Southern Company reported second quarter 2008 earnings of $416.4 million, down from $429.2 million in the second quarter of 2007. Earnings for the first six months of 2008 were $775.6 million, compared to $767.8 million for the same period in 2007. Key factors impacting results included a $67 million charge related to leveraged leases from the 1990s, and the expiration of tax credits for synthetic fuel investments at the end of 2007. Excluding special items, earnings were $0.63 per share for the second quarter of 2008 compared to $0.55 per share for the same period in 2007. Total energy sales to customers decreased 0.7% in the second quarter of
- Southern Company reported third quarter earnings of $780.4 million, or $1.01 per share, compared to $762 million, or $1.00 per share in the third quarter of 2007. Revenues increased 12.3% to $5.43 billion.
- Kilowatt-hour sales decreased 4.6% for the quarter and 1.7% for the first nine months of the year compared to the same periods in 2007, due primarily to milder weather.
- Earnings were positively impacted by increased retail rates and market-response rates for commercial and industrial customers, but offset by mild weather, asset depreciation, and a sluggish economy.
Southern Company reported its financial results for the fourth quarter and full year of 2008. For the full year, earnings were $1.74 billion compared to $1.73 billion in 2007. Kilowatt-hour sales to retail customers decreased 2.1% for the year. Revenues increased 11.6% for the full year to $17.13 billion due to higher retail rates and environmental cost recovery, but earnings were impacted by mild weather, a weak economy, and higher expenses. Looking ahead, economic challenges are expected to continue through 2009 but the long-term viability of the Southeast region remains strong.
Southern Company reported first quarter 2008 earnings of $359.2 million, up from $338.7 million in the first quarter of 2007. Revenues increased 8% to $3.68 billion. Kilowatt-hour sales to retail customers increased 1.4% due to growth in residential and commercial customers. Earnings were positively impacted by increased revenue from market-response rates and regulatory actions supporting infrastructure investments, which were partially offset by higher operations and maintenance expenses.
DTE Energy raised its 2008 earnings guidance based on strong expected performance across several business segments. It reported first quarter 2008 operating earnings of $128 million, up from $112 million in the first quarter of 2007, driven by higher earnings at its energy trading business. Several business segments experienced improved results compared to the prior year quarter. The company also advocated for comprehensive energy reform legislation in Michigan to secure clean energy supplies and jobs.
Southern Company reported strong financial results for 2007. Earnings for the full year were $1.73 billion, or $2.29 per share, up from $1.57 billion, or $2.12 per share in 2006. For the fourth quarter, earnings were $204.1 million, or 27 cents per share, compared to $188.4 million, or 25 cents per share for the same period in 2006. The company benefited from a resilient Southeastern economy, customer growth of over 55,000, and record high electricity demand during summer heat waves that the company was able to reliably meet. Looking forward, the company expects continued customer and economic growth in its service region to provide a solid foundation.
Southern Company reported second quarter earnings of $429.2 million, or 57 cents per share, up from $385.2 million, or 52 cents per share in the second quarter of 2006. For the first six months of 2007, earnings were $767.8 million, or $1.02 per share, compared to $646.8 million, or 87 cents per share for the same period in 2006. Positive drivers for earnings included customer growth, economic expansion, and state regulatory actions, while expenses increased. Southern Company serves over 4.3 million customers across four states and reported increased electricity sales and total revenues for the quarter and year-to-date period.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
energy future holindings Q206 Earnings Release_Combined_FINALfinance29
TXU reported improved financial results for the second quarter and first half of 2006 compared to the same periods in 2005. Operational earnings per share increased 104% for the quarter and 107% year-to-date, driven by higher contribution margins, lower share counts, and other income gains, partially offset by higher expenses. TXU affirmed its outlook for 2006 operational earnings of $5.50-$5.75 per share and a 2% increase for 2007. The company also provided updates on its Power the Future of Texas program to develop new solid-fuel power generation capacity.
- Southern Company reported third quarter earnings of $780.4 million, or $1.01 per share, compared to $762 million, or $1.00 per share in the third quarter of 2007. Revenues increased 12.3% to $5.43 billion.
- Kilowatt-hour sales decreased 4.6% for the quarter and 1.7% for the first nine months of the year compared to the same periods in 2007, due primarily to milder weather.
- Earnings were positively impacted by increased retail rates and market-response rates for commercial and industrial customers, but offset by mild weather, asset depreciation, and a sluggish economy.
Southern Company reported its financial results for the fourth quarter and full year of 2008. For the full year, earnings were $1.74 billion compared to $1.73 billion in 2007. Kilowatt-hour sales to retail customers decreased 2.1% for the year. Revenues increased 11.6% for the full year to $17.13 billion due to higher retail rates and environmental cost recovery, but earnings were impacted by mild weather, a weak economy, and higher expenses. Looking ahead, economic challenges are expected to continue through 2009 but the long-term viability of the Southeast region remains strong.
Southern Company reported first quarter 2008 earnings of $359.2 million, up from $338.7 million in the first quarter of 2007. Revenues increased 8% to $3.68 billion. Kilowatt-hour sales to retail customers increased 1.4% due to growth in residential and commercial customers. Earnings were positively impacted by increased revenue from market-response rates and regulatory actions supporting infrastructure investments, which were partially offset by higher operations and maintenance expenses.
DTE Energy raised its 2008 earnings guidance based on strong expected performance across several business segments. It reported first quarter 2008 operating earnings of $128 million, up from $112 million in the first quarter of 2007, driven by higher earnings at its energy trading business. Several business segments experienced improved results compared to the prior year quarter. The company also advocated for comprehensive energy reform legislation in Michigan to secure clean energy supplies and jobs.
Southern Company reported strong financial results for 2007. Earnings for the full year were $1.73 billion, or $2.29 per share, up from $1.57 billion, or $2.12 per share in 2006. For the fourth quarter, earnings were $204.1 million, or 27 cents per share, compared to $188.4 million, or 25 cents per share for the same period in 2006. The company benefited from a resilient Southeastern economy, customer growth of over 55,000, and record high electricity demand during summer heat waves that the company was able to reliably meet. Looking forward, the company expects continued customer and economic growth in its service region to provide a solid foundation.
