Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $4.30 for 2025, which is the top of the guidance range and represents a 6% increase from the previous year and a 9% average annual growth from 2023 [5][6] - This marks the 11th consecutive year of achieving adjusted earnings results at or above the annual guidance range [6] - Weather-normalized total retail electricity sales increased by 1.7% compared to 2024, significantly higher than the cumulative growth seen over the last decade [7][8] Business Line Data and Key Metrics Changes - Georgia Power saw a 2.5% increase in sales from 2024, with all customer classes showing growth, particularly commercial sales which increased by 17% year-over-year [8][9] - The company added 39,000 new residential electric customers and 25,000 new customers in natural gas distribution [8] - Industrial electricity sales grew by 1.4% in 2025, with gains in primary metals, lumber, paper, and transportation segments [9] Market Data and Key Metrics Changes - The company is experiencing robust economic development activity, with over 120 companies either locating new facilities or expanding operations in its service territories, expected to create over 21,000 new jobs [10][11] - The total large load pipeline has increased to over 75 GW, with 26 signed contracts representing 10 GW of fully contracted electric service agreements [19] Company Strategy and Development Direction - The company is focused on sustainable growth through significant investments in energy infrastructure, with a capital investment forecast of $81 billion over the next five years, primarily at state-regulated utilities [25][26] - The strategy includes an "all-of-the-above" approach to energy sourcing, incorporating natural gas, battery energy storage, and other resources to meet growth opportunities [49][92] - The company aims to maintain a disciplined approach to pricing large load contracts, ensuring benefits for existing customers while capturing growth [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve long-term growth, projecting adjusted EPS growth of 7%-9% from 2026 through 2028 [34][35] - The company anticipates retail electric sales to grow at least 3% in 2026, with an average annual growth of 10% projected from 2026 to 2030 [18] - Management highlighted the importance of regulatory frameworks that allow for flexible pricing and contract negotiations to support growth while ensuring rate stability for existing customers [22][24] Other Important Information - The company has a strong dividend track record, having increased dividends for 24 consecutive years, with projections for continued modest increases in the future [32] - The company is committed to maintaining strong investment-grade credit ratings and has proactively addressed $9 billion of equity needs [29][30] Q&A Session Summary Question: Future growth outlook beyond 2028 - Management indicated confidence in achieving growth targets based on current projects and economic expansion, with potential upside from Southern Power [45][46] Question: Impact of near-term contracts on current plans - Management confirmed that the near-term contracts are included in the current forecast and are expected to be signed imminently [55][56] Question: Data center growth and zoning issues - Management expressed confidence in the progress of data center projects across Georgia, Alabama, and Mississippi, despite ongoing conversations about regulations [62][63] Question: Opportunities for onsite or bridge power solutions - Management noted continued demand for temporary power solutions, indicating a strong market for bridge solutions [84] Question: Southern Power's recontracting opportunities - Management highlighted the potential for recontracting capacity at significantly higher rates, estimating future prices around $20-$25 per kilowatt month [92][94]

Financial Data and Key Metrics Changes - Southern Company reported adjusted earnings per share (EPS) of $4.30 for 2025, marking a 6% increase from the previous year and 9% average annual growth from 2023, achieving the top of its guidance range for the 11th consecutive year [4][3] - The company has maintained a strong dividend track record, with increases every year for the past 24 years, contributing to predictable and sustainable financial results [4][31] Business Line Data and Key Metrics Changes - Retail electricity sales increased by 1.7% in 2025 compared to 2024, significantly higher than the cumulative growth over the last decade [5][6] - Georgia Power experienced a 2.5% growth in electricity sales, with commercial sales up 17% year-over-year, driven by large load data center customers [6][7] - Industrial electricity sales grew by 1.4%, with gains in primary metals, lumber, paper, and transportation segments [8] Market Data and Key Metrics Changes - The company anticipates retail electric sales to grow at least 3% across its electric operating companies in 2026, with an average annual growth projection of 10% from 2026 through 2030 [17] - The total large load pipeline has increased to over 75 GW, with 26 signed contracts representing 10 GW of fully contracted electric service agreements [18] Company Strategy and Development Direction - Southern Company is focused on sustainable growth through significant investments in energy infrastructure, with a capital investment forecast of $81 billion over the next five years, primarily at state-regulated utilities [24][25] - The company is exploring opportunities for new natural gas generation and enhancements to existing generation assets to meet future market demands [15][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capture growth opportunities, citing robust economic development activity and the addition of over 21,000 new jobs in its service territories [9][10] - The company is positioned to benefit from the increasing demand for reliable energy, with expectations of improved pricing for its natural gas fleet as contracts come up for renewal [13][14] Other Important Information - Southern Company has a disciplined approach to pricing large load contracts, ensuring that existing customers benefit from the growth while maintaining rate stability [22][23] - The company is committed to preserving its strong investment-grade credit ratings while addressing $9 billion of equity needs [27][30] Q&A Session Summary Question: Inquiry about the company's long-term growth outlook beyond 2028 - Management highlighted confidence in achieving growth targets based on the execution of projects and economic expansion in service territories [45][46] Question: Clarification on the 3 GW of near-term load and its impact on the current plan - Management confirmed that the 3 GW contracts are included in the current forecast and are expected to be signed imminently [55][56] Question: Discussion on the impact of affordability legislation on data center projects - Management acknowledged ongoing conversations about the impact of legislation but expressed confidence in the continued advancement of data center projects [81][83] Question: Inquiry about the potential for new gas expansion and its alignment with data center needs - Management stated that any new gas development would be approached with a disciplined risk profile, ensuring long-term contracts with creditworthy counterparties [97]

Fourth Quarter 2025 Earnings Conference Call February 19, 2026 Cautionary Note Regarding Forward-Looking Statements Certain information contained in this presentation is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, financial objectives, earnings guidance, projected capital expenditures, planned financing activities, and other financial and operational projections. Southern Company and its s ...

