolio Pulse from Akanksha Bakshi
Southern Company (NYSE:SO) reported a 20.3% YoY decline in Q2 FY23 operating revenue to $5.75 billion, missing the consensus of $6.82 billion. The decrease was attributed to lower fuel costs and milder weather. Adjusted EPS was $0.79, beating the consensus of $0.74. Operating income declined 22.1% YoY to $1.29 billion. The company reaffirmed its FY23 outlook, expecting an adjusted EPS of $3.55-$3.65. SO shares are trading lower by 1.72% at $69.75.
August 04, 2023 | 1:46 pm
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Southern Company's Q2 FY23 revenue and operating income declined, but adjusted EPS beat estimates. The company reaffirmed its FY23 outlook. SO shares are trading lower.
Southern Company's lower-than-expected Q2 revenue and decline in operating income could negatively impact investor sentiment, leading to a decrease in the stock price. However, the company's EPS beat estimates and the reaffirmation of its FY23 outlook might mitigate some of the negative impact.
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IMPORTANCE 80
RELEVANCE 100