Southern Company reported second quarter earnings of $429.2 million, or 57 cents per share, up from $385.2 million, or 52 cents per share in the second quarter of 2006. For the first six months of 2007, earnings were $767.8 million, or $1.02 per share, compared to $646.8 million, or 87 cents per share for the same period in 2006. Positive drivers for earnings included customer growth, economic expansion, and state regulatory actions, while expenses increased. Southern Company serves over 4.3 million customers across four states and reported increased electricity sales and total revenues for the quarter and year-to-date period.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
energy future holindings Q206 Earnings Release_Combined_FINALfinance29
TXU reported improved financial results for the second quarter and first half of 2006 compared to the same periods in 2005. Operational earnings per share increased 104% for the quarter and 107% year-to-date, driven by higher contribution margins, lower share counts, and other income gains, partially offset by higher expenses. TXU affirmed its outlook for 2006 operational earnings of $5.50-$5.75 per share and a 2% increase for 2007. The company also provided updates on its Power the Future of Texas program to develop new solid-fuel power generation capacity.
Altria reported its 2008 third-quarter results, with adjusted diluted EPS up 15% to $0.46. PM USA's adjusted OCI increased 6.3% due to lower promotional rates and costs. Marlboro gained retail share. Altria reaffirmed its full-year EPS guidance of $1.63 to $1.67, representing 9-11% growth. It also announced that its proposed acquisition of UST passed federal antitrust review.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
energy future holindings 07Q2ERExhibits_FINALfinance29
TXU reported financial results for the second quarter and first half of 2007. Net income was $121 million for Q2 2007, down from $497 million in Q2 2006, due to unrealized hedge losses and charges related to suspending generation projects. For the first half, TXU reported a net loss of $377 million compared to net income of $1,073 million in 2006, again due to hedge losses and generation project charges. Operational earnings, which exclude special items, were $430 million for Q2 2007 and $873 million for the first half, lower than the prior year periods due to factors including weather, plant outages, and lower prices. TXU continued to make progress on its proposed merger
Southern Company reported second quarter earnings of $385.2 million, or 52 cents per share, driven by increased electricity usage from warm weather and customer growth. Total revenues for the quarter increased 15.1% year-over-year to $3.59 billion. However, earnings were partially offset by higher operations and maintenance expenses and the negative impact of rising oil prices on Southern Company's synthetic fuels investments. Looking forward, Southern Company expects earnings per share growth of 5% annually and has set a goal of earning at least $300 million annually from its competitive wholesale generation business by 2007.
2 q08 financial and operating results presentationEquatorial
This document provides operating and financial results for CEMAR, Light, and Equatorial for 2Q08 and 1H08. Key highlights include:
- Billed energy volume was down 0.9% year-over-year for 1H08. CEMAR was up 2.1% while Light was down 1.2%.
- CEMAR's losses improved to 28.8% in 2Q08, down 0.7 percentage points from 2Q07. Light's losses held steady at 20.4%.
- Net operating revenue increased 6.1% to R$1,111.4 million for 1H08, with EBITDA up 4.0% to R$338
Atmos Energy reported financial results for fiscal year 2008, with net income of $180.3 million compared to $168.5 million the prior year. Regulated operations contributed $134.1 million of net income compared to $107.9 million the previous year. For the fourth quarter, net income was $1.6 million compared to a net loss of $5.9 million in the prior year fourth quarter, with regulated operations reporting a seasonal net loss of $14.7 million. Atmos Energy affirmed its fiscal year 2009 earnings guidance of $2.05 to $2.15 per diluted share.
The document provides an overview of TRC Solutions' Q3 2016 financial results. Key points include:
1) Net service revenue increased 20% year-over-year to $121.3 million, with growth in infrastructure and declines in energy and environmental.
2) Adjusted EBITDA was $7.9 million, excluding one-time acquisition and integration costs and a goodwill impairment.
3) A goodwill impairment charge of $24.5 million was recorded for the pipeline services segment due to challenges in the oil and gas market.
4) The company continues focusing on organic growth opportunities in strategic markets like utilities and transportation infrastructure.
Altria Group reported higher earnings for the second quarter of 2008 compared to the same period in 2007. Adjusted diluted earnings per share increased 12.2% as Philip Morris USA's operating income grew 3.8% and cigar maker John Middleton delivered strong volume gains of 11%. Altria reaffirmed its full-year guidance for adjusted diluted earnings per share growth of 9-11%.
DTE Energy reported lower second quarter earnings compared to the previous year, but operating earnings were higher. While the electric and gas utilities saw improved earnings, the non-utility businesses had lower earnings due to accounting deferrals and oil hedging losses. However, DTE Energy reaffirmed its full-year operating earnings guidance.
This document summarizes an earnings conference call for Integrys Energy Group for the first quarter of 2008. Key highlights included achieving their 50th consecutive year of dividend increases and completing integration of the Peoples Energy acquisition. Financial results were presented, showing income from continuing operations of $136.6 million compared to $117.2 million in the prior year. Segment results and capital expenditure plans were also reviewed. Guidance for 2008 diluted EPS of $3.37-$3.82 was provided.
Southern Company reported second quarter 2004 earnings of $352 million, or $0.48 per share, matching analyst expectations. This was comparable to adjusted earnings of $349 million, or $0.49 per share, in the second quarter of 2003. Warmer weather and customer growth contributed positively to earnings, though this was partly offset by increased expenses related to maintenance projects. For the first six months of 2004, earnings were $683 million, or $0.93 per share, up from adjusted earnings of $647 million, or $0.90 per share, in the same period of 2003. The company reaffirmed its 2004 EPS guidance range of $1.94-$1.99.
