Analyst Consensus ?
ConsensusHold33 ratings
Bullish1133.3%
Neutral1957.6%
Bearish39.1%
The Southern Company · SO · FY2024 Q4 · Calendar Q1 2025
Southern Company: Load Growth Meets a Larger Capital Plan
The supplied analysis supports a constructive but conditional view: demand growth and regulated rate-base investment may support Southern Company’s earnings trajectory, but the larger capital plan raises financing, regulatory, and execution risks.
Reported Before market openNYSEUtilities
$106.86B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.51
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $5.90B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.5%
Event window
SPY move
-0.4%
Same window
Abnormal move
+2.0%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+2.4%
Up to 20 sessions
SOSPY benchmark
Ask FN2 about SO FY2024 Q4
Transcript, numbers and history already loaded
What drove SO's +1.5% move after FY2024 Q4 earnings?What changed in SO's guidance and outlook in FY2024 Q4?Give me the bull and bear case for SO after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the capital plan is now described at $63 billion over five years, while data-center demand and signed contracts remain central growth drivers. Management also identified potential EPS rebasing as early as 2027 if incremental investments materialize.
Guidance delta
Management maintained its long-term earnings growth guidance; no change was identified in the supplied analysis.
Key takeaways
- Management described data-center and industrial demand as major drivers of incremental electricity load.
- The five-year capital plan increased to $63 billion, with 95% directed to regulated utilities.
- Management retained its 5–7% long-term earnings growth guidance while emphasizing credit quality.
Management priorities
- Serve additional data-center contracts in Alabama and Mississippi.
- Complete 500 MW of solar construction scheduled for 2025–2026.
- Evaluate brownfield natural-gas plant upgrades and new gas-generation projects.
- Continue selective renewable and storage investments aligned with risk-return criteria.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$92.89Current
$71Low
$89.72Average
$112High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Underweight | Underweight | Maintain | Oct 21, 2026 |
| Jefferies | Hold | Hold | Maintain | Oct 20, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 16, 2026 |
| Truist Securities | Hold | Hold | Maintain | Oct 15, 2026 |
| Keybanc | Underweight | Underweight | Maintain | Oct 13, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 13, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 25, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 27, 2026 |
| Seaport Global | Neutral | Buy | Downgrade | Apr 20, 2026 |
| TD Cowen | Buy | Buy | Maintain | Mar 6, 2026 |
| Evercore ISI Group | Outperform | In Line | Upgrade | Mar 5, 2026 |
| Wells Fargo | Equal Weight | Underweight | Upgrade | Feb 20, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Feb 20, 2026 |
| Mizuho | Outperform | Neutral | Upgrade | Feb 20, 2026 |
| UBS | Neutral | Neutral | Maintain | Dec 17, 2025 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Dec 12, 2025 |
| Ladenburg Thalmann | Neutral | Buy | Downgrade | Oct 17, 2025 |
| Guggenheim | Neutral | Neutral | Maintain | May 2, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Aug 29, 2024 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Aug 2, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 2, 2024 |
| Argus Research | Buy | Buy | Maintain | May 15, 2024 |
| Credit Suisse | Underperform | Underperform | Maintain | Jan 18, 2023 |
