Filing Flows › Southern (SO) › Q2 2026 › vs Q1 2026
Southern (SO) Q2 2026 vs Q1 2026 (quarter over quarter)
Southern's revenue fell $1.4B (-17%) from $8.4B in Q1 2026 to $7.0B in Q2 2026. Operating margin 25.5% against 24.0% (+1.4 pts).
Southern, Q2 2026: revenue $7.0B (+0.1% year over year), operating margin 25.5%, net earnings $1.2B, operating cash flow $3.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 25.5% | 24.0% | +1.4 pts |
| Net margin | 16.8% | 16.1% | +0.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $7.0B | $8.4B | −$1.4B | -17% |
| Operating profit | $1.8B | $2.0B | −$242M | -12% |
| Costs & expenses | $5.2B | $6.4B | −$1.2B | -18% |
| Pre-tax earnings | $1.4B | $1.6B | −$191M | -12% |
| Other expense, net | $401M | $452M | −$51.0M | -11% |
| Net earnings | $1.2B | $1.4B | −$182M | -13% |
| Minority interests | $14.0M | −$18.0M | $32.0M | — |
| Income tax | $187M | $228M | −$41.0M | -18% |
| Depreciation & amortization | $1.6B | $1.6B | $16.0M | +1% |
| Working capital & other | $284M | −$1.7B | $2.0B | — |
| Operating cash flow | $3.1B | $1.2B | $1.8B | +149% |
| Capital expenditures | $3.7B | $2.9B | $751M | +26% |
| Negative free cash flow (OCF − capex) | $641M | $1.7B | −$1.1B | -63% |
Questions
How much did Southern's revenue grow quarter over quarter in Q2 2026?
Southern's revenue fell $1.4B (-17%) from $8.4B in Q1 2026 to $7.0B in Q2 2026. Operating margin 25.5% against 24.0% (+1.4 pts).