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Here's Why Hold Strategy Is Apt for Southern Company Stock Now
ZACKS· 2025-05-22 20:32
Southern Company (SO) , a prominent entity in the U.S. utilities sector, plays a crucial role in the generation, transmission and distribution of electricity. Through its subsidiaries, the company provides electricity to millions of customers across Georgia, Alabama and Tennessee. Its diverse energy portfolio includes power generation from nuclear, coal, hydro, solar, wind and advanced battery storage.Focused on embracing the future of energy, Southern is investing heavily in natural gas, renewable resource ...
Southern Company(SO) - 2025 FY - Earnings Call Transcript
2025-05-21 23:00
财务数据和关键指标变化 - 2024年公司受监管的电力公用事业在阿拉巴马州、佐治亚州和密西西比州的输电和配电基础设施投资近40亿美元 [46] - 公司预计2025 - 2029年平均年销售额增长约8%,较之前长期销售增长预期提高2% [48] - 公司董事会连续第24年批准提高年度普通股股息,最近批准每股增加8美分,自1948年起连续第78年有望支付等于或高于上一年的股息 [53] 各条业务线数据和关键指标变化 电力业务 - 2024年受监管的电力公用事业在阿拉巴马州、佐治亚州和密西西比州的输电和配电基础设施投资近40亿美元 [46] - 佐治亚电力公司的沃格特尔4号机组成功完工,使沃格特尔电厂成为美国最大的清洁能源发电机 [46] - 密西西比电力公司与指南针数据中心签署477兆瓦长期协议,阿拉巴马电力公司助力Meta在阿拉巴马州蒙哥马利建设771.5万平方英尺的数据中心 [48] - 预计未来五年公司司法管辖区内电力销售每年增长8%,当前系统管道超过50吉瓦,其中数据中心和工业制造项目占比大,且有超过10吉瓦的承诺,还有更多正在推进中 [64] 天然气业务 - 2024年天然气业务持续进行基础设施投资,在佐治亚州、伊利诺伊州、弗吉尼亚州和田纳西州安装或更换466英里管道 [46] - 弗吉尼亚天然气公司和查塔努加天然气公司达成首份可再生天然气协议 [51] 南方电力业务 - 南方电力公司的第30个太阳能项目——怀俄明州的南夏延太阳能设施投入商业运营,业务覆盖范围扩大到15个州 [46] 电信业务 - 南方电信签订300英里光纤合同,将阿拉巴马州蒙哥马利的一个主要数据中心与伯明翰和亚特兰大连接起来 [48] 各个市场数据和关键指标变化 - 过去一年,超过150家公司宣布扩大业务或在公司东南部服务区域内设立新设施,大型电力负荷客户(包括数据中心和大型制造商)的经济发展管道到2035年中期代表着超过50吉瓦的潜在增量负荷 [47] 公司战略和发展方向和行业竞争 - 公司致力于提供清洁、安全、可靠和经济实惠的能源解决方案,通过对弹性、创新和研发的行业领先承诺,持续满足客户未来需求,探索碳捕获、先进核技术、可再生天然气、储能等全系列解决方案 [49] - 公司注重经济增长与客户承受能力的平衡,努力确保新客户需求不会给支付能力较弱的客户带来额外负担 [49] - 公司通过与州和地方社区合作,利用自身全方位能力,抓住经济增长机遇,可持续地服务市场 [48] - 公司在应对数据中心需求方面,采取保守的需求建模方法,佐治亚电力公司通过修订规则和利用现有机制确保成本回收和公平性 [66] - 公司重视能源效率和需求响应,将需求侧选项与供应侧选项同等纳入资源规划,提供多种节能项目 [70] - 公司通过更新先进配电管理系统、部署分布式能源资源管理系统、投资电网等方式提高系统效率 [75] 管理层对经营环境和未来前景的评论 - 2024年是公司出色的一年,团队在各业务领域表现卓越,财务业绩强劲,能源组合得到推进,高效运营机会增加,成功应对历史性风暴 [44] - 公司认为东南部经济基本面强劲,垂直整合且规划良好的电网具有可靠性和弹性,客户对公司电力服务区域的热情日益高涨,公司有望实现显著增长,改善当地社区,并长期保持成功 [50] 其他重要信息 - 公司2025年年度股东大会以虚拟形式举行,确保股东无论身处何地都能参与,会议议程包括正式业务、业务更新和问答环节 [4] - 公司董事会提名13人竞选董事,哈尔·克拉克在近16年服务后于本次会议结束时退休 [5][8] - 会议对8项提案进行投票,包括公司提案和股东提案,初步投票结果显示部分提案已获批准,部分未获批准,最终投票结果将在未来几天提交美国证券交易委员会 [41] 总结问答环节所有的提问和回答 问题: 董事会成员如何被提名,股东是否有资格成为提名人? - 根据公司细则,股东或最多20名股东组成的团体,若连续三年持有至少3%有表决权的流通股,可提名董事,提名人数为两名或截至通知交付最后一天在任董事的20%,更多信息见2025年代理声明第96页起的常见问题解答 [56] 问题: 为什么给高管和董事股份,而不是让他们以折扣价购买并持有一段时间? - 公司薪酬和人才发展委员会制定高管整体薪酬结构,提名治理和企业责任委员会监督独立董事薪酬,董事会在确定股权计划结构时会考虑市场竞争信息和最佳设计实践,高管股权计划通常有绩效成分,以确保股东回报、吸引和激励人才,公司在2021年寻求股东批准股权薪酬计划时已披露预期摊薄效应,且股权薪酬占流通股比例小、摊薄效应小,还能有效管理现金流和保留资本 [58] 问题: 公司是否会将供应商在开采过程中泄漏的天然气等范围三排放纳入脱碳目标? - 公司无法直接控制范围三排放,但采取了一系列措施减少排放,如寻求低甲烷排放的天然气、扩大住宅能源效率计划、参与氢和可再生天然气项目、支持甲烷排放测量和监测工作,由于排放报告的测量方法和协议存在挑战,公司暂无范围三目标,将继续与技术开发商合作,利用技术改善客户服务,公司和南方天然气公司在降低价值链排放和提供透明披露方面处于行业领先地位 [61] 问题: 公司及其运营公司如何应对数据中心对额外发电的需求,数据中心是否需支付建设和额外发电成本? - 公司所有受监管的电力公用事业预计负荷增长,服务区域对各类客户有吸引力,预计未来五年电力销售每年增长8%,公司服务数据中心数十年,与大型科技公司关系良好,当前系统管道超50吉瓦,有超过10吉瓦的承诺,技术效率提升预计不会减少最终电力需求,佐治亚公共服务委员会批准了佐治亚电力公司针对100兆瓦以上大客户的修订规则,以平衡成本和风险,佐治亚电力公司还利用现有机制确保成本回收,公司致力于可持续服务增长机会,保护投资并为所有客户提供经济利益 [64] 问题: 公司如何帮助服务区域内老旧房屋的客户节省能源费用,释放电力以满足激增需求? - 公司认为能源效率和需求响应选项对客户至关重要,将需求侧选项与供应侧选项同等纳入资源规划,运营公司与州监管机构合作开发需求侧解决方案,提供多种节能项目,帮助客户更高效使用能源,降低账单,公司有责任评估需求侧选项,为所有客户提供清洁、安全、可靠和经济实惠的能源 [70] 问题: 公司对分布式能源资源的进一步发展和电网增强以提高整体系统效率有何展望? - 公司通过更新先进配电管理系统提高电网智能和弹性,计划在2月初步部署分布式能源资源管理系统,并在未来十年持续改进,各运营公司有丰富的客户项目,可调度需求侧选项容量超过1500兆瓦,公司继续投资电网,十年输电计划包括超过1000英里的新输电线路,自2024年起,阿拉巴马电力公司和佐治亚电力公司已部署首台静止同步补偿器设备,公司将继续部署分布式能源资源和电网增强解决方案以提高系统效率 [75] 问题: 关税可能会对公司产生什么影响? - 政策存在不确定性,公司对关税影响的评估有所不同,但公司规模大、供应商多、供应商关系强,可共同积极应对挑战,潜在缓解措施包括现有项目应急方案、合同条款、潜在监管措施和部署替代资源,公司对经济实惠的承诺和对可靠性的关注可能影响资本部署速度,以减轻关税对客户的影响,总体而言,预计关税不会对公司业务产生重大影响 [78] 问题: 公司以客户为中心意味着什么,在佐治亚州有哪些相关举措? - 在佐治亚电力公司,客户是一切工作的核心,随着全国成本上升,佐治亚电力公司致力于为客户提供清洁、安全、可靠和经济实惠的能源,由于佐治亚公共服务委员会的远见、建设性监管政策和垂直整合的市场结构,佐治亚电力公司能够平衡经济增长与各利益相关者的利益,佐治亚电力公司和佐治亚公共服务委员会公共利益倡导工作人员周一提交了一项协议,寻求未来三年不提高基本费率,仅回收去年飓风海伦造成的风暴恢复成本,该协议为客户带来了费率稳定,确保佐治亚电力公司能够支持该州的增长,同时平衡客户的承受能力需求 [81]
Southern Cross Gold Closes Third and Final Tranche of Private Placement
Newsfile· 2025-05-21 09:57
Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - May 20, 2025) - Southern Cross Gold Consolidated Ltd (TSXV: SXGC) (ASX: SX2) (OTC Pink: MWSNF) (FSE: MV3) ("SXGC", "SX2" or the "Company") is pleased to announce that it has closed the third and final tranche (the "Third Tranche") of its previously announced C$143M/A$162M private placement (the "Placement").Pursuant to the closing of the Third Tranche, the Company issued 5,431,638 common shares (the "Shares" and each common share in th ...
