rain
Tuesday May 26th, 2015 3:51AM

Southern Co. earnings down 13 percent

By The Associated Press
ATLANTA (AP) -- Southern Co. is reporting a 13 percent drop in third-quarter earnings, citing cooler-than-expected weather across the Southeast, on top of construction losses at a Mississippi power plant.

Southeastern utilities typically see demand surge in the height of summer when customers run their air conditioners to keep cool.

The Atlanta power company reported earnings of $852 million, or, 97 cents per share. That's down from $976 million, or $1.11 per share, a year earlier.

The company took a $93 million after-tax charge for cost overruns at the power plant in Mississippi's Kemper County.

Per-share earnings removing those costs were $1.08, still short of Wall Street expectations, and shares edged lower in premarket trading Wednesday.

Revenue, at $5.02 billion, was also shy of most projections and down from last year's $5.05 billion.
© Copyright 2015 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 1 year ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 1 year ago )
Kerry seeks framework for Mideast peace talks
A senior State Department official says Secretary of State John Kerry will try this week to get Israel and the Palestinians to agree on a framework for negotiating a final peace agreement, yet cautions against raising expectations for Kerry's latest round of shuttle diplomacy.
1:35PM ( 1 year ago )
U.S. News
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 1 year ago )
Amtrak to suspend some Crescent service in Jan., Feb.
Amtrak service will shut down in parts of the Southeast for several days in January and February for rail maintenance by Norfolk Southern Railway.
9:00AM ( 1 year ago )
Lung cancer scans urged for some smokers, not all
Certain current or former heavy smokers should start getting yearly scans for lung cancer to cut their risk of death from the nation's top cancer killer, government advisers said Monday - even as they stressed that the tests aren't for everyone.
7:26AM ( 1 year ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 1 year ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 1 year ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 1 year ago )
Local/State News
Baseball: GHS, Greenbrier set for one-game showdown for AAAAA yitle
Few expected a sweep. And as if on cue, Gainesville and Greenbrier split the first two games of their best-of-three Class AAAAA state championship series Monday at Greenbrier.
12:00PM ( 8 hours from now )
University of North Georgia softball team wins national championship
Junior pitcher Courtney Poole struck out four while giving up just two hits to lead the University of North Georgia softball team to a 5-0 win against Dixie State and the program's first national title.
By UNG Athletic Communications
2:51AM ( 1 hour ago )
Charter nears deal for Time Warner Cable
Charter Communications Inc. is close to buying Time Warner Cable for about $55 billion, according to two people familiar with the negotiations.
9:45PM ( 6 hours ago )
Child airlifted to hospital after falling into pool
A four-year-old child was revived by family members after reportedly falling into a swimming pool in Banks County.
6:43PM ( 9 hours ago )
Lula remembers on Memorial Day
With prayer, song and inspired speech, the City of Lula, its citizens and veterans joined the nation in remembering the nation's war dead this Memorial Day.
3:08PM ( 12 hours ago )