Established in 1946 and headquartered in Atlanta, Georgia, The Southern Company operates as a diversified energy utility. Its primary activities involve the ...
The Southern Company, established in the mid-1940s and headquartered in Atlanta, Georgia, is a diversified energy utility and one of the largest producers of electricity in the United States. The company's primary business involves the production, transmission, and distribution of electricity, serving about 9 million customers across the Southeast and ...The Southern Company, established in the mid-1940s and headquartered in Atlanta, Georgia, is a diversified energy utility and one of the largest producers of electricity in the United States. The company's primary business involves the production, transmission, and distribution of electricity, serving about 9 million customers across the Southeast and beyond. Its operations span regulated electric utilities, natural gas distribution in states like Illinois, Georgia, Virginia, and Tennessee, and wholesale power sales. The company manages approximately 78,500 miles of natural gas pipelines and 14 storage facilities, and also offers gas marketing services. Beyond traditional utilities, Southern Company is a leader in renewable energy, developing, constructing, and managing solar, wind, and other clean energy projects. It also provides distributed energy and resilience solutions, digital wireless communications, fiber optics services, and microgrid deployment for commercial, industrial, and governmental clients. With over 28,000 employees, the company generated a market cap of around $107.9 billion as of the latest data. Financially, it demonstrates strong operational metrics with a revenue per share of $26.54, a return on equity of 12.6%, and a net profit margin of 15.4%. The company maintains a solid balance sheet with a debt-to-equity ratio of 1.948 and an interest coverage ratio of 2.218. Southern Company is committed to innovation and sustainability, investing heavily in grid modernization, renewable energy, and advanced technologies. Led by Chairman, President, and CEO Chris Womack since 2021, the company focuses on delivering value to shareholders, customers, and communities while transitioning to a cleaner energy future. It emphasizes reliability, affordability, and environmental stewardship, aligning its corporate strategy with the goal of achieving net-zero emissions.
Operator: Good afternoon. My name is Christine, and I will be your conference operator today. At this time, I would like to welcome everyone to The Southern Company's Second Quarter 2026 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. As a reminder, this conference is being recorded. I would now like to turn the call over to Mr. Gregg MacLeod, Director of Investor Relations. Please go ahead, sir.
Gregg MacLeod: Thank you, Christine. Good afternoon, and welcome to Southern Company's second quarter 2026 Earnings Call. Joining me today are Christopher C. Womack, Chairman, President and Chief Executive Officer of Southern Company and David P. Poroch, chief financial officer. Let me remind you that we will make forward-looking statements today in addition to providing historical information. Various important factors could cause actual results to differ materially from those indicated in the forward-looking statements. Including those discussed in our Form 10-K, Form 10-Q, and subsequent securities filings. In addition, we will present non-GAAP financial information on this call. Reconciliations to the applicable GAAP measure are included in the financial information we released this morning as well as the slides for this conference call. Which are both available on our Investor Relations website at investor.southerncompany.com. At this time, I will turn the call over to Christopher C. Womack.
Christopher C. Womack: Thank you, Greg. Good afternoon, everyone. And thank you for joining us for today's update. As you can see from the materials that were released this morning, Southern Company continues to perform exceptionally well which supports a very bright future. We reported strong adjusted earnings results for the second quarter with each of our businesses contributing to performance meaningfully above the estimate we provided last quarter. The extraordinary economic development momentum and demand for power across our Southeast region we have seen for the past several years continues particularly from data centers and other large load customers and our utilities are capturing this growth in a way that meaningfully benefits the customers and communities we are privileged to serve and support our long-term outlook. In just the last quarter, there were three projects across the state of Alabama, Alabama Power added approximately 3 GW, while Georgia Power signed a 3.2 GW 25-year contract for electric service with OpenAI at its recently announced site near Savannah, Georgia. This site, which is expected to take electric service in phases beginning in 2028 features 1 GW of flexible demand response helping to support reliable energy for all customers when demand is highest. Combined, these four projects representing 6 GW of newly contracted customer load along with agreements previously signed brings our total contract to large load agreements …
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