- Air Products reported record third quarter revenues and earnings, with net income of $285 million and diluted EPS of $1.28. Revenues increased 16% to a record $2.595 billion due to higher volumes and pricing.
- All six of Air Products' business segments saw sales increases compared to the prior year, with the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments experiencing the strongest growth.
- Based on continued strong demand, Air Products raised its full-year EPS guidance to a range of $4.30 to $4.35, representing 23-24% year-over-year growth.
Southern Company reported solid fourth quarter and full year 2005 earnings. Fourth quarter earnings were $158.9 million compared to $204.5 million in 2004, while full year 2005 earnings were $1.59 billion compared to $1.53 billion in 2004. The positive results were driven by continued economic strength in the Southeast region and customer growth. However, earnings were partially offset by increased operating and maintenance expenses to serve growing energy demand. Looking ahead, Southern Company expects earnings per share growth of 5% annually through 2008 and will focus on its regulated retail business and growing its competitive wholesale generation business.
TXU reported strong financial results for the second quarter of 2003, with earnings from continuing operations exceeding market expectations. Earnings from continuing operations were $171 million, or $0.49 per share, compared to expectations of $0.35 per share. Total earnings, including discontinued operations, were $105 million or $0.31 per share. TXU reaffirmed its full year guidance for earnings from continuing operations of $2.00 to $2.10 per share.
DTE Energy reported a loss for the second quarter of 2006 compared to earnings in the same period in 2005. Operating earnings excluding special items were nearly break-even, with higher earnings from the electric utility offset by losses in other segments due to oil hedging costs and falling natural gas prices. Despite the quarterly loss, DTE maintained its full-year 2006 earnings guidance. Capital investment continued across all business segments to improve operations and support growth.
Southern Company reported strong full-year 2006 earnings of $1.57 billion, bolstered by continued economic growth and customer base expansion in the Southeast. Fourth quarter earnings were $188.4 million, up from $158.9 million in the prior year. Key drivers were the addition of over 70,000 new customers and growth in the competitive wholesale generation business through new capacity and contract extensions. However, earnings were offset by a reduction in synthetic fuels tax credits and higher interest and operating expenses. Looking forward, Southern Company expects 2007 earnings per share of $2.13 to $2.18 excluding synthetic fuels impacts.
This policy outlines Office Depot's procedures for reviewing and approving related person transactions. It defines related persons as executives, directors, 5% shareholders or their family members. It requires these transactions be approved in advance by the Governance Committee if they exceed $120,000, unless they qualify as ordinary course transactions. The General Counsel determines if transactions require review. The committee must decide if proposed deals are in the company's best interest and on fair market terms.
This document is a notice and proxy statement for Southern Company's 2000 Annual Meeting of Stockholders. It provides information on the meeting such as date, time, location, and items to be voted on including election of directors and approval of the company's performance pay plan. It also summarizes information on corporate governance, director compensation, board committees, and provides biographies of the nominees for election as directors.
This document outlines the corporate governance guidelines for Computer Sciences Corporation. It addresses the role of the board of directors in overseeing management and acting in good faith. It also covers the composition of the board, including the size, selection process, and independence of directors. The document provides qualifications for directors, including limits on other board service and procedures for changes in job responsibilities. It describes board committees, conduct of meetings, access to management and advisors, performance evaluations, director compensation, orientation, education, and succession planning.
Altria reported its 2008 third-quarter results, with adjusted diluted EPS up 15% to $0.46. PM USA's adjusted OCI increased 6.3% due to lower promotional rates and costs. Marlboro gained retail share. Altria reaffirmed its full-year EPS guidance of $1.63 to $1.67, representing 9-11% growth. It also announced that its proposed acquisition of UST passed federal antitrust review.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
energy future holindings 07Q2ERExhibits_FINALfinance29
TXU reported financial results for the second quarter and first half of 2007. Net income was $121 million for Q2 2007, down from $497 million in Q2 2006, due to unrealized hedge losses and charges related to suspending generation projects. For the first half, TXU reported a net loss of $377 million compared to net income of $1,073 million in 2006, again due to hedge losses and generation project charges. Operational earnings, which exclude special items, were $430 million for Q2 2007 and $873 million for the first half, lower than the prior year periods due to factors including weather, plant outages, and lower prices. TXU continued to make progress on its proposed merger
Southern Company reported second quarter earnings of $385.2 million, or 52 cents per share, driven by increased electricity usage from warm weather and customer growth. Total revenues for the quarter increased 15.1% year-over-year to $3.59 billion. However, earnings were partially offset by higher operations and maintenance expenses and the negative impact of rising oil prices on Southern Company's synthetic fuels investments. Looking forward, Southern Company expects earnings per share growth of 5% annually and has set a goal of earning at least $300 million annually from its competitive wholesale generation business by 2007.
2 q08 financial and operating results presentationEquatorial
This document provides operating and financial results for CEMAR, Light, and Equatorial for 2Q08 and 1H08. Key highlights include:
- Billed energy volume was down 0.9% year-over-year for 1H08. CEMAR was up 2.1% while Light was down 1.2%.
- CEMAR's losses improved to 28.8% in 2Q08, down 0.7 percentage points from 2Q07. Light's losses held steady at 20.4%.
- Net operating revenue increased 6.1% to R$1,111.4 million for 1H08, with EBITDA up 4.0% to R$338
Atmos Energy reported financial results for fiscal year 2008, with net income of $180.3 million compared to $168.5 million the prior year. Regulated operations contributed $134.1 million of net income compared to $107.9 million the previous year. For the fourth quarter, net income was $1.6 million compared to a net loss of $5.9 million in the prior year fourth quarter, with regulated operations reporting a seasonal net loss of $14.7 million. Atmos Energy affirmed its fiscal year 2009 earnings guidance of $2.05 to $2.15 per diluted share.
The document provides an overview of TRC Solutions' Q3 2016 financial results. Key points include:
1) Net service revenue increased 20% year-over-year to $121.3 million, with growth in infrastructure and declines in energy and environmental.
