Southern Company Q3: Revenue Misses, But EPS Beats Expectations with Strong Utility Gains
Portfolio Pulse from Lekha Gupta
Southern Company reported a Q3 revenue increase of 4.2% to $7.274 billion, missing expectations, but EPS beat estimates at $1.43. Utility gains were strong, with a revised EPS guidance of $4.05. SO shares rose 1.79%.
October 31, 2024 | 2:28 pm
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POSITIVE IMPACT
Investors can gain exposure to Southern Company through the Fidelity MSCI Utilities Index ETF (FUTY).
FUTY includes Southern Company, which reported positive EPS results. This could positively impact FUTY's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Southern Company reported Q3 revenue of $7.274 billion, missing expectations, but EPS beat at $1.43. Utility gains were strong, leading to a revised EPS guidance of $4.05. SO shares rose 1.79%.
Despite missing revenue expectations, Southern Company beat EPS estimates due to strong utility gains. The positive EPS surprise and revised guidance likely contributed to the stock price increase.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Southern Company through the SPDR Select Sector Fund – Utilities (XLU).
XLU includes Southern Company, which reported positive EPS results. This could positively impact XLU's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50