Southern Company (SO) reported net income of $2.0 billion in the third quarter of 2026 ($2,046 million), up 19.6% from $1.7 billion ($1,711 million) in the same period of 2025. Earnings per share (EPS) were $1.77, compared with $1.55 in 3Q25.
Operating revenue was $8.8 billion, up 13.0% from $7.8 billion in 3Q25. Operating income totaled $3.0 billion, versus $2.6 billion a year earlier.
Excluding items the company considers non-recurring, adjusted (non-GAAP) earnings were $2.2 billion, or $1.94 per share, versus $1.8 billion, or $1.60 per share, in 3Q25. The excluded items include accelerated depreciation from the repowering of Southern Power wind facilities ($118 million pre-tax) and early debt repayment costs ($43 million).
According to the company, the main drivers of the adjusted result were warmer weather, higher usage and customer growth, increased revenue from large commercial and industrial customers, and higher earnings at Southern Power. Higher operating expenses and dilution from more shares outstanding offset part of the gain.
For the nine months ended September 30, 2026, net income was $4.6 billion, or $4.02 per share, versus $3.9 billion, or $3.56 per share, in 2025. Revenue for the period totaled $24.2 billion, up 7.3%. Adjusted earnings were $5.0 billion, or $4.40 per share.
