ATLANTA — Southern Company, the owner of Georgia Power, reported its first quarter earnings for the year had hit $1.3 billion, or $1.21 per share.
Last year, the company said they’d earned $1.1 billion in the same time period.
“We’ve had a solid start to the year for Southern Company, and we’ve demonstrated yet again that our customer-centric business model and focus on providing reliable and affordable energy for our nine million customers continues to serve our stakeholders well,” Chris Womack, chairman, president and CEO, said in a statement.
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Womack said the company remained committed to “delivering regular, predictable and sustainable results over the long-term.”
A Southern Company financial analyst call will be held at 1 p.m., where Womack and Chief Financial Officer Daniel S. Tucker will speak with investors and provide a more general business update.
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In the company’s presentation slides for their earnings call, it said their 2025 plan included adding 1,000 miles of new transmission lines over the next 10 years as well as forecasting between $10-$15 billion in regulated capital investments.
More clarity on those plans is expected to come in July, according to Southern Company.
For new customers, the company said minimum terms were being proposed based on a framework by the Georgia Public Service Commission from April, with data centers required to have a 15-year minimum term for supplying power.
Georgia Power’s operating revenues from January to March were roughly $3.04 billion, with earnings a reported $694 million for the quarter.
Of the sub-companies listed in the earnings report, Georgia Power had the highest earnings and revenue.
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