EX-99.07 8 ex9907-financialoverviewq1.htm EXHIBIT 99.07 Exhibit





Exhibit 99.07
 
 
Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
 
 
 
 
 
 
 
 
 
Three Months Ended
March
 
 
2019
 
2018
 
% Change
Southern Company1 –
 
 
 
 
 
 
Operating Revenues
 
$
5,412

 
$
6,372

 
(15.1
)%
Earnings Before Income Taxes
 
3,419

 
1,049

 
225.9
 %
Net Income Available to Common
 
2,084

 
938

 
122.2
 %
 
 
 
 
 
 
 
Alabama Power –
 
 
 
 
 
 
Operating Revenues
 
$
1,408

 
$
1,473

 
(4.4
)%
Earnings Before Income Taxes
 
283

 
311

 
(9.0
)%
Net Income Available to Common
 
217

 
225

 
(3.6
)%
 
 
 
 
 
 
 
Georgia Power –
 
 
 
 
 
 
Operating Revenues
 
$
1,833

 
$
1,961

 
(6.5
)%
Earnings Before Income Taxes
 
392

 
445

 
(11.9
)%
Net Income Available to Common
 
311

 
352

 
(11.6
)%
 
 
 
 
 
 
 
Mississippi Power –
 
 
 
 
 
 
Operating Revenues
 
$
287

 
$
302

 
(5.0
)%
Earnings (Loss) Before Income Taxes
 
44

 
(11
)
 
N/M

Net Income (Loss) Available to Common
 
37

 
(7
)
 
N/M

 
 
 
 
 
 
 
Southern Power1 –
 
 
 
 
 
 
Operating Revenues
 
$
443

 
$
509

 
(13.0
)%
Earnings Before Income Taxes
 
18

 
16

 
12.5
 %
Net Income Available to Common
 
56

 
121

 
(53.7
)%
 
 
 
 
 
 
 
Southern Company Gas1 –
 
 
 
 
 
 
Operating Revenues
 
$
1,474

 
$
1,639

 
(10.1
)%
Earnings Before Income Taxes
 
347

 
383

 
(9.4
)%
Net Income Available to Common
 
270

 
279

 
(3.2
)%
 
 
 
 
 
 
 
N/M - not meaningful
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
 
 
 
 
 
 
 
 
 
 
 
 
 
- See Financial Highlights pages for discussion of certain significant items occurring during the periods presented.
 
(1)
Financial comparisons to the prior year were impacted by (i) Southern Company Gas' disposition of: (a) Pivotal Home Solutions on June 4, 2018, (b) Elizabethtown Gas and Elkton Gas on July 1, 2018, and (c) Florida City Gas on July 29, 2018; (ii) the disposition of Southern Power Company’s ownership interest in Plants Oleander and Stanton on December 4, 2018; (iii) Southern Power Company's sale of (a) a 33% equity interest in a limited partnership indirectly owning substantially all of its solar facilities on May 22, 2018 and (b) a noncontrolling interest in its subsidiary owning eight operating wind facilities on December 11, 2018; and (iv) the disposition of Gulf Power Company on January 1, 2019.