Southern (SO) FY2019 results: revenue $21.4 billion, down 8.8% on the year
Southern Co. (SO) reported revenue of $21.4 billion for fiscal 2019, the year ended 31 December 2019, down 8.8% on the year before. Net income was $4.7 billion, up 112.9%, and diluted earnings per share $4.50. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$21.4 billion
-8.8% on the year
FY2012FY2019
Operating margin
36.1%
17.8% a year earlier
FY2012FY2019
Net income
$4.7 billion
+112.9% on the year
FY2012FY2019
Diluted EPS
$4.50
+107.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
21,419
23,495
23,031
-8.8%
Operating income
7,736
4,191
2,333
+84.6%
Operating margin
36.1%
17.8%
10.1%
Pre-tax income
6,542
2,749
1,068
+138.0%
Income tax
1,798
449
142
+300.4%
Effective tax rate
27.5%
16.3%
13.3%
Net income
4,739
2,226
842
+112.9%
Net margin
22.1%
9.5%
3.7%
Diluted EPS
$4.50
$2.17
$0.84
+107.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,781
6,945
6,395
-16.8%
Capital expenditure
7,555
8,001
7,423
-5.6%
Free cash flow
-1,774
-1,056
-1,028
Free cash flow margin
-8.3%
-4.5%
-4.5%
Cash from investing
-3,392
-5,760
-7,191
Cash from financing
-1,930
-1,813
951
Depreciation and amortisation
3,331
3,549
3,457
-6.1%
Buybacks
n/a
n/a
0.0
Dividends paid
2,570
2,425
2,300
+6.0%
Dividend per share
$2.46
$2.38
$2.30
+3.4%
Diluted shares, weighted
1,054m
1,025m
1,008m
+2.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
27,505
24,723
24,167
+11.3%
Non-controlling interest
4,254
4,316
1,361
-1.4%
Redeemable equity
291
291
324
0.0%
Debt
46,842
46,849
50,793
-0.0%
Operating lease liabilities
1,615
n/a
n/a
Finance lease liabilities
205
n/a
n/a
Other liabilities
37,988
40,735
34,360
-6.7%
Total liabilities and equity
118,700
116,914
111,005
+1.5%
Fixed assets
83,080
80,797
79,872
+2.8%
Goodwill
5,280
5,315
6,268
-0.7%
Intangible assets
536
613
873
-12.6%
Investments
10,334
10,296
11,510
+0.4%
Cash and equivalents
1,975
1,396
2,130
+41.5%
Other assets
17,495
18,497
10,352
-5.4%
Total assets
118,700
116,914
111,005
+1.5%
10-K for the year ended 31 December 2019, filed 18 February 2021: the filing.