Business Context and Reporting Period
This Form 8-K is a combined current report filed on October 31, 2024, by The Southern Company and its 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 results for the three-month and nine-month periods ended September 30, 2024.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references an attached Exhibit 99 (Press Release) which contains the detailed GAAP and non-GAAP financial results, including earnings and earnings per share for the periods ended September 30, 2024, and 2023.
Material Changes and Non-GAAP Adjustments
The registrants present non-GAAP financial measures to exclude specific items for the evaluation of ongoing business activities. Material adjustments noted in the filing include:
- Exclusion of charges and credits related to plants under construction, associated legal expenses, and tax impacts for both 2024 and 2023 periods.
- Exclusion of an impairment loss associated with the discontinued development of a multi-use commercial facility at Alabama Power Company for the 2024 periods.
- Exclusion of acquisition and disposition impacts for the 2023 periods.
- Exclusion of costs associated with the extinguishment of debt at Southern Company and a charge related to a disallowance at Northern Illinois Gas Company for the nine-month period ended September 30, 2023.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on future outlook, or a detailed discussion of risks and contingencies within the text provided. It explicitly states that the information is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other filings except as expressly set forth. The primary purpose is to reference the attached press release for operational results.
Investor Verification Checklist
- Review Exhibit 99 (Press Release) for specific GAAP and non-GAAP earnings and earnings per share figures.
- Verify the reconciliation of non-GAAP measures to GAAP measures to understand the impact of excluded items.
- Confirm the specific details of the impairment loss at Alabama Power Company regarding the discontinued commercial facility.
- Check the segment information for Alabama Power, Georgia Power, Mississippi Power, Southern Power, and Southern Company Gas included in the exhibit.