2) Adjusted EBITDA was $7.9 million, excluding one-time acquisition and integration costs and a goodwill impairment.
3) A goodwill impairment charge of $24.5 million was recorded for the pipeline services segment due to challenges in the oil and gas market.
4) The company continues focusing on organic growth opportunities in strategic markets like utilities and transportation infrastructure.
Altria Group reported higher earnings for the second quarter of 2008 compared to the same period in 2007. Adjusted diluted earnings per share increased 12.2% as Philip Morris USA's operating income grew 3.8% and cigar maker John Middleton delivered strong volume gains of 11%. Altria reaffirmed its full-year guidance for adjusted diluted earnings per share growth of 9-11%.
DTE Energy reported lower second quarter earnings compared to the previous year, but operating earnings were higher. While the electric and gas utilities saw improved earnings, the non-utility businesses had lower earnings due to accounting deferrals and oil hedging losses. However, DTE Energy reaffirmed its full-year operating earnings guidance.
This document summarizes an earnings conference call for Integrys Energy Group for the first quarter of 2008. Key highlights included achieving their 50th consecutive year of dividend increases and completing integration of the Peoples Energy acquisition. Financial results were presented, showing income from continuing operations of $136.6 million compared to $117.2 million in the prior year. Segment results and capital expenditure plans were also reviewed. Guidance for 2008 diluted EPS of $3.37-$3.82 was provided.
Southern Company reported second quarter 2004 earnings of $352 million, or $0.48 per share, matching analyst expectations. This was comparable to adjusted earnings of $349 million, or $0.49 per share, in the second quarter of 2003. Warmer weather and customer growth contributed positively to earnings, though this was partly offset by increased expenses related to maintenance projects. For the first six months of 2004, earnings were $683 million, or $0.93 per share, up from adjusted earnings of $647 million, or $0.90 per share, in the same period of 2003. The company reaffirmed its 2004 EPS guidance range of $1.94-$1.99.
- Air Products reported record third quarter revenues and earnings, with net income of $285 million and diluted EPS of $1.28. Revenues increased 16% to a record $2.595 billion due to higher volumes and pricing.
- All six of Air Products' business segments saw sales increases compared to the prior year, with the Merchant Gases, Tonnage Gases, and Electronics and Performance Materials segments experiencing the strongest growth.
- Based on continued strong demand, Air Products raised its full-year EPS guidance to a range of $4.30 to $4.35, representing 23-24% year-over-year growth.
Southern Company reported solid fourth quarter and full year 2005 earnings. Fourth quarter earnings were $158.9 million compared to $204.5 million in 2004, while full year 2005 earnings were $1.59 billion compared to $1.53 billion in 2004. The positive results were driven by continued economic strength in the Southeast region and customer growth. However, earnings were partially offset by increased operating and maintenance expenses to serve growing energy demand. Looking ahead, Southern Company expects earnings per share growth of 5% annually through 2008 and will focus on its regulated retail business and growing its competitive wholesale generation business.
TXU reported strong financial results for the second quarter of 2003, with earnings from continuing operations exceeding market expectations. Earnings from continuing operations were $171 million, or $0.49 per share, compared to expectations of $0.35 per share. Total earnings, including discontinued operations, were $105 million or $0.31 per share. TXU reaffirmed its full year guidance for earnings from continuing operations of $2.00 to $2.10 per share.
DTE Energy reported a loss for the second quarter of 2006 compared to earnings in the same period in 2005. Operating earnings excluding special items were nearly break-even, with higher earnings from the electric utility offset by losses in other segments due to oil hedging costs and falling natural gas prices. Despite the quarterly loss, DTE maintained its full-year 2006 earnings guidance. Capital investment continued across all business segments to improve operations and support growth.
Southern Company reported strong full-year 2006 earnings of $1.57 billion, bolstered by continued economic growth and customer base expansion in the Southeast. Fourth quarter earnings were $188.4 million, up from $158.9 million in the prior year. Key drivers were the addition of over 70,000 new customers and growth in the competitive wholesale generation business through new capacity and contract extensions. However, earnings were offset by a reduction in synthetic fuels tax credits and higher interest and operating expenses. Looking forward, Southern Company expects 2007 earnings per share of $2.13 to $2.18 excluding synthetic fuels impacts.
This policy outlines Office Depot's procedures for reviewing and approving related person transactions. It defines related persons as executives, directors, 5% shareholders or their family members. It requires these transactions be approved in advance by the Governance Committee if they exceed $120,000, unless they qualify as ordinary course transactions. The General Counsel determines if transactions require review. The committee must decide if proposed deals are in the company's best interest and on fair market terms.
This document is a notice and proxy statement for Southern Company's 2000 Annual Meeting of Stockholders. It provides information on the meeting such as date, time, location, and items to be voted on including election of directors and approval of the company's performance pay plan. It also summarizes information on corporate governance, director compensation, board committees, and provides biographies of the nominees for election as directors.
This document outlines the corporate governance guidelines for Computer Sciences Corporation. It addresses the role of the board of directors in overseeing management and acting in good faith. It also covers the composition of the board, including the size, selection process, and independence of directors. The document provides qualifications for directors, including limits on other board service and procedures for changes in job responsibilities. It describes board committees, conduct of meetings, access to management and advisors, performance evaluations, director compensation, orientation, education, and succession planning.
This investor presentation provides an overview of Office Depot's business, including industry trends, financial performance, strategic priorities, and business updates. Key points include:
- Office Depot is a leading global provider of office supplies and services with $14.5 billion in annual sales.
- Macroeconomic weakness negatively impacted 2007 results, though strategic actions have improved profitability.
- Strategic priorities focus on cash management, growing services, inventory management, and reducing costs.
- Business unit updates outline actions to pursue small/medium businesses, improve margins, and reduce operating expenses.
