Filing Flows › Southern (SO) › Q1 2025
Southern (SO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Southern (SO) reported revenue of $7.8B for the first quarter 2025 (Q1 2025), +17% from a year earlier and +23% from the quarter before. Operating margin was 25.9%, net earnings $1.3B (17.2% of revenue).
Southern, Q1 2025: revenue $7.8B (+17% year over year), operating margin 25.9%, net earnings $1.3B, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.8B | +23% | +17% |
| Operating profit | $2.0B | +90% | +18% |
| Net earnings | $1.3B | +150% | +18% |
| Operating cash flow | $1.2B | -42% | -5% |
What changed
Revenue was $7.8B in Q1 2025, up 17% year over year and up 23% from the previous quarter. Natural Gas was the largest line at 24% of revenue. Wholesale electric revenues added $0.17B year over year (up 30%), 15% of the total change.
Operating profit was $2.0B, a 25.9% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 26% margin then. Total costs grew 17% against revenue growth of 17%. Net earnings were $1.3B, up 18% year over year ($1.3B including minority interests, which bore $0.06B of losses). The effective tax rate was 18.1%.
Operating cash flow was $1.2B (down 5% year over year), 98% of net income including minority interests. Non-cash charges added back $1.4B of depreciation and amortization. Working capital and other items used $1.4B. Capital expenditures of $2.4B exceeded it, leaving free cash flow of −$1.2B.
Questions
What was Southern's revenue in the first quarter 2025?
Southern (SO) reported revenue of $7.8B for the first quarter 2025 (Q1 2025), +17% from a year earlier and +23% from the quarter before.
Was Southern profitable in the first quarter 2025?
Operating profit was $2.0B (25.9% of revenue) and net earnings $1.3B.
Source: Southern 10-Q on SEC EDGAR.