20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Southern Company (NYSE:SO) reported a second-quarter FY23 operating revenue decline of 20.3% year-over-year to $5.75 billion, missing the consensus of $6.82 billion.
The company stated that the decrease was primarily due to lower fuel costs and milder weather in 2023.
Adjusted EPS was $0.79, compared to $1.07 in 2Q22, beating the consensus of $0.74.
Operating income declined 22.1% Y/Y to $1.29 billion, and margin contracted by 52 bps to 22.4%
Operating expenses were reduced by 20% Y/Y to $4.46 billion in Q2.
Total Utility Customers increased 0.9% Y/Y, with Total Traditional Electric +1.2% and Southern Company Gas +0.5%.
Kilowatt-Hour Sales declined by 6.9% Y/Y, with Retail sales down 5.7% and Wholesales sales down 9.9%.
The company held over $7.5 billion in committed credit facilities and available liquidity of over $7.8 billion as of June 30, 2023.
FY23 Outlook reaffirmed: SO expects Adjusted EPS of $3.55-$3.65, versus consensus of $3.60.
For Q3, the company expects EPS of $1.30 Vs. $1.43 estimate.
Price Action: SO shares are trading lower by 1.72% at $69.75 on the last check Thursday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!