- Global sourcing initiatives aim to increase private brand penetration and margins.
million in 1999. This was offset by lower interest costs result-
ing from debt refinancing. Interest charges increased $48 million
The traditional electric utility business of Southern Company in 1998 as a result of higher average debt balances outstanding.
reported earnings of $1.1 billion in 1999. Revenues declined Income taxes decreased $28 million in 1999 due to lower pre-
$238 million from 1998 primarily due to a rate reduction at tax earnings. Income taxes increased $16 million in 1998 due to
Georgia Power. Energy sales increased 1.7% for retail custom- higher pre-tax earnings.
ers and declined for wholesale sales. Fuel and purchased power
costs were relatively flat while
The document is a notice and proxy statement for the 2006 Annual Meeting of Stockholders of Southern Company. It provides information about the meeting such as date, time, location, items of business to be voted on, and how to vote. It also summarizes information about corporate governance, director compensation, and executive compensation. Key details include the meeting will take place on May 24, 2006 in Pine Mountain, Georgia, the record date for stockholders entitled to vote is March 27, 2006, and 10 members of the Board of Directors are up for election.
This document is PACCAR Inc's quarterly report filed with the SEC for the quarter ended March 31, 2003. It includes:
1) Financial statements such as the consolidated balance sheet, income statement, and statement of cash flows for the quarter.
2) Notes to the financial statements providing additional details.
3) Disclosure of accounting changes related to stock-based compensation.
4) Details of comprehensive income and accumulated other comprehensive loss.
This investor presentation provides an overview of Office Depot's business, including industry trends, financial performance, strategic priorities, and business updates. Key points include:
- Office Depot is a leading global provider of office supplies and services with $14.5 billion in 2008 sales across multiple channels.
- While performance improved under new management from 2004-2007, macroeconomic weakness impacted results in late 2007.
- Strategic priorities include cash management, improving margins in North American retail and business solutions, and reducing costs internationally.
- Business updates indicate actions to reduce costs, close underperforming stores and facilities, increase high-margin services, and improve sourcing through private brand expansion.
This document summarizes an interview with Gale Klappa, Executive Vice President and CFO of Southern Company, about the company's strong financial performance in 2002 and outlook for 2003. Some of the factors contributing to 2002 results were regional growth, favorable weather, a strong balance sheet, and successful competitive generation business. The company expects earnings of $1.84 per share in 2003, assuming no significant industrial demand growth. Investors can be confident in Southern Company's financial reporting and dividend history. Progress on a $35 million annual goal for the products and services business by 2004 was also discussed.
The document is a notice and proxy statement for Gap Inc.'s annual shareholder meeting to be held on June 2, 2008. It informs shareholders that the meeting will take place at 10:00am at Gap Inc. headquarters in San Francisco to vote on electing directors, ratifying the selection of the accounting firm Deloitte & Touche, and approving an amendment to increase shares available under the employee stock purchase plan. It provides details on voting procedures, admission to the meeting, the items of business to be addressed, and information about Gap Inc.'s corporate governance policies and director and executive compensation.
The document outlines the corporate governance guidelines of Office Depot, Inc. It discusses board composition, including the election of the chair and lead director, board size, selection of director candidates, and board membership criteria. It also covers director orientation and continuing education, director independence, retirement age and term limits for directors, and board compensation. The guidelines address board interaction with senior management and independent advisors, as well as board meetings, including meeting frequency and agenda setting.
The document outlines Office Depot's corporate governance guidelines. It discusses the board composition including the election of the chair and lead director. It also covers director independence, selection of candidates, orientation and continuing education. The document provides guidance on board meetings, committees, leadership development, conflicts of interest and an annual review of the CEO.
David Ratcliffe will become President of Southern Company in April and Chairman and CEO in July, succeeding Allen Franklin who will retire after 34 years with the company. Ratcliffe praises Franklin's leadership and the consistent success Southern Company has achieved. He expresses confidence in the company's strategy and team to continue delivering solid long-term results and earnings growth of 5% annually. The transition will be seamless as Southern Company's strengths remain its focus on the Southeast region and balanced business portfolio.
Southern Company reported second quarter earnings of $387 million, up from $352 million in the second quarter of 2004. Earnings for the first six months of 2005 were $710 million, compared to $683 million for the same period last year. Factors contributing positively included continued economic strength and customer growth in the Southeast. However, extremely mild weather in the second quarter offset some of these gains. Southern Company's focus on business execution and a strong regional economy contributed to solid performance despite rising energy prices and mild weather. Total sales to customers decreased 1.8% compared to the second quarter of 2004. Southern Company's business outlook focuses on its regulated retail business and growing its competitive wholesale generation business.
Southern Company reported steady third quarter earnings of $762 million compared to $738 million in the third quarter of 2006. Earnings for the first nine months of 2007 were $1.53 billion compared to $1.38 billion for the same period in 2006. The positive earnings were driven by customer growth of 1.5% and regulatory actions, but were offset by higher expenses. Southern Company continues to focus on reliable operations, customer satisfaction, and earnings growth of 5% on average over the long term.
Genuine Parts Company reported financial results for the second quarter and first half of 2009, with sales and earnings decreasing compared to the same periods in 2008 due to difficult economic conditions. Sales were down 12% for the quarter and 11% year-to-date, while net income decreased 22% and 25% respectively. The automotive and office products groups saw smaller sales declines than the industrial and electrical groups. The company remains financially strong with a healthy balance sheet and cash flows.
DTE Energy raised its 2008 earnings guidance due to strong expected performance across several business segments. It reported first quarter 2008 earnings of $212 million compared to $134 million in first quarter 2007. Operating earnings for first quarter 2008 were $128 million compared to $112 million in first quarter 2007, driven by higher earnings from energy trading. Several business segments experienced improved earnings compared to first quarter 2007. DTE Energy also saw higher cash flows from operations compared to first quarter 2007.