| CFRA | Hold | Hold | Maintain | Feb 20, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Dec 18, 2019 |
| Bank of America | Neutral | Neutral | Maintain | Sep 12, 2019 |
| Deutsche Bank | Buy | Buy | Maintain | May 22, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Scotia Howard Weil | Perform | Sector Perform | Maintain | May 13, 2016 |
| CRT Capital | Hold | Hold | Maintain | Mar 3, 2014 |
| Hilliard Lyons | Buy | Neutral | Upgrade | Jan 31, 2014 |
| BGC Financial | Hold | Hold | Maintain | Jun 20, 2013 |
| ISI Group | Buy | Hold | Upgrade | Nov 6, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $92.89. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| HSBC | Analyst unavailable | $99.5 | $90.39 | +7.1% | Oct 22, 2026 |
| Morgan Stanley | David Arcaro | $84 | $90.68 | -9.6% | Oct 21, 2026 |
| D.A. Davidson | Analyst unavailable | $98 | $90.48 | +5.5% | Oct 21, 2026 |
| Jefferies | Analyst unavailable | $95 | $89.27 | +2.3% | Oct 20, 2026 |
| Barclays | Analyst unavailable | $92 | $89.18 | -1.0% | Oct 16, 2026 |
| Truist Financial | Richard Sunderland | $93 | $89.38 | +0.1% | Oct 15, 2026 |
| KeyBanc | Analyst unavailable | $74 | $87.04 | -20.3% | Oct 13, 2026 |
| Truist Financial | Analyst unavailable | $97 | $92.7 | +4.4% | Aug 13, 2026 |
| Mizuho Securities | Analyst unavailable | $106 | $94.34 | +14.1% | Jul 31, 2026 |
| BMO Capital | James Thalacker | $104 | $97.25 | +12.0% | Jul 27, 2026 |
| KeyBanc | Sophie Karp | $79 | $95.8 | -15.0% | Jul 23, 2026 |
| BMO Capital | James Thalacker | $102 | $94.8 | +9.8% | Jul 22, 2026 |
| Morgan Stanley | David Arcaro | $89 | $94.84 | -4.2% | Jun 24, 2026 |
| Jefferies | Analyst unavailable | $99 | $94 | +6.6% | Jun 22, 2026 |
| Barclays | Nicholas Campanella | $98 | $92.53 | +5.5% | Jun 18, 2026 |
| Truist Financial | Richard Sunderland | $100 | $91.93 | +7.7% | May 29, 2026 |
| Morgan Stanley | David Arcaro | $87 | $94.12 | -6.3% | May 21, 2026 |
| Mizuho Securities | Analyst unavailable | $105 | $97.11 | +13.0% | May 1, 2026 |
| Raymond James | Analyst unavailable | $104 | $97.05 | +12.0% | May 1, 2026 |
| Barclays | Analyst unavailable | $99 | $97.59 | +6.6% | Apr 9, 2026 |
| Cowen & Co. | Shelby Tucker | $112 | $97.11 | +20.6% | Mar 6, 2026 |
| Evercore ISI | Nicholas Amicucci | $111 | $96.29 | +19.5% | Mar 5, 2026 |
| Jefferies | Julien Dumoulin-Smith | $102 | $95.22 | +9.8% | Feb 23, 2026 |
| Scotiabank | Analyst unavailable | $103 | $94.44 | +10.9% | Feb 20, 2026 |
| Truist Financial | Analyst unavailable | $103 | $94.58 | +10.9% | Feb 20, 2026 |
| Mizuho Securities | Analyst unavailable | $104 | $95.05 | +12.0% | Feb 20, 2026 |
| Wells Fargo | Analyst unavailable | $96 | $95.05 | +3.3% | Feb 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $105 | $87.35 | +13.0% | Jan 23, 2026 |
| Morgan Stanley | David Arcaro | $85 | $88.16 | -8.5% | Jan 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $84 | $88.9 | -9.6% | Jan 20, 2026 |
| Barclays | Analyst unavailable | $88 | $88.42 | -5.3% | Jan 15, 2026 |
| UBS | Analyst unavailable | $94 | $85.71 | +1.2% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $81 | $86.1 | -12.8% | Dec 16, 2025 |
| RBC Capital | Stephen D'Ambrisi | $99 | $84.71 | +6.6% | Dec 12, 2025 |
| KeyBanc | Analyst unavailable | $76 | $84.73 | -18.2% | Dec 12, 2025 |
| Mizuho Securities | Anthony Crowdell | $88 | $84.06 | -5.3% | Dec 11, 2025 |
| Morgan Stanley | David Arcaro | $97 | $88.58 | +4.4% | Nov 20, 2025 |
| Barclays | Analyst unavailable | $91 | $88.99 | -2.0% | Nov 20, 2025 |
| Jefferies | Analyst unavailable | $103 | $92.73 | +10.9% | Nov 5, 2025 |
