By Sabela Ojea
Southern Co. on Thursday posted a rise in profit and higher-than-expected revenue for the third quarter, with customer growth surpassing management expectations.
The energy company said earnings came in at $1.35 a share, up from $1.03 a year earlier.
Adjusted for construction costs and other one-time charges, earnings came in at $1.31 a share, it said. Analysts polled by FactSet had been forecasting adjusted earnings of $1.33 a share.
Revenue rose to $8.38 billion from $6.24 billion a year earlier. Analysts were expecting revenue of $6.89 billion, according to FactSet.
The increase in revenue was mostly linked to higher fuel costs, the company said.
"Our premier, state-regulated electric and gas utilities continued to perform well during the third quarter," Chairman, President and CEO Thomas A. Fanning said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
10-27-22 0805ET