Southern Company reported first quarter 2006 earnings of $261.6 million, down from $323 million in the first quarter of 2005. Earnings per share were $0.35 compared to $0.43 in 2005. The decrease was due to expensing of stock options, a reserve related to synthetic fuels tax credits, and increased operation and maintenance costs. However, economic and customer growth in the Southeast remained strong, with over 53,000 additional customers served compared to the previous year. For the full year, Southern Company expects continued growth in its regulated retail business, driven by projected long-term demand and customer increases of 2.0% and 1.8%, respectively.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings, which exclude asset sales, were $2.82 per share, down slightly from $2.89 per share in 2006. For 2008, DTE Energy expects operating earnings between $2.70 to $3.10 per share and continues its focus on investments in its utility businesses.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings excluding special items were $2.82 per share, down slightly from $2.89 per share in 2006. DTE Energy expects over 80% of its earnings to come from its utility businesses going forward and provided 2008 operating earnings guidance of $2.70 to $3.10 per share.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas exploration business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
Southern Company reported third quarter earnings of $738 million, or 99 cents per share, meeting record demand for electricity driven by customer and economic growth in the Southeast. For the first nine months of the year, earnings were $1.38 billion, or $1.86 per share. Kilowatt-hour sales increased 2.3% in the third quarter compared to the previous year. Southern Company remains focused on reliability, customer satisfaction, and competitive returns while investing $10 billion over 2006-2008 in infrastructure and generation.
Southern Company reported second quarter earnings of $432 million, or $0.60 per share, compared to $332 million, or $0.47 per share in the second quarter of 2002. Results included an after-tax gain of $88 million from terminating wholesale power contracts with Dynegy. Earnings for the first six months of 2003 were $730 million compared to $556 million in the same period in 2002. Customer growth was 1.6% higher than the prior year. Mild weather reduced retail electricity demand but boosted wholesale sales. Southern Company remains on track to meet financial and operational targets for the year.
Atmos Energy Corporation reported earnings for the fiscal 2008 first quarter. Net income was $73.8 million compared to $81.3 million in the prior year. Regulated operations contributed higher net income of $50 million while nonregulated operations contributed lower net income of $23.8 million due to less volatility in natural gas prices. Atmos affirmed its fiscal 2008 earnings guidance of $1.95 to $2.05 per share.
Southern Company reported first quarter earnings of $323.0 million, down slightly from $331.1 million in the same period last year. Revenues increased 4.8% to $2.86 billion due to continued customer and economic growth in the Southeast, though mild weather reduced electricity demand. Kilowatt-hour sales decreased 0.8% overall with residential use down 3.5% and commercial use up 0.9%. The company reaffirmed its 2005 EPS guidance range of $2.04 - $2.09 and outlined capital expenditure plans of $7.9 billion from 2005-2007 focused on infrastructure investment and growing its competitive generation business.
fpl group library.corporate-4Q08%20 Slides_FINALfinance17
- FPL Group reported record adjusted earnings per share for 2008, driven by strong performance at NextEra Energy Resources. However, FPL experienced challenges from the difficult economic environment in Florida.
- NextEra Energy Resources had another strong quarter and year, with adjusted EPS up over 60% for Q4 2008 and 30% for full year 2008, driven by new project additions and existing asset contributions.
- For 2009, FPL Group expects adjusted EPS to remain flat compared to 2008, assuming normal weather and economic conditions. FPL Group is well positioned to benefit from policies supporting renewable energy and a transition to a lower carbon future.
- Unisys reported an operating profit of $22.6 million in Q2 2008 compared to $2.5 million in Q2 2007. Revenue declined 3% to $1.34 billion from $1.38 billion.
- Services orders grew single digits driven by outsourcing gains, while revenue declined due to weakness in financial services. Cash flow from operations more than doubled to $52 million from $23 million in Q2 2007.
- The company reported a net loss of $14 million or $0.04 per share, an improvement from a net loss of $65.5 million or $0.19 per share in Q2 2007.
TRW Automotive Holdings Corp. reported first quarter 2008 financial results with sales of $4.1 billion, a 16.2% increase over the same period in 2007. Net earnings were $94 million or $0.92 per diluted share, compared to a net loss of $86 million or $0.87 per share in 2007. The company increased its full year 2008 sales outlook to a range of $16.2 to $16.6 billion and net earnings per share outlook to a range of $2.30 to $2.60.
- Air Products reported record second quarter revenue of $2.47 billion, up 11% from the prior year, and net income of $228 million, or diluted EPS of $1.02, up 16% and 19% respectively.
- All business segments saw sales increases except for Equipment and Energy, driven by strong volumes. Merchant Gases led with 17% sales growth and 23% operating income growth.
- The company raised its full-year EPS guidance to a range of $4.12 to $4.20, representing 18-20% growth over the prior year.
- Sprint Nextel reported financial results for Q4 and full-year 2007, with consolidated revenues of $9.8 billion for Q4 and $40.1 billion for the year.
- A non-cash goodwill impairment charge of $29.7 billion was recorded in Q4, resulting in a net loss of $29.5 billion for the quarter.
- Wireless profitability declined in Q4 due to lower service revenues and higher expenses, though data revenues grew. Wireline profitability increased.
- The company is taking actions to increase financial flexibility, including borrowing funds and discontinuing dividend payments for the foreseeable future.
The document is the transcript from Integrys Energy Group's Third Quarter 2008 Earnings Conference Call on November 6, 2008. In the call, Integrys Energy Group discusses their third quarter 2008 financial results, revised guidance for 2008, liquidity and financing plans, and capital investment plans. Key highlights included a net loss for the quarter driven by large non-cash mark-to-market losses at Integrys Energy Services, revised 2008 EPS guidance lowered due to higher costs and losses, and planned capital expenditures of $1.7 billion through 2010 focused on utility infrastructure investments.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup costs and a temporary rate reduction. The company expects to meet its annual operating earnings guidance and sees strong cash flow providing flexibility for growth.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup. The company expects to meet its annual operating earnings guidance and sees underlying business performing well despite some one-time items.
