The financials
Southern Company by the numbers
Southern Company (SO) reported revenue of $8.40B in Q1 2026 (quarter ended Mar 31, 2026), up 8.0% from the same quarter a year earlier. That came with net income of $1.34B (16% of revenue). For the full year FY2025, revenue was $29.6B (+11% year on year) and net income $4.17B. Its largest product in Jun 2026 was Retail Electric Industrial at $1.02B, 15% of the disclosed total, just ahead of Natural Gas at 14%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $8.40B | $7.78B | +8.0% |
| Operating income | $2.02B | $2.01B | +0.4% |
| Net income | $1.34B | $1.27B | +5.4% |
| Diluted EPS | $1.20 | $1.21 | −0.8% |
| Product | Revenue | Share |
|---|---|---|
| Retail Electric Industrial | $1.02B | 15% |
| Natural Gas | $966M | 14% |
| Natural Gas Distribution | $873M | 13% |
| Wholesale Electric | $699M | 10% |
| Wholesale Electric | $510M | 7.5% |
| Other | $450M | 6.6% |
| Natural Gas Distribution Transportation | $358M | 5.3% |
| Natural Gas Distribution Residential | $353M | 5.2% |
| Product And Service Other | $325M | 4.8% |
| Wholesale Electric PPA Energy | $301M | 4.4% |
| Other Electric | $242M | 3.6% |
| Wholesale Electric PPA Capacity | $145M | 2.1% |
| Natural Gas Distribution Commercial | $89M | 1.3% |
| Wholesale Non Affiliates | $85M | 1.3% |
| Other Natural Gas | $75M | 1.1% |
| Other Natural Gas Gas Marketing Services | $73M | 1.1% |
| Natural Gas Distribution Other | $67M | 1.0% |
| Wholesale Electric Non PPA | $64M | 0.9% |
| Wholesale Affiliates | $55M | 0.8% |
| Retail Electric Other | $29M | 0.4% |
| Natural Gas Distribution Industrial | $6.0M | 0.1% |
| Alternative Energy | $4.0M | 0.1% |
| Other Natural Gas Other Natural Gas | $2.0M | 0.0% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Jun 2026Total $6.79B (-40%)
Wholesale Affiliates grew +53% year on yearOther Natural Gas Other Natural Gas -60% year on year
Segment Latestquarter on quarteryear on year
- Retail Electric Industrial$1.02B$1.02BQoQ +8.4%year on year +0.59%+8.4%+0.59%
- Natural Gas$966.0M$966.0MQoQ -56%year on year -1.3%-56%-1.3%
- Natural Gas Distribution$873.0M$873.0MQoQ -54%year on year -1.5%-54%-1.5%
- Wholesale Electric$699.0M$699.0MQoQ -28%year on year +2.6%-28%+2.6%
- Wholesale Electric$510.0M$510.0MQoQ -31%year on year -2.7%-31%-2.7%
- Other$450.0M$450.0MQoQ -8.7%year on year -1.5%-8.7%-1.5%
- Natural Gas Distribution Transportation$358.0M$358.0MQoQ -19%year on year +8.2%-19%+8.2%
- Natural Gas Distribution Residential$353.0M$353.0MQoQ -66%year on year -10%-66%-10%
- Product And Service Other$325.0M$325.0MQoQ -3.3%year on year -3.0%-3.3%-3.0%
- Wholesale Electric PPA Energy$301.0M$301.0MQoQ -39%year on year -2.9%-39%-2.9%
- Other Electric$242.0M$242.0MQoQ -8.7%year on year +10%-8.7%+10%
- Wholesale Electric PPA Capacity$145.0M$145.0MQoQ -2.7%year on year -5.8%-2.7%-5.8%
- Natural Gas Distribution Commercial$89.0M$89.0MQoQ -65%year on year -5.3%-65%-5.3%
- Wholesale Non Affiliates$85.0M$85.0MQoQ -27%year on year -13%-27%-13%
- Other Natural Gas$75.0M$75.0MQoQ -74%year on year -13%-74%-13%
- Other Natural Gas Gas Marketing Services$73.0M$73.0MQoQ -74%year on year -9.9%-74%-9.9%
- Natural Gas Distribution Other$67.0M$67.0MQoQ -54%year on year +12%-54%+12%
- Wholesale Electric Non PPA$64.0M$64.0MQoQ -28%year on year +6.7%-28%+6.7%
- Wholesale Affiliates$55.0M$55.0MQoQ -54%year on year +53%-54%+53%
- Retail Electric Other$29.0M$29.0MQoQ -6.5%year on year 0.00%-6.5%0.00%
- Natural Gas Distribution Industrial$6.0M$6.0MQoQ -75%year on year -14%-75%-14%
- Alternative Energy$4.0M$4.0MQoQ -year on year ---
- Other Natural Gas Other Natural Gas$2.0M$2.0MQoQ -33%year on year -60%-33%-60%
Utilities - Regulated Electric
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