Filing Flows › Southern (SO) › Q1 2026
Southern (SO) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Southern (SO) reported revenue of $8.4B for the first quarter 2026 (Q1 2026), +8% from a year earlier and +20% from the quarter before. Operating margin was 24.0%, net earnings $1.4B (16.1% of revenue).
Southern, Q1 2026: revenue $8.4B (+8% year over year), operating margin 24.0%, net earnings $1.4B, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.4B | +20% | +8% |
| Operating profit | $2.0B | +120% | +0.4% |
| Net earnings | $1.4B | +226% | +2% |
| Operating cash flow | $1.2B | -53% | -2% |
What changed
Revenue was $8.4B in Q1 2026, up 8% year over year and up 20% from the previous quarter. Residential was the largest line at 24% of revenue. Wholesale electric revenues added $0.22B year over year (up 30%), 36% of the total change. Other revenues declined 4%.
Operating profit was $2.0B, a 24.0% margin (down 1.8 points year over year). Of the extra revenue versus Q1 2025, 1% reached operating profit, below the 26% margin then. Total costs grew 11% against revenue growth of 8%. Net earnings were $1.4B, up 2% year over year ($1.3B including minority interests, which bore $0.02B of losses). The effective tax rate was 14.6%.
Operating cash flow was $1.2B (down 2% year over year), 92% of net earnings. Non-cash charges added back $1.6B of depreciation and amortization. Working capital and other items used $1.7B. Capital expenditures of $2.9B exceeded it, leaving free cash flow of −$1.7B.
Questions
What was Southern's revenue in the first quarter 2026?
Southern (SO) reported revenue of $8.4B for the first quarter 2026 (Q1 2026), +8% from a year earlier and +20% from the quarter before.
Was Southern profitable in the first quarter 2026?
Operating profit was $2.0B (24.0% of revenue) and net earnings $1.4B.
Source: Southern 10-Q on SEC EDGAR.