Equity Profile

SO

The Southern Company

UtilitiesElectric Utilities$108.8B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

The Southern Company (SO) is a leading energy provider in the utilities sector, primarily focused on electric utilities. As a major player in the energy market, its performance can significantly impact consumer energy prices and infrastructure development.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is crucial for long-term sustainability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SO Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+4.05%

Avg Stock Reaction

+2.11%

Last Quarter Recap

In Q1-2026, The Southern Company reported an EPS of $1.32, exceeding expectations by 9.18%. This positive surprise led to a 3.41% increase in stock price the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about The Southern Company's upcoming earnings, especially given the recent EPS surprise. However, the lack of analyst estimates adds uncertainty.

Bull Case

If the company continues its trend of beating EPS estimates, it could indicate strong operational efficiency and customer demand, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of declining revenue growth, it could raise concerns about its market position and lead to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure will be critical in determining if the company can maintain its positive surprise trend and investor confidence.

How has customer growth changed in the last quarter?

Understanding customer growth will provide insights into the company's market demand and potential revenue stability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating The Southern Company's ability to maintain customer growth despite economic pressures, which could lead to stronger-than-expected earnings.

Supporting Evidence

The company has a history of beating EPS estimates, which could continue this quarter.

Options pricing indicates a higher expected move than historical averages, suggesting traders anticipate significant news.

Recent operational improvements may not be fully reflected in analyst expectations.

Key Risk

If customer growth exceeds expectations, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is currently weighing the company's ability to sustain growth against potential operational challenges.

Bull Confirmed If

An EPS of $1.40 or higher would confirm strong operational performance and growth.

Bear Confirmed If

An EPS below $1.20 would indicate potential issues in profitability and customer retention.

Pre-Earnings Positioning

Options Market

Implied Move

±5.24%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant move of over 5%, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.2% while SO has averaged ±2.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

18.5%

Calls (111K)P/C Ratio: 0.40Puts (48K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

This setup has occurred 30 times across Utilities in the last 2 years. 23 of 30 (77%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.5%, with a raw directional average of -0.7% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If The Southern Company beats expectations, history suggests a stock increase of around 2.27%, confirming the company's operational strength.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 1.84%, raising concerns about the company's future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and their effectiveness.
2Any changes in operational costs that could impact profitability.
3Insights into regulatory changes affecting the utilities sector.
4Management's outlook on energy demand trends for the upcoming quarters.
5Details on any new projects or investments that could drive future growth.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is crucial for long-term sustainability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SO Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+4.05%

Avg Stock Reaction

+2.11%

Last Quarter Recap

In Q1-2026, The Southern Company reported an EPS of $1.32, exceeding expectations by 9.18%. This positive surprise led to a 3.41% increase in stock price the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about The Southern Company's upcoming earnings, especially given the recent EPS surprise. However, the lack of analyst estimates adds uncertainty.

Bull Case

If the company continues its trend of beating EPS estimates, it could indicate strong operational efficiency and customer demand, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of declining revenue growth, it could raise concerns about its market position and lead to a negative stock reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure will be critical in determining if the company can maintain its positive surprise trend and investor confidence.

How has customer growth changed in the last quarter?

Understanding customer growth will provide insights into the company's market demand and potential revenue stability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating The Southern Company's ability to maintain customer growth despite economic pressures, which could lead to stronger-than-expected earnings.

Supporting Evidence

The company has a history of beating EPS estimates, which could continue this quarter.

Options pricing indicates a higher expected move than historical averages, suggesting traders anticipate significant news.

Recent operational improvements may not be fully reflected in analyst expectations.

Key Risk

If customer growth exceeds expectations, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is currently weighing the company's ability to sustain growth against potential operational challenges.

Bull Confirmed If

An EPS of $1.40 or higher would confirm strong operational performance and growth.

Bear Confirmed If

An EPS below $1.20 would indicate potential issues in profitability and customer retention.

Pre-Earnings Positioning

Options Market

Implied Move

±5.24%

Historical Avg

±2.3%

Pricing rich

The options market is pricing in a significant move of over 5%, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±5.2% while SO has averaged ±2.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

18.5%

Calls (111K)P/C Ratio: 0.40Puts (48K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If The Southern Company beats expectations, history suggests a stock increase of around 2.27%, confirming the company's operational strength.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 1.84%, raising concerns about the company's future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on customer acquisition strategies and their effectiveness.
2Any changes in operational costs that could impact profitability.
3Insights into regulatory changes affecting the utilities sector.
4Management's outlook on energy demand trends for the upcoming quarters.
5Details on any new projects or investments that could drive future growth.