Southern Company (SO) reported second-quarter 2026 adjusted earnings of $1.13 per share, a 22.8% increase from 92 cents a year earlier. This figure surpassed the Zacks Consensus Estimate of $1.01 per share by 11.88%. Operating revenues reached $6.98 billion, a 0.1% year-over-year increase, although this fell short of the consensus forecast of $7.36 billion by 5.18%. Notably, data center usage surged by 55% as demand from large-load customers continued to rise.
The company experienced a 2.3% year-over-year increase in weather-normal retail electricity sales in the first half of 2026, the strongest growth in nearly two decades. Despite a 0.7% decline in residential sales, Southern added about 11,000 residential customers, with net electric customer additions exceeding 40,000 over the past year. Operating expenses decreased to $5.20 billion, contributing to an operating income of $1.78 billion and a net income of $1.17 billion, up from $880 million in the prior year.
Looking ahead, Southern Company anticipates full-year adjusted earnings to approach the upper end of its guidance range of $4.50-$4.60 per share. The company expects third-quarter adjusted earnings of $1.65 per share, driven by customer growth and rising electricity sales.
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