Southern (SO) FY2023 results: revenue $25.3 billion, down 13.8% on the year
Southern Co. (SO) reported revenue of $25.3 billion for fiscal 2023, the year ended 31 December 2023, down 13.8% on the year before. Net income was $4.0 billion, up 12.8%, and diluted earnings per share $3.62. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$25.3 billion
-13.8% on the year
FY2016FY2023
Operating margin
23.1%
18.3% a year earlier
FY2016FY2023
Net income
$4.0 billion
+12.8% on the year
FY2016FY2023
Diluted EPS
$3.62
+11.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
7,553
6,302
6,169
+19.9%
Capital expenditure
9,095
7,923
7,586
+14.8%
Free cash flow
-1,542
-1,621
-1,417
Free cash flow margin
-6.1%
-5.5%
-6.1%
Cash from investing
-9,668
-8,430
-7,353
Cash from financing
999
2,336
1,945
-57.2%
Depreciation and amortisation
4,986
4,064
3,973
+22.7%
Dividends paid
3,035
2,907
2,777
+4.4%
Dividend per share
$2.78
$2.70
$2.62
+3.0%
Diluted shares, weighted
1,098m
1,081m
1,068m
+1.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
31,444
30,408
27,874
+3.4%
Non-controlling interest
3,781
4,124
4,402
-8.3%
Redeemable equity
n/a
0.0
291
Debt
62,000
57,550
53,717
+7.7%
Operating lease liabilities
1,307
1,388
1,503
-5.8%
Finance lease liabilities
287
296
199
-3.0%
Other liabilities
40,512
41,125
39,548
-1.5%
Total liabilities and equity
139,331
134,891
127,534
+3.3%
Fixed assets
99,844
94,570
91,108
+5.6%
Goodwill
5,161
5,161
5,280
0.0%
Intangible assets
368
406
445
-9.4%
Investments
9,986
9,757
10,202
+2.3%
Cash and equivalents
748
1,917
1,798
-61.0%
Other assets
23,224
23,080
18,701
+0.6%
Total assets
139,331
134,891
127,534
+3.3%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.