This document outlines Computer Sciences Corporation's equity grant policy, including the types of equity grants awarded, grant dates, approval process, and reporting requirements. It states that CSC issues equity grants to directors and employees to attract, retain, and motivate them. Equity grants include stock options, restricted stock, and restricted stock units. Grant dates depend on whether the recipient is a director, new hire, promotion, or current employee. Senior executive grants require higher levels of approval than non-senior grants. The company must stay within an approved annual equity grant budget.
The document outlines the bylaws of Computer Sciences Corporation. It details the principal office location, procedures for annual and special stockholder meetings, requirements for submitting items and nominations for consideration at meetings, and election of directors. Key details include timelines for submitting proposals/nominations, information required to be provided, and requirements for stockholders to present submitted items at meetings.
This document restates the articles of incorporation of Computer Sciences Corporation. It outlines the corporation's name, principal office location, nature of business, capital stock structure including 750 million shares of common stock and 1 million shares of preferred stock. It provides the board of directors authority to establish terms for preferred stock series and outlines shareholder rights and restrictions.
This document outlines a supplemental code of ethics specifically for a company's Chairman and Chief Executive Officer, Vice President and Chief Financial Officer, and Vice President and Chief Accounting Officer. The code builds upon the company's existing code of ethics and standards of conduct applicable to all directors, officers, and employees. It requires these executives to act with honesty and integrity, avoid conflicts of interest, ensure full financial disclosure, comply with all applicable laws and regulations, and promptly report any unethical or illegal conduct. Violations will be reported to the board of directors who will determine appropriate accountability actions.
This document outlines the Code of Ethics and Standards of Conduct for Computer Sciences Corporation (CSC). It discusses CSC's commitment to ethics, integrity and social responsibility. It also summarizes the principles of avoiding conflicts of interest, protecting company and customer property, providing accurate records and reports, maintaining a professional work environment, and procedures for reporting violations. Adherence to the Code is required by all CSC directors, employees and representatives.
This document provides an investor highlights report for Computer Sciences Corporation (CSC) for the first quarter of fiscal year 1997. It summarizes that CSC reported a 20% increase in net income and 20.5% increase in revenue compared to the same quarter the previous year. It also announces three acquisitions that further expanded CSC's industry-specific consulting services. CSC operates in strong markets for information technology services and sees continued growth opportunities.
CSC reported $1.36 billion in revenue for the second quarter of FY1997, a 20.1% increase over the previous year. CSC earned $49.3 million excluding a one-time $48.9 million charge related to an acquisition. For the first six months of FY1997, CSC reported $2.66 billion in revenue and $94.6 million in net income excluding the charge. CSC operates in commercial and government IT markets, with growing demand for outsourcing and consulting services.
Computer Sciences Corporation reported a 15.5% increase in earnings per share for the first quarter of fiscal year 1998. Revenue rose 14.2% to $1.488 billion, with growth in commercial, European, and other international sectors. While US federal revenue declined slightly due to contract completions, the company expects this sector to improve over the fiscal year as new contracts are implemented. Overall, CSC's business continues to demonstrate strong growth trends across its consulting, systems integration, and outsourcing services.
Computer Sciences Corporation reported financial results for the second quarter of fiscal year 1998, ended September 26, 1997. Revenue increased 16.5% to $1.58 billion compared to the previous year. Net income grew 18.8% to $58.6 million. The company provides management consulting, systems integration, and outsourcing services worldwide to industry and government clients. New contracts were announced during the quarter, and the company expects continued revenue growth for the remainder of the fiscal year.
The document is a quarterly report from Computer Sciences Corporation (CSC) providing key financial information and highlights for investors. It summarizes that CSC's revenue increased 17.1% in the third quarter of fiscal year 1998 compared to the previous year. Net income also rose 20.5% over the same period. The report further outlines CSC's business segments and global operations, as well as new contracts and growth in key market sectors during the quarter.
Computer Sciences Corporation (CSC) reported higher revenue and earnings for the first quarter of fiscal year 1999 compared to the same period the previous year. Revenue increased 17.8% to $1.75 billion while net income rose 22.2% to $64.3 million. The company also announced $2.8 billion in new contract awards during the quarter and saw growth across all of its major service categories. CSC's chairman attributed the strong results to continued expansion in key markets like financial services and healthcare as well as new strategic partnerships.
Computer Sciences Corporation (CSC) reported a 21.6% increase in earnings per share for the second quarter of fiscal year 1999 compared to the previous year. Revenue increased 17% to $1.85 billion driven by strong growth in Europe and the federal sector. For the first half of the fiscal year, net income rose 23.6% and revenues increased 17.4% over the previous year. CSC also acquired a majority stake in a French consulting firm, increasing its presence in that country.
Computer Sciences Corporation reported a 22.7% increase in earnings per share for the third quarter of fiscal year 1999 compared to the previous year. Net income increased 25.9% while revenues rose 15.9%. Growth was driven by strong performance in European operations, consulting, financial services, and lower interest costs. For the first nine months of the fiscal year, net income increased 24.5% while revenues were up 16.9% year-over-year.
Computer Sciences Corporation (CSC) reported a 20% increase in earnings per share and a 21.7% increase in net income for the first quarter of fiscal year 2000 compared to the same quarter the previous year. Revenue increased 17.6% to $2.06 billion driven by increased demand for outsourcing, enterprise solutions, e-business, and systems integration. CSC also announced over $4.7 billion in new business awards during the quarter and expects e-business revenue to triple to nearly $600 million for the full fiscal year.
Computer Sciences Corporation (CSC) reported higher earnings and revenue for the second quarter of fiscal year 2000 compared to the same period last year. Earnings per share rose 22.2% and net income increased 22.7% due to strong global commercial growth and improved operating performance. CSC continues to see significant demand for outsourcing and other services and rapid growth in requests for e-business solutions.
Computer Sciences Corporation (CSC) reported financial results for the third quarter of fiscal year 2000, ending December 31, 1999. Revenue was up 14.9% to $2.4 billion compared to the previous year. Earnings per share, excluding special items, were 66 cents, a 20% increase over the previous year. CSC received $3.5 billion in new business awards during the quarter and $9.6 billion year-to-date. Research analysts from various firms cover CSC stock, which trades on the New York Stock Exchange.
