Filing Flows › Southern (SO) › Q4 2025
Southern (SO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Southern (SO) reported revenue of $7.0B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and -11% from the quarter before. Operating margin was 13.1%, net earnings $416M (6.0% of revenue).
Southern, Q4 2025: revenue $7.0B (+10% year over year), operating margin 13.1%, net earnings $416M, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0B | -11% | +10% |
| Operating profit | $917M | -65% | -13% |
| Net earnings | $416M | -76% | -22% |
| Operating cash flow | $2.6B | -31% | +20% |
What changed
Revenue was $7.0B in Q4 2025, up 10% year over year and down 11% from the previous quarter. Commercial was the largest line at 23% of revenue.
Operating profit was $0.92B, a 13.1% margin (down 3.5 points year over year). Operating profit fell $0.14B even though revenue rose $0.64B versus a year earlier, so costs grew faster than sales. Total costs grew 15% against revenue growth of 10%. Net earnings were $0.42B, down 22% year over year ($0.34B including minority interests, which bore $0.07B of losses). The effective tax rate was -74.0%.
Operating cash flow was $2.6B (up 20% year over year), 762% of net income including minority interests. Non-cash charges added back $1.6B of depreciation and amortization. Working capital and other items added $0.65B. Capital expenditures of $4.3B exceeded it, leaving free cash flow of −$1.7B.
Questions
What was Southern's revenue in the fourth quarter 2025?
Southern (SO) reported revenue of $7.0B for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and -11% from the quarter before.
Was Southern profitable in the fourth quarter 2025?
Operating profit was $917M (13.1% of revenue) and net earnings $416M.
Source: Southern 10-K on SEC EDGAR.