Core Insights - Southern Co. reported $6.98 billion in revenue for the quarter ended December 2025, marking a year-over-year increase of 10.1% and an EPS of $0.55 compared to $0.50 a year ago, with revenue exceeding the Zacks Consensus Estimate of $6.86 billion by 1.7% [1] Financial Performance - The company delivered an EPS surprise of -1.79%, with the consensus EPS estimate being $0.56 [1] - Southern Co. shares returned +2.1% over the past month, while the Zacks S&P 500 composite experienced a -0.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance against the broader market in the near term [3] Operating Revenues Breakdown - Southern Power reported operating revenues of $472 million, below the estimated $510.01 million, but reflecting a +13.2% change year-over-year [4] - Total retail sales reached $35.33 billion, surpassing the three-analyst average estimate of $34.88 billion [4] - Southern Company Natural Gas generated $1.49 billion in operating revenues, exceeding the $1.27 billion estimate, with a year-over-year increase of +20.7% [4] - Georgia Power - Other Revenues were $222 million, below the two-analyst average estimate of $273.36 million, representing a year-over-year decline of -17.5% [4] - Mississippi Power - Retail Revenues were $261 million, exceeding the estimated $232.24 million, with a +15.5% year-over-year change [4] - Southern Company Gas - Gas Distribution Operations reported $1.31 billion, surpassing the $1.1 billion estimate, reflecting a +21.9% year-over-year change [4] - Retail Electric revenues were $4.27 billion, slightly below the $4.28 billion estimate, with a +6.7% year-over-year change [4] - Alabama Power reported $1.94 billion, slightly above the two-analyst average estimate of $1.93 billion, with a +10.6% year-over-year change [4] - Georgia Power generated $2.71 billion, exceeding the $2.65 billion estimate, reflecting a +4.9% year-over-year change [4] - Mississippi Power reported $394 million, surpassing the $356.15 million estimate, with a +14.2% year-over-year change [4]

Southern Co. (SO) came out with quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.5 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.79%. A quarter ago, it was expected that this power company would post earnings of $1.5 per share when it actually produced earnings of $1.6, delivering a surprise of +6.67%.Over the last four quarters, the company ha ...

Core Insights - Southern Company forecasts annual profit below analysts' estimates and raises its five-year spending plan to support increasing power demands from large-load customers [1] Financial Performance - For the quarter ended December 31, Southern Company reported an adjusted profit of 55 cents per share, which is below the analysts' expectation of 57 cents [1] - Operating expenses increased by 14.7% during the quarter, while revenue rose by 10% [1] Spending Plans - Southern Company plans to spend approximately $81 billion from 2026 through 2030, an increase from its previous five-year plan of $76 billion [1] - The utility has contracted 10 gigawatts of large load customers, including major companies like Google, Meta, Microsoft, and Compass Datacenters [1] Market Position - Southern Company serves 9 million customers and ranks as the second-largest utility in the U.S., operating in Alabama, Georgia, Illinois, Mississippi, Tennessee, and Virginia [1]

Vancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: GPGCF) (FSE: V3H) ("Great Pacific Gold," "GPAC," or the "Company") announces the discovery of a new high-grade epithermal gold-copper vein at its flagship Wild Dog Project in Papua New Guinea, further supporting the Company's interpretation of repeated high-grade polymetallic mineralization along the 15-kilometre-long Wild Dog Structural Corridor.The newly identified Magiabe West Vein, located ...

Core Viewpoint - The Utilities Select Sector SPDR Fund (XLU) has consistently paid dividends since 1999, yielding 2.75% and delivering a total return of 20.41% over the past year, making it an attractive option for income-focused investors [1]. Group 1: Dividend Consistency and Holdings - XLU has a 2.75% yield with uninterrupted dividend payments since 1999, indicating strong reliability for income-focused investors [1]. - NextEra Energy constitutes 14.06% of XLU's holdings, with a payout ratio of 69.1%, supporting a 10% annual dividend growth [1]. - Southern Company and Duke Energy have also raised dividends, reflecting their status as regulated utilities with a history of consistent payments [1]. Group 2: Financial Health and Dividend Sustainability - NextEra Energy's conservative capital allocation strategy allows for a sustainable dividend, with earnings growth of 25.8% providing flexibility for shareholder rewards and infrastructure investments [1]. - Southern Company increased its quarterly payment from $0.72 to $0.74, while Duke Energy raised its payment from $1.045 to $1.065, both maintaining manageable payout ratios [1]. Group 3: Market Context and Total Returns - The interest rate environment has shifted favorably for dividend-paying utilities, with the 10-year Treasury yield decreasing from 4.58% to 4.09%, reducing the opportunity cost of holding dividend stocks [1]. - XLU's total returns of 20.41% over the past year highlight the growing recognition of the value proposition in utilities [1]. - The projected dividend payments for 2025 are expected to be around $2.00 annually, down from $2.24 in 2024, reflecting portfolio rebalancing rather than fundamental weakness [1].

The Southern Company (NYSE:SO) is one of the best infrastructure stocks to buy right now. On January 28, The Southern Company (NYSE:SO) declared a quarterly dividend of $0.74 per share on its common stock. Payment is scheduled for March 6, this year, to shareholders of record on February 17. Southern Company (SO) Maintains Stability Amid Shifting Landscape Pixabay/Public Domain This announcement continues 78 consecutive years of quarterly dividends equal to or greater than the prior quarter. The 74 cent ...

Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to | | Registrant, | | | --- | --- | --- | | Commission | State of Incorporation, | I.R.S. Employer | | File Number | Address ...