Computer Sciences Corporation (CSC) reported financial results for the first quarter of fiscal year 2001, ended June 30, 2000. Revenues increased 11.8% to $2.46 billion due to strong growth in the U.S. federal government, Asia-Pacific, and commercial outsourcing sectors. Net income grew 13.5% to $96 million and earnings per share increased to 56 cents. CSC also secured $3.3 billion in new business awards during the quarter and remains on track to achieve its target of $1 billion in e-business revenue for the fiscal year.
Computer Sciences Corporation (CSC) reported strong financial results for the second quarter of fiscal year 2001, with revenues increasing 12% to $2.5 billion and net income growing 17.1% to $109 million. For the first six months of the fiscal year, revenues were up 11.9% to $5 billion and net income increased 15.4% to $205 million. The company secured $7.7 billion in new contracts for the first half, fueling anticipated growth in the second half of the year.
Computer Sciences Corporation (CSC) reported financial results for the third quarter of fiscal year 2001, ended December 29, 2000. Revenues increased 12.9% to $2.7 billion due to growth in the federal government vertical market and commercial outsourcing. Earnings before special items increased 9.6% to $122.9 million. Major new business awards totaled $1.8 billion for the quarter. For the nine-month period, revenues increased 12.2% to $7.6 billion and earnings before special items increased 13.1% to $327.9 million, though results were impacted by currency effects and restructuring costs. CSC also discussed several new contracts and engagements.
Computer Sciences Corporation (CSC) reported financial results for the first quarter of fiscal year 2002, ended June 29, 2001. Revenue grew 10.2% to $2.7 billion due to strong growth in global outsourcing. Net income was $47.7 million. Commercial revenue grew 17% internationally due to outsourcing contracts in the UK and Scandinavia. Federal government revenue rose 3.9% despite some contract completions, with growth in civil agencies and GSA work. CSC will focus on larger outsourcing engagements and adjusting to reduced consulting demand, while progressing on improving recent outsourcing contracts.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
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Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
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Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
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Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
This assessment plan proposal is to outline a structured approach to evaluati...
southern 2008 2nd
1. Southern Company
2nd Quarter 2008 Earnings
June 30, 2008
Contents
Press Release 1
Financial Highlights 4
Significant Factors Impacting EPS 4
EPS Earnings Analysis 5
Consolidated Earnings 6
Kilowatt-Hour Sales 6
Financial Overview 7
NOTE: Updated as of February 25, 2009 to reflect revised wholesale and total kilowatt-hour sales statistical data. Total kilowatt-hour
sales for the three months ended June 30, 2008 decreased 0.7% and were flat for the six months ended June 30, 2008 as compared to
2007. Wholesale kilowatt-hour sales for the three months ended June 30, 2008 increased 1.0% and decreased 0.5% for the six months
ended June 30, 2008 as compared to 2007. See page 6 for revised wholesale and total kilowatt-hour sales statistical data for the three
and six months ended June 30, 2008 and 2007. The total kilowatt-hour sales data on page 2 of the earnings release has also been
revised. See page II-16 of the Company’s Annual Report on Form 10-K for a quarterly tabular presentation of this information. The
revisions to the kilowatt-hour sales statistical data do not affect the Company's financial statements.
2. News
Media Contact: Terri Cohilas
404-506-5333 or 1-866-506-5333
media@southerncompany.com
www.southerncompany.com
Investor Relations Contact:
Glen Kundert
404-506-5135
gakunder2@southernco.com
July 30, 2008
Southern Company reports second quarter earnings
ATLANTA – Southern Company (NYSE: SO) today reported second quarter earnings of $416.4 million,
or 54 cents a share, compared with $429.2 million for the second quarter of 2007, or 57 cents a share, in
the same period a year ago.
For the six months ended June 30, Southern Company’s earnings were $775.6 million, or $1.01 a share,
compared with $767.8 million, or $1.02 a share, for the same period a year ago.
Earnings for the second quarter and six months ended June 30, 2008, included a $67 million charge, or 9
cents per share, related to three leveraged leases from the 1990s when Southern Company pursued
development of international energy projects. Earnings for the second quarter and six months ended June
30, 2007, included synthetic fuel earnings of 2 cents per share and 5 cents per share, respectively.
Excluding the impact of synthetic fuel investments and charges related to the leveraged leases, Southern
Company earned 63 cents a share for the second quarter of 2008, compared with 55 cents a share for the
same period in 2007, and earnings for the first six months of 2008 were $1.10 a share, compared with 97
cents a share for the same period in 2007.
Revenues for the second quarter were $4.22 billion, compared with $3.77 billion in the same period a year
ago, an 11.8 percent increase. For the first six months of the year, revenues totaled $7.90 billion,
compared with $7.18 billion in the same period a year ago, a 10 percent increase.
“Through hard work and dedication, our employees continue to safely provide reliable electricity to our
customers at prices below the national average and with industry leading customer service,” said Southern
Company Chairman, President and CEO David M. Ratcliffe. “By maintaining this focus on the execution
of our business strategy, we continue to produce solid results for our shareholders.”
As compared with the nation, the economic slowdown is less severe in the Southeast, as evidenced in part
by a job growth rate of 0.45 percent in the Southeast versus 0.04 percent for the nation. Although
3. customer growth has slowed, Southern Company has added 40,000 customers since the end of the second
quarter in 2007, a 0.9 percent increase.
Positive earnings drivers for the second quarter include recovery of investments made for transmission
and distribution infrastructure and environmental control technology. These investments are needed to
help ensure that Southern Company continues to meet growing demand, maintain reliability and produce
cleaner energy. Contributions from customers on our market-response rates also helped drive earnings.
The positive earnings drivers were offset in part by the charge for leveraged leases, asset depreciation
primarily associated with