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Southern Company SO Wholesale electric revenues — Total revenue from contracts with customers

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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:RevenueFromContractWithCustomerIncludingAssessedTax.

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 revenue from contracts with customers?
Southern Company (SO) reported wholesale electric revenues — total revenue from contracts with customers of $734M in Q1 2026.
How has Southern Company's wholesale electric revenues — total revenue from contracts with customers changed year-over-year?
Southern Company's wholesale electric revenues — total revenue from contracts with customers increased by 15.6% year-over-year, from $635M to $734M.
What does wholesale electric revenues — total revenue from contracts with customers mean?
This metric represents the total revenue generated from the sale of electricity to wholesale customers, such as other utilities, municipalities, or power cooperatives, rather than direct retail end-users. It reflects the company's ability to monetize surplus generation capacity and participate in competitive wholesale power markets. This revenue stream is often subject to market price fluctuations and contractual terms that differ significantly from regulated retail rate structures.