Filing Flows › Southern (SO) › Q2 2025
Southern (SO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Southern (SO) reported revenue of $7.0B for the second quarter 2025 (Q2 2025), +8% from a year earlier and -10% from the quarter before. Operating margin was 25.3%, net earnings $880M (12.6% of revenue).
Southern, Q2 2025: revenue $7.0B (+8% year over year), operating margin 25.3%, net earnings $880M, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0B | -10% | +8% |
| Operating profit | $1.8B | -12% | -9% |
| Net earnings | $880M | -34% | -27% |
| Operating cash flow | $2.2B | +74% | -19% |
What changed
Revenue was $7.0B in Q2 2025, up 8% year over year and down 10% from the previous quarter. Commercial was the largest line at 25% of revenue. Natural gas distribution revenues added $0.16B year over year (up 22%), 31% of the total change.
Operating profit was $1.8B, a 25.3% margin (down 4.7 points year over year). Operating profit fell $0.17B even though revenue rose $0.51B versus a year earlier, so costs grew faster than sales. Total costs grew 15% against revenue growth of 8%. Net earnings were $0.88B, down 27% year over year ($0.85B including minority interests, which bore $0.03B of losses). The effective tax rate was 25.3%.
Operating cash flow was $2.2B (down 19% year over year), 256% of net income including minority interests. Non-cash charges added back $1.4B of depreciation and amortization. Working capital and other items used $0.12B. Capital expenditures of $2.8B exceeded it, leaving free cash flow of −$0.62B.
Questions
What was Southern's revenue in the second quarter 2025?
Southern (SO) reported revenue of $7.0B for the second quarter 2025 (Q2 2025), +8% from a year earlier and -10% from the quarter before.
Was Southern profitable in the second quarter 2025?
Operating profit was $1.8B (25.3% of revenue) and net earnings $880M.
Source: Southern 10-Q on SEC EDGAR.