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Southern Company SO Wholesale electric revenues — Total operating revenues

Other product segments

Retail electric revenues
$4.62B
Residential
$2B-3.0%
Commercial
$1.66B+3.2%
Industrial
$942M+3.0%
PPA energy revenues
$496M+19.5%
Transportation
$440M+8.4%
Other natural gas revenues
$284M+9.2%
Non-PPA revenues
$169M+26.1%
PPA capacity revenues
$149M0.0%
Other
$31M0.0%

Similar metrics at other companies

Duke Energy logo
DUKWholesale Electric — Operating Revenues
$554.75M+1.2%
OTT
OTTRWholesale — Total Operating Revenues
$1.5M-45.9%
PNW
PNWWholesale Energy Sales — Total Operating Revenues
$14.98M-39.7%
CNP
CNPWholesale electric sales — Revenue
$4.75M+375%
UGI logo
UGIWholesale — Total revenues from contracts with customers
$62M-20.5%
American Electric Power logo
AEPTotal Wholesale and Competitive Retail Revenues — Total Revenues from Contracts with Customers
$1.61B+2.6%

Other financials

Income statement

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Revenue$8.4B+8.0%
Operating income$2.0B+0.4%
Net income$1.4B+1.6%
EPS (diluted)$1.20-0.8%

Balance sheet

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Cash & equivalents$987.0M-57.7%
Total debt$75.3B
Total equity$39.9B+7.2%
Total assets$157.03B

Cash flow

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Operating cash flow$1.2B-1.9%
CapEx$2.9B+20.8%
Free cash flow-$1.7B-44.7%

Valuation

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Market cap$109.63B+5.7%
Enterprise value$183.9B
P/E19.6×
P/S3.5×-0.5×

Profitability

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Operating margin18.7%-2.5pp
Net margin13.1%
FCF margin-5.1%

Returns & leverage

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Return on equity9%
Debt / equity1.9×
Current ratio0.7×

Where this comes from

Reported directly by Southern Company in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

The official record: Southern Company’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Southern Company's wholesale electric revenues — total operating revenues?
Southern Company (SO) reported wholesale electric revenues — total operating revenues of $965M in Q1 2026.
How has Southern Company's wholesale electric revenues — total operating revenues changed year-over-year?
Southern Company's wholesale electric revenues — total operating revenues increased by 29.7% year-over-year, from $744M to $965M.
What does wholesale electric revenues — total operating revenues mean?
This metric represents the portion of total operating revenues derived from the sale of electricity to wholesale customers, such as municipalities, electric cooperatives, and other utilities. It reflects the company's ability to monetize surplus generation capacity beyond its retail service obligations. This revenue stream is often governed by long-term power purchase agreements or short-term market transactions, providing a measure of the company's footprint in the broader wholesale energy market.