EarningsQ2 2026 Earnings Report
IT:1SO Q2 2026 EPS Results
Actual EPS€1.01
Consensus EPS€0.90
Beat/MissBeat by +€0.11
One Year Ago EPS€0.82
IT:1SO Q2 2026 Revenue Results
Actual Revenue€6.23B
Expected Revenue€6.45B
Beat/MissMissed by -€226.20M
YoY Revenue Growth+0.06%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
IT:1SO Upcoming Earnings
Southern Co's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
IT:1SO Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed a strongly positive operational and financial picture: above-expectation EPS, accelerating retail and data center sales, major long-term large-load contracts (including a 3.2 GW OpenAI 25-year agreement), a deep development pipeline, proactive financing actions (reducing equity need to $1.1B by 2030), and ongoing execution on generation and transmission buildout. The primary negatives are higher interest expense and dilution, capital intensity and regulatory/timing uncertainty tied to RFPs and project certification, variable ramp rates for large loads, and local political noise around data centers. Management emphasized risk-mitigating contract structures (minimum bills and collateral) and a disciplined financing approach, which together with material growth opportunities lead to a favorable near- and long-term outlook.Company Guidance
Strong EPS Performance
Adjusted EPS of $1.13 in Q2 2026, up $0.21 versus Q2 2025 and $0.13 above the company's estimate; year-to-date adjusted EPS of $2.46; company now projects full-year 2026 adjusted EPS near or at the top of guidance range of $4.50–$4.60 and Q3 estimate of $1.50.
Robust Retail Sales and Customer Growth
Weather-normal retail electricity sales year-to-date up 2.3% versus H1 2025 (the highest through June in nearly two decades); ~11,000 new residential customers added in the quarter and net electric customer adds exceeding 40,000 over the past year.
Surging Data Center Load
Data center usage rose 55% in Q2 versus Q2 2025 and is up 49% year-to-date; system-wide data center load now exceeds 1.2 GW (an increase of >500 MW year-over-year); contracted large-load portfolio now totals over 17 GW across subsidiaries.
Major New Large-Load Contracts and Pipeline
Recent signings include ~3 GW across three Alabama projects and a 3.2 GW 25-year OpenAI contract in Georgia (including 1 GW of flexible demand response); these four projects add ~6 GW of newly contracted load and company-wide pipeline remains well above 75 GW with an additional ~8 GW in late stages (including ~3 GW near-term).
Economic Development and Local Investment
Second-quarter announcements included nearly $14 billion of investment and >3,000 new jobs (second-highest investment level ever recorded in company electric territories), underscoring regional economic momentum benefiting local communities.
Execution on Generation and Grid Buildout
Secured regulatory approvals supporting ~10 GW of new company-owned generation (thermal, battery, solar) and hundreds of miles of transmission; first two battery sites are operational and combustion turbines/Plant Yates progressing toward completion.
Proactive Financing and Equity Sourcing
Sourced an additional $700 million of equity via ATM with forward contracts (settlement discretion through 2028); combined with prior equity actions (including ~$2 billion settled previously) has reduced projected remaining equity need by 2030 to $1.1 billion and supports the target of ~17% FFO-to-debt by 2029.
Strong Contract Protections and Collateral
Large-load contracts include 25-year terms, minimum bills covering 100% of incremental cost to serve, termination payments and high-quality collateral; aggregate collateral backing the 17 GW portfolio approximates $21 billion, supporting credit protection.
IT:1SO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed