Southern Company today reported third quarter 2015 earnings of $959 million, or $1.05 per share, compared with earnings of $718 million, or 80 cents per share, in the third quarter of 2014.  

For the nine months ended Sept. 30, 2015, earnings were $2.1 billion, or $2.30 per share, compared with earnings of $1.7 billion, or $1.88 per share, for the same period in 2014.

Earnings for the three and nine months ended Sept. 30, 2015, include after-tax charges of $93 million (11 cents per share) and $112 million (13 cents per share), respectively, related to increased cost estimates for the construction of Mississippi Power's Kemper County integrated gasification combined cycle (IGCC) project. Earnings for the three and nine months ended Sept. 30, 2014, include after-tax charges of $258 million (29 cents per share) and $493 million (55 cents per share), respectively, related to the Kemper County IGCC project. Earnings for the three and nine months ended Sept. 30, 2015, include after-tax charges of $12 million related to the proposed acquisition of AGL Resources Inc. Earnings for the nine months ended Sept. 30, 2015, also include a $4 million after-tax charge related to the discontinued operations of Mirant and the March 2009 settlement agreement with MC Asset Recovery, LLC.

Excluding these items, Southern Company earned $1.06 billion, or $1.17 per share, during the third quarter of 2015, compared with $976 million, or $1.09 per share, during the third quarter of 2014. For the first nine months of 2015, excluding these items, Southern Company earned $2.22 billion, or $2.45 per share, compared with earnings of $2.17 billion, or $2.43 per share, for the same period in 2014.

Earnings for the third quarter of 2015 were positively influenced by retail revenue effects at Southern Company's traditional operating companies and stronger than expected performance of its Southern Power subsidiary. Earnings were negatively influenced by increased non-fuel operations and maintenance expenses.

"We not only achieved great financial results for the third quarter, but also delivered major accomplishments that position us well for the future," said Southern Company Chairman, President and CEO Thomas A. Fanning. "Our financial performance was bolstered by Southern Power's solar investments, and we see positive momentum from the pending settlement of litigation related to Plant Vogtle units 3 and 4 and tremendous success with testing on the first of two gasifiers at the Kemper County facility."

Third quarter 2015 operating revenues were $5.40 billion, compared with $5.34 billion for the same period in 2014, an increase of 1.2 percent. Operating revenues for the first nine months of 2015 were $13.92 billion, compared with $14.45 billion for the same period in 2014, a 3.7 percent decrease. 

Kilowatt-hour sales to retail customers in Southern Company's four-state service area increased 1.3 percent in the third quarter of 2015, compared with the third quarter of 2014. Residential energy sales increased 2.7 percent, commercial energy sales increased 1.9 percent and industrial energy sales decreased 0.6 percent.  For the first nine months of 2015, retail sales increased 0.8 percent, compared with the same period in 2014. Residential energy sales increased 0.9 percent, commercial energy sales increased 1.1 percent and industrial energy sales increased 0.4 percent.

Weather-adjusted kilowatt-hour sales to retail customers in Southern Company's four-state service area increased 0.2 percent in the third quarter of 2015, compared with the third quarter of 2014. Weather-adjusted residential energy sales increased 0.1 percent, weather-adjusted commercial energy sales increased 1.0 percent and industrial energy sales decreased 0.6 percent. For the first nine months of 2015, weather-adjusted retail sales increased 0.6 percent, compared with the same period in 2014. Weather-adjusted residential energy sales increased 0.5 percent, weather-adjusted commercial energy sales increased 0.8 percent and industrial energy sales increased 0.5 percent.

Total energy sales to the Southern Company system's customers in the Southeast, including wholesale sales were flat in the third quarter of 2015 compared with the same period in 2014. For the first nine months of 2015, total energy sales decreased 0.4 percent compared with the same period in 2014.

Southern Company's financial analyst call will begin at 1 p.m. Eastern time today, during which Fanning and Chief Financial Officer Art P. Beattie will discuss earnings and provide a general business update. Investors, media and the public may listen to a live webcast of the call and view associated slides at http://investor.southerncompany.com/webcasts. A replay of the webcast will be available at the site for 12 months.