Southern Company Q3 net earnings up

Thu. October 29, 2009; Posted: 10:50 AM

Oct 29, 2009 (Datamonitor via COMTEX) -- SO | Quote | Chart | News | PowerRating -- US-based power utility Southern Company has reported net earnings of $790 million, or $0.99 per share, for the third quarter of 2009, compared to $780.4 million, or $1.01 per share, for the same period of 2008.

The company has reported revenues of $4.68 billion for the third quarter of 2009, a 13.7% decrease, compared to $5.43 billion for the same quarter of 2008.

Southern Company has reported net earnings of $1.39 billion, or $1.77 per share, for the first nine months ended September 30, 2009, compared to $1.56 billion, or $2.02 per share, for the corresponding period of 2008. Year-to-date revenues were $12.23 billion, an 8.2% decrease, compared to $13.32 billion for the first nine months of 2008.

David Ratcliffe, CEO of Southern Company, said: "While the economy continues to take its toll, we are seeing signs of stabilization and what may be the beginnings of recovery in certain sectors in our region.

"We realized an 11% increase in industrial sales over the second quarter of 2009. Most importantly, our employees continue to manage through this recession and provide our customers with reliable electricity at prices below the national average."

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For full details on Southern Company The (SO) click here. Southern Company The (SO) has Short Term PowerRatings of 6. Details on Southern Company The (SO) Short Term PowerRatings is available at This Link.

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