Southern Company announces upsize and pricing of $1.45 billion in aggregate principal amount of Series 2025A 3.25% Convertible Senior Notes due June 15, 2028
Prnewswire· 2025-05-21 08:33
ATLANTA, May 20, 2025 /PRNewswire/ -- Southern Company (NYSE: SO) today announced the pricing of $1.45 billion in aggregate principal amount of its Series 2025A 3.25% Convertible Senior Notes due June 15, 2028 (the "Convertible Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), reflecting an upsize of $200 million over the previously announced offering size. In addition, Southern Company granted the init ...
SO Reaches a Settlement for Extension of Rate Plan Through 2028
ZACKS· 2025-05-20 19:20
The Southern Company (SO) , via one of its affiliates, Georgia Power Company, recently announced a proposed settlement with the Georgia Public Service Commission (PSC) Public Interest Advocacy Staff. The agreement recommends extending the current alternate rate plan through Dec. 31, 2028, maintaining rate stability for Georgia Power customers for three additional years.This settlement is still pending approval from the Georgia PSC, with a final decision expected by July 1, 2025. If rejected, Georgia Power m ...
Southern Company announces offering of $1.25 billion in aggregate principal amount of Convertible Senior Notes due June 15, 2028
Prnewswire· 2025-05-20 18:30
ATLANTA, May 20, 2025 /PRNewswire/ -- Southern Company (NYSE: SO) today announced an offering of $1.25 billion in aggregate principal amount of its convertible senior notes due June 15, 2028 (the "Convertible Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, Southern Company expects to grant the initial purchasers of the Convertible Notes an option to purchase, for settlement within a perio ...
Norfolk Southern to present at Wolfe Research 18th Annual Global Transportation & Industrials Conference
Prnewswire· 2025-05-17 03:17
ATLANTA, May 16, 2025 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) Executive Vice President and Chief Financial Officer Jason Zampi will participate in a fireside chat at the Wolfe Research 18th Annual Global Transportation & Industrials Conference. Details on how to listen to the discussion follow below. What: Wolfe Research 18th Annual Global Transportation & Industrials ConferenceWhen: Tuesday, May 20, 2025 at 11 a.m. ETWhere: Via WebcastThe presentation will be posted at norfolksouthern.com ...
Southern Cross Gold Closes Second Tranche of Private Placement
Newsfile· 2025-05-14 21:57
Vancouver, British Columbia and Melbourne, Australia--(Newsfile Corp. - May 14, 2025) - Southern Cross Gold Consolidated Ltd (TSXV: SXGC) (ASX: SX2) (OTC Pink: MWSNF) (FSE: MV3) ("SXGC", "SX2" or the "Company") is pleased to announce that it has closed the second tranche (the "Second Tranche") of its previously announced C$143M/A$162M private placement (the "Placement").Pursuant to the closing of the Second Tranche, the Company issued 6,636,918 common shares (the "Shares" and each common share in the autho ...
The Alkaline Water Company Announces Return to Southern California Market Through Partnership with Santa Monica Distributors Corp
Prnewswire· 2025-05-13 18:00
GLENDALE, Ariz., May 13, 2025 /PRNewswire/ -- The Alkaline Water Company Inc. (OTC: WTER) ("WTER" or the "Company"), a leader in the premium bottled alkaline water industry, today announced its return to the Los Angeles and Southern California market through a new distribution partnership with Santa Monica Distributors Corp (SMDC), a premiere wholesale distributing company located in Santa Monica, California.The partnership will bring WTER's flagship products—Alkaline88 one-gallon bottles and 1.5-liter bott ...
Construction now underway on 765 MW of new battery energy storage systems across Georgia
Prnewswire· 2025-05-08 02:07
Georgia Power advancing projects in Bibb, Lowndes, Floyd and Cherokee counties to enhance reliability, resiliency for a growing stateATLANTA, May 7, 2025 /PRNewswire/ -- Georgia Power announced today that construction is underway on 765-megawatts (MW) of new battery energy storage systems (BESS) strategically located across Georgia in Bibb, Lowndes, Floyd and Cherokee counties. The BESS projects were authorized by the Georgia Public Service Commission (PSC) through the Integrated Resource Plan (IRP) process ...