Southern

SO · Utilities · Market cap $106B

Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 30, 2026

Revenue$8.4B +8% year over year

Gross profit$8.2B

Operating profit$2B

Net profit$1.4B 16% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	8.4	100%	+8%
Residential	2	24%	−3%
Natural gas distribution	1.9	23%	+20%
Commercial	1.7	20%	+3%
Other	0.8	10%
Wholesale electric	0.7	8%	+16%
PPA energy revenues	0.5	6%	+20%
Other revenues	0.5	6%	+0%
Other revenue sources	0.4	5%
Cost of revenue	−0.2	2%
Gross profit	8.2	98% margin	+0pp
Operating expenses	−6.2	74%	+0pp
Operating profit	2	24% margin	−2pp
Tax	−0.2
Interest & other costs	−0.4
Net profit	1.4	16%	−1pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	7.8	100%	+8%
Residential	2.7	35%	+3%
Commercial	2.1	27%	+4%
Industrial	1.2	15%
Wholesale electric	0.7	9%	+18%
Other revenues	0.4	5%	+1%
PPA energy revenues	0.4	5%	+24%
Other	0.2	3%
PPA capacity revenues	0.2	3%	−5%
Cost of revenue	−0.2	3%
Gross profit	7.7	98% margin	+0pp
Operating expenses	−5.1	65%	+0pp
Operating profit	2.6	33% margin	+1pp
Tax	−0.4
Interest & other costs	−0.5
Net profit	1.7	22%	+1pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	7	100%	+8%
Residential	2	29%
Commercial	1.7	24%
Industrial	1	14%
Natural gas distribution	0.9	13%
Other revenues	0.5	7%
Other	0.4	6%
PPA energy revenues	0.3	4%
Other revenue sources	0.2	3%
Cost of revenue	−0.2	3%
Gross profit	6.8	98% margin	+0pp
Operating expenses	−5	72%	+0pp
Operating profit	1.8	25% margin	−5pp
Tax	−0.3
Interest & other costs	−0.6
Net profit	0.9	13%	−6pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	7.8	100%	+17%
Residential	2.1	27%
Commercial	1.6	21%
Natural gas distribution	1.6	21%
Other	0.7	9%
Wholesale electric	0.6	8%
Other revenues	0.5	6%
PPA energy revenues	0.4	5%
Other natural gas revenues	0.3	4%
Cost of revenue	−0.2	3%
Gross profit	7.6	97% margin	−1pp
Operating expenses	−5.6	72%	+0pp
Operating profit	2	26% margin	+0pp
Tax	−0.3
Interest & other costs	−0.4
Net profit	1.3	17%	+1pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 30, 2026	$8.4B	+8%	24%	$1.4B	16%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 30, 2025	$7.8B	+8%	33%	$1.7B	22%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 31, 2025	$7B	+8%	26%	$0.9B	13%
Q1 FY25	Jan 1 – Mar 31, 2025	May 1, 2025	$7.8B	+17%	26%	$1.3B	17%