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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100