Business Context and Reporting Period
This Form 8-K is a combined current report filed on April 30, 2026, by The Southern Company and its five subsidiaries: Alabama Power Company, Georgia Power Company, Mississippi Power Company, Southern Power Company, and Southern Company Gas. The filing serves to disseminate a press release regarding earnings for the three-month period ended March 31, 2026.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within Exhibit 99 (the press release), which is referenced but not included in the provided text. The filing confirms the reporting of both GAAP and Non-GAAP earnings and earnings per share for the period.
Material Changes and Non-GAAP Adjustments
The filing details specific items excluded from Non-GAAP financial measures to evaluate ongoing business performance:
- 2026 Adjustments: Exclusions include accelerated depreciation related to wind facility repowering at Southern Power Company, costs associated with debt extinguishment at The Southern Company, and an estimated loss at Southern Company Gas regarding Nicor Gas capital investments disallowed by the Illinois Commerce Commission.
- 2025 Adjustments: Exclusions include charges and credits related to plants under construction, associated legal expenses (net of insurance recoveries), and related tax impacts.
Guidance, Outlook, and Risks
The filing does not contain explicit forward-looking guidance, management commentary on future outlook, or a detailed risk assessment within the text provided. It notes that the information is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other filings unless expressly stated. The primary risk highlighted in the context of financial adjustments is the regulatory disallowance of capital investments by the Illinois Commerce Commission.
Investor Verification Checklist
- Review Exhibit 99 for the actual GAAP and Non-GAAP earnings, revenue, and cash flow figures for the quarter ended March 31, 2026.
- Verify the specific dollar amounts associated with the debt extinguishment costs and the Nicor Gas regulatory loss mentioned in the Non-GAAP reconciliation.
- Confirm the impact of accelerated depreciation on Southern Power Company's wind facilities.
- Check the detailed segment information for Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas included in the press release.