southern co/the (SO) Key Developments
Southern Telecom Expands Networks in Atlanta, Birmingham
Dec 5 14
Southern Company announced a strategic network expansion project in two key Southeast markets: Atlanta, Georgia, and Birmingham, Alabama. Through the dark-fiber network expansion, Southern Telecom is enhancing customer value by delivering increased network reach and new last-mile connectivity options. The Atlanta expansion adds 43 miles of dark fiber to the existing Southern Telecom network, increasing the total metro Atlanta network to 128 miles. In addition, the Atlanta system has doubled the number of on-net buildings and is now supporting 40. In Birmingham, the expansion adds 127 miles of dark fiber and 42 on-net buildings to its metro network, while connecting to the existing carrier neutral and enterprise co-location facility.
Southern Company Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-10-2014
Nov 18 14
Southern Company Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-10-2014 . Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 1002, United States. Speakers: Art P. Beattie, Chief Financial Officer and Executive Vice President, Jimmy Stewart, Manager, IR.
Southern Company Announces Executive Management Changes
Nov 17 14
Southern Company announced two changes to the company's executive management team. Bryan D. Anderson, vice president of governmental affairs for Southern Company, has been elevated to senior vice president of governmental affairs. In this role, Anderson will continue managing Southern Company's Washington, D.C., office and directing the company's political, policy and regulatory activities. His new role takes effect immediately. Christina H. "Christy" Ihrig, currently director of corporate communication for subsidiary Mississippi Power, has been named vice president of corporate communication for Southern Company. In her new role, Ihrig will lead all aspects of external and internal communication strategy for Southern Company. Ihrig will assume her new position on Jan. 1, 2015. Anderson, 48, joined Southern Company in 2010. Immediately prior to that, he served as The Coca-Cola Company's vice president of government relations and public affairs. Ihrig, 41, joined Southern Company in 1998 and has held leadership roles at Southern Company and subsidiaries Mississippi Power, Georgia Power and Southern Company Energy Marketing in media relations, executive and investor communications, external affairs and issues management.
Southern Company Provides Tax Rate Guidance for the Year 2014
Oct 29 14
Southern Company expects effective cash tax rate to be around 7% or 8% for the year 2014.
Southern Company Reports Consolidated Earnings Results for the Third Quarter and Year to Date Ended September 30, 2014
Oct 29 14
Southern Company reported consolidated earnings results for the third quarter and year to date ended September 30, 2014. For the quarter, the company reported total revenues of $5,339 million compared to $5,017 million a year ago. Operating income was $1,278 million compared to $1.491 million a year ago. Net income was $735 million compared to $869 million a year ago. The company reported third quarter 2014 earnings of $718 million, or 80 cents per share, compared with earnings of $852 million, or 97 cents per share, in the third quarter of 2013. Earnings include after-tax charges of $258 million or 29 cents per share related to increased cost estimates for the construction of Mississippi Power's Kemper County integrated gasification combined cycle (IGCC) project. Earnings for the three ended September 30, 2013, include after-tax charges of $93 million or 11 cents per share, related to the Kemper County IGCC project. Excluding these items, the company earned $976 million, or $1.09 per share, during the third quarter of 2014, compared with $945 million, or $1.08 per share, during the third quarter of 2013.
For the year to date, the company reported total revenues of $14,450 million compared to $13,160 million a year ago. Operating income was $3,081 million compared to $2,456 million a year ago. Net income was $1,731 million compared to $1,279 million a year ago. Earnings were $1.68 billion, or $1.88 per share, compared with $1.23 billion, or $1.41 per share, for the same period in 2013. Earnings include after-tax charges of $493 million or 55 cents per share related to increased cost estimates for the construction of Mississippi Power's Kemper County integrated gasification combined cycle (IGCC) project. Earnings for the nine months ended September 30, 2013, include after-tax charges of $704 million or 81 cents per share, related to the Kemper County IGCC project. Earnings for the first nine months of 2013 also include an after-tax charge of $16 million (2 cents per share) for the restructuring of a leveraged lease investment recorded in the first quarter of 2013. For the first nine months of 2014, excluding these items, the company earned $2.17 billion, or $2.43 per share, compared with earnings of $1.95 billion, or $2.24 per share, for the same period in 2013. Earnings continue to be positively influenced by increased industrial sales, closer-to-normal weather and retail revenue effects at the company's traditional operating companies. Earnings were negatively influenced by increased non-fuel operations and maintenance expenses.