Kemper charges cut Southern Co.’s Q3 profit
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- Staff Atlanta Business Chronicle
Southern Co. (NYSE: SO)
The Atlanta-based energy company reported its third-quarter profit dropped 15.7 percent after $258 million in c harges related to increased cost estimates for the construction of Mississippi Power's Kemper County integrated gasification combined cycle (IGCC) project and another $93 million in charges related to the IGCC project.
- Revenue: $5.3 billion, up 6.4%
- Net Income: $718 million, down 15.7%
- Earnings Per Share: 80 cents, down 17.5%
Click here for the full earnings report.
"We continue to see evidence of economic recovery across the Southeast, such as increases in industrial sales and residential customer growth," said Southern Co. Chairman, president and CEO Thomas A. Fanning.
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