Southern Comfort In Earnings Growth: Utility Giant Outperforms EPS Estimates Despite Revenue Setback
Portfolio Pulse from Akanksha Bakshi
Southern Company (NYSE:SO) reported a Q4 fiscal 2023 revenue decline of 14.2% Y/Y to $6.04 billion, missing estimates. Despite this, adjusted EPS rose to $0.64 from $0.26 Y/Y, beating consensus. The company forecasts a 10% EPS growth for 2024, with a long-term growth estimate of 5-7%. Shares fell by 0.89% to $67.21.
February 15, 2024 | 4:30 pm
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NEUTRAL IMPACT
Southern Company reported lower Q4 revenue but exceeded EPS expectations. It anticipates 10% EPS growth in 2024, despite a recent share price drop.
Despite the revenue miss, the positive EPS beat and optimistic 2024 outlook could balance investor sentiment. The share price drop reflects immediate market reaction, but the long-term growth forecast may support recovery.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100