Southern Co. reports second-quarter earnings

Southern Co. announced its second-quarter earnings for 2015 on Wednesday with earnings amounting to $629 million.

For the first half of 2015 the company reports earnings of $1.14 billion. In 2024, second-quarter earnings were at $611 million and $962 million for the first half.

"We are encouraged by positive customer growth during the second quarter of 2015, particularly in the residential sector," Southern Co. Chairman, President and CEO Thomas Fanning said. "Also, for the first time since 2004, we have experienced two consecutive quarters of weather-normalized growth in all three customer classes – residential, commercial and industrial – as our region continues to grow faster than the U.S. as a whole."

The company reports that kilowatt-hour sales to the four-state service area increased by 2.2 percent for the second quarter, with residential energy sales increasing 4.6 percent and commercial sales increasing by 2.3 percent. These values are calculated after tax charges and increased estimated on construction projects involved at the Mississippi Power project in Kemper County, Mississippi.

This also includes an after tax charge relating to the discontinuation of Mirant operations and the March 2009 settlement agreement that was reached with MC Asset Recovery.

The company serves approximately 4.5 million customers in the Southeastern U.S.