Southern (SO) Q3 FY2026 earnings: revenue $8.8 billion, up 13.0% on the year

Southern Co. (SO) reported revenue of $8.8 billion for Q3 FY2026, the quarter ended 30 September 2026, up 13.0% on the same quarter a year earlier. Net income was $2.0 billion, up 19.6% on the year, and diluted earnings per share $1.76. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$8.8 billion

+13.0% on the year · +26.7% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

33.9%

33.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

$2.0 billion

+19.6% on the year · +74.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.76

+14.3% on the year · +70.9% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 lowered, 1 kept.

Earnings rose on weather and usage: Management listed warmer weather, higher usage and customer growth, and revenue from large commercial and industrial customers, plus higher Southern Power earnings, as adjusted drivers, partly offset by higher non-fuel costs, taxes and share dilution.
Per-share earnings excluding items rose: Excluding items, earnings were $2.2 billion, or $1.94 per share, against $1.8 billion, or $1.60 a year earlier. Reported diluted EPS was $1.76, against $1.54.
Revenue rose 13% year over year: Operating revenues were $8.8 billion, up 13.0%. Year-to-date operating revenues were $24.2 billion, up 7.3%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	8,843	6,977	7,823	+26.7%	+13.0%
Operating income	3,000	1,776	2,594	+68.9%	+15.7%
Operating margin	33.9%	25.5%	33.2%
Pre-tax income	2,546	1,375	2,111	+85.2%	+20.6%
Income tax	472	187	404	+152.4%	+16.8%
Effective tax rate	18.5%	13.6%	19.1%
Net income	2,046	1,174	1,711	+74.3%	+19.6%
Net margin	23.1%	16.8%	21.9%
Diluted EPS	$1.76	$1.03	$1.54	+70.9%	+14.3%

$ million except per share.

Free 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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	3,600	3,054	3,774	+17.9%	-4.6%
Capital expenditure	3,561	3,695	3,215	-3.6%	+10.8%
Free cash flow	39.0	-641	559		-93.0%
Free cash flow margin	0.4%	-9.2%	7.1%
Cash from investing	-3,645	-3,337	-3,865
Cash from financing	-1,200	2,286	2,168
Depreciation and amortisation	1,633	1,596	1,565	+2.3%	+4.3%
Dividends paid	820	803	760	+2.1%	+7.9%
Dividend per share	$0.76	$0.76	$0.74	0.0%	+2.7%
Diluted shares, weighted	1,160m	1,141m	1,110m	+1.7%	+4.5%
Shares outstanding at period end	1,164m	1,150m	1,101m	+1.2%	+5.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	44,806	42,342	38,274	+5.8%	+17.1%
Debt	74,001	75,582	72,306	-2.1%	+2.3%
Operating lease liabilities	1,284	1,298	1,242	-1.1%	+3.4%
Other liabilities	44,113	42,805	41,426	+3.1%	+6.5%
Total liabilities and equity	164,204	162,027	153,248	+1.3%	+7.1%
Goodwill	5,161	5,161	5,161	0.0%	0.0%
Intangible assets	281	287	308	-2.1%	-8.8%
Cash and equivalents	1,740	2,984	3,341	-41.7%	-47.9%
Other assets	157,022	153,595	144,438	+2.2%	+8.7%
Total assets	164,204	162,027	153,248	+1.3%	+7.1%

Questions

What was Southern's revenue in Q3 FY2026?

Southern (SO) reported revenue of $8.8 billion for Q3 FY2026, the quarter ended 30 September 2026, up 13.0% on the same quarter a year earlier.

How much did Southern earn in Q3 FY2026?

Net income for Q3 FY2026 was $2.0 billion, up 19.6% on the year, and diluted earnings per share $1.76.

When did Southern report Q3 FY2026 results?

Southern filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	5,767	6,648	7,206	8,378	7,047	6,480	5,748	6,980	6,045	6,646	6,463	7,274	6,341	7,775	6,973	7,823	6,982	8,397	6,977	8,843
Operating income	-331	1,384	1,655	2,193	138	1,218	1,290	2,110	1,208	1,703	1,939	2,368	1,058	2,010	1,764	2,594	917	2,018	1,776	3,000
Operating margin	-6%	21%	23%	26%	2%	19%	22%	30%	20%	26%	30%	33%	17%	26%	25%	33%	13%	24%	25%	34%
Pre-tax income	-567	1,164	1,393	1,901	-235	896	921	1,729	799	1,294	1,478	1,912	545	1,550	1,142	2,111	196	1,566	1,375	2,546
Tax rate	n/a	15%	22%	22%	n/a	11%	11%	17%	1%	17%	20%	20%	14%	18%	25%	19%	-74%	15%	14%	19%
Net income	-215	1,032	1,107	1,472	-87.0	862	838	1,422	854	1,129	1,203	1,535	534	1,334	880	1,711	416	1,356	1,174	2,046
Net margin	-4%	16%	15%	18%	-1%	13%	15%	20%	14%	17%	19%	21%	8%	17%	13%	22%	6%	16%	17%	23%
Diluted EPS	-$0.20	$0.97	$1.03	$1.35	-$0.09	$0.79	$0.76	$1.29	$0.78	$1.03	$1.09	$1.39	$0.48	$1.21	$0.79	$1.54	$0.38	$1.20	$1.03	$1.76
Operating cash flow	1,088	1,592	1,987	1,438	1,285	844	2,056	2,840	1,813	1,311	2,688	3,616	2,173	1,250	2,181	3,774	2,597	1,226	3,054	3,600
Capital expenditure	2,018	1,419	1,794	2,289	2,421	1,850	2,048	2,663	2,534	1,770	2,125	2,311	2,749	2,437	2,800	3,215	4,285	2,944	3,695	3,561
Free cash flow	-930	173	193	-851	-1,136	-1,006	8.0	177	-721	-459	563	1,305	-576	-1,187	-619	559	-1,688	-1,718	-641	39.0
Dividends paid	700	702	723	741	741	742	764	765	764	733	754	733	734	736	758	760	761	776	803	820
Shares outstanding	1,060m	1,063m	1,063m	1,089m	1,089m	1,090m	1,091m	1,091m	1,091m	1,093m	1,095m	1,096m	1,097m	1,099m	1,100m	1,101m	1,119m	1,127m	1,150m	1,164m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.