southern co/the (SO) Key Developments
AGL Resources Inc. and Southern Company Filed to the Regulators for the Merger Approval
Nov 9 15
AGL Resources Inc. and Southern Company applied to the regulators New Jersey Board of Public Utilities, Illinois commerce, Virginia state corporation commission, Maryland public service commission, California public utilities commission, Federal Trade Commission, U.S. Department of Justice to get the approval for the merger. The companies intend to file for remaining regulatory approvals before the end of the year.
Southern Company Estimates Earnings Per Share Guidance for Fourth Quarter of 2015
Oct 28 15
Southern Company estimate earnings per share guidance for fourth quarter of 2015. For fourth quarter it estimate is $0.43 per share.
Southern Company Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
Oct 28 15
Southern Company announced consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenues of $5,401 million compared with $5,339 million for the same period a year ago. Operating income was $1,649 million compared with $1,278 million for the same period a year ago. Earnings before income taxes was $1,470 million compared with $1,127 million for the same period a year ago. Net income after dividends on preferred and preference stock was $959 million or $1.05 per share compared with $718 million or 80 cents per share for the same period a year ago.
For the nine months, the company reported total revenues of $13,921 million compared with $14,450 million for the same period a year ago. Operating income was $3,704 million compared with $3,081 million for the same period a year ago. Earnings before income taxes was $3,214 million compared with $2,620 million for the same period a year ago. Net income after dividends on preferred and preference stock was $2,096 million or $2.30 per share compared with $1,680 million or $1.88 per share for the same period a year ago.
Southern Company and AGL Resources Seek Regulatory Approval for their Proposed Merger
Oct 27 15
In a joint filing with the Virginia State Corp. Commission, Southern Company and AGL Resources requested regulatory approval of their proposed merger. Under the deal, AGL Resources will become a new wholly owned subsidiary of Southern company in a transaction with an enterprise value of approximately USD 12 billion, including a total equity value of approximately USD 8 billion. For Southern company, this transaction is anticipated to be accretive to earnings per share in the first full year following the close of the transaction and to accelerate expected long-term EPS growth to 4% - 5%. The companies expect to complete the transaction in the second half of 2016.
Southern Company Names Daniel S. Tucker as Treasurer
Oct 20 15
Southern Company announced that Daniel S. Tucker has been elected treasurer of the company. Currently serving as senior vice president of finance, Tucker recently assumed responsibility for the treasury, trust finance, enterprise risk management and insurance functions, in addition to his previous responsibilities for investor relations and financial planning. Tucker, 45, joined Southern Company in 1998 as an accountant in financial reporting. He moved to Southern Company Services' finance organization in 2000 as a team leader in financial planning and was later named manager and, subsequently, director of financial planning. In 2012, he was named vice president of investor relations and financial planning.