Filing Flows › Southern (SO) › Q3 2025
Southern (SO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Southern (SO) reported revenue of $7.8B for the third quarter 2025 (Q3 2025), +8% from a year earlier and +12% from the quarter before. Operating margin was 33.2%, net earnings $1.7B (21.9% of revenue).
Southern, Q3 2025: revenue $7.8B (+8% year over year), operating margin 33.2%, net earnings $1.7B, operating cash flow $3.8B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.8B | +12% | +8% |
| Operating profit | $2.6B | +47% | +10% |
| Net earnings | $1.7B | +94% | +11% |
| Operating cash flow | $3.8B | +73% | +4% |
| Free cash flow | $559M | — | -57% |
What changed
Revenue was $7.8B in Q3 2025, up 8% year over year and up 12% from the previous quarter. Commercial was the largest line at 27% of revenue. Wholesale electric revenues added $0.11B year over year (up 15%), 20% of the total change.
Operating profit was $2.6B, a 33.2% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 33% margin then. Total costs grew 7% against revenue growth of 8%. Net earnings were $1.7B, up 11% year over year. The effective tax rate was 19.1%.
Operating cash flow was $3.8B (up 4% year over year), 221% of net earnings. Non-cash charges added back $1.6B of depreciation and amortization. Working capital and other items added $0.50B. Capital expenditures of $3.2B left free cash flow of $0.56B.
Questions
What was Southern's revenue in the third quarter 2025?
Southern (SO) reported revenue of $7.8B for the third quarter 2025 (Q3 2025), +8% from a year earlier and +12% from the quarter before.
Was Southern profitable in the third quarter 2025?
Operating profit was $2.6B (33.2% of revenue) and net earnings $1.7B.
Source: Southern 10-Q on SEC EDGAR.