| Wells Fargo | Analyst unavailable | $97 | $95.4 | +4.4% | Oct 27, 2025 |
| RBC Capital | Stephen D'Ambrisi | $107 | $95.4 | +15.2% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $99 | $97.94 | +6.6% | Oct 22, 2025 |
| KeyBanc | Analyst unavailable | $87 | $100.06 | -6.3% | Oct 15, 2025 |
| Barclays | Analyst unavailable | $70 | $98.08 | -24.6% | Oct 14, 2025 |
| UBS | Analyst unavailable | $104 | $96.13 | +12.0% | Oct 10, 2025 |
| Evercore ISI | Nicholas Amicucci | $103 | $95.49 | +10.9% | Oct 6, 2025 |
| Scotiabank | Analyst unavailable | $99 | $93.89 | +6.6% | Oct 3, 2025 |
| Morgan Stanley | David Arcaro | $92 | $93.8 | -1.0% | Sep 25, 2025 |
| Morgan Stanley | Analyst unavailable | $91 | $89.97 | -2.0% | Mar 20, 2025 |
| Barclays | Nicholas Campanella | $83 | $89.84 | -10.6% | Oct 15, 2024 |
| Mizuho Securities | Anthony Crowdel | $90 | $89.44 | -3.1% | Sep 16, 2024 |
| Argus Research | Marie Ferguson | $90 | $78.71 | -3.1% | May 15, 2024 |
| BMO Capital | James Thalacker | $80 | $75.46 | -13.9% | May 3, 2024 |
| Barclays | Nicholas Campanella | $66 | $68.73 | -28.9% | Apr 15, 2024 |
| Mizuho Securities | Paul Fremont | $76 | $71.1 | -18.2% | Apr 2, 2024 |
| Citigroup | Ryan Levine | $82 | $67.18 | -11.7% | Feb 6, 2024 |
| BMO Capital | James Thalacker | $77 | $70.58 | -17.1% | Jan 11, 2024 |
| BMO Capital | Analyst unavailable | $74 | $69.14 | -20.3% | Dec 16, 2022 |
| Morgan Stanley | Analyst unavailable | $63 | $70.37 | -32.2% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $59 | $65.09 | -36.5% | Nov 11, 2022 |
| Morgan Stanley | Analyst unavailable | $67 | $74.69 | -27.9% | Apr 26, 2022 |
| Credit Suisse | Analyst unavailable | $77 | $74.97 | -17.1% | Apr 26, 2022 |
| Mizuho Securities | Analyst unavailable | $76 | $76.5 | -18.2% | Apr 21, 2022 |
| Morgan Stanley | Analyst unavailable | $68 | $76.61 | -26.8% | Apr 20, 2022 |
| Wells Fargo | Analyst unavailable | $80 | $76.03 | -13.9% | Apr 19, 2022 |
| Bank of America Securities | Julien Dumoulin-Smith | $71 | $67.89 | -23.6% | Feb 8, 2022 |
| Mizuho Securities | Paul Fremont | $67 | $67.83 | -27.9% | Jan 10, 2022 |
| UBS | Ross Fowler | $71 | $67.55 | -23.6% | Jan 5, 2022 |
| Barclays | Eric Beaumont | $75 | $60.48 | -19.3% | Nov 30, 2021 |
| Guggenheim | Shahriar Pourreza | $72 | $64.83 | -22.5% | Sep 7, 2021 |
| Argus Research | Angus Kelleher-Ferguson | $73 | $62.04 | -21.4% | May 19, 2021 |
Track every rating change on SO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Southern Company operates as an energy utility, primarily involved in the production, transmission, and distribution of electricity. Its operations are segmented into Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also undertakes the development, construction, acquisition, ownership, and management of various power generation assets, including renewable energy ventures, and supplies electricity to the wholesale market. Complementing its power business, it distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, while also offering gas marketing services, wholesale gas services, and managing gas pipeline investments.…
Historical context
All SO earningsUtilities peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PCG PG&E Corporation | FY2026 Q3 · Calendar Q4 2026 | -0.8% | -1.3% | PG&E Reaffirms Guidance While Seeking Credit and Policy Clarity |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the SO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-06T00:01:56.136176+00:00
- Polygon adjusted daily market bars · 2026-10-25T01:00:40.691821+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T01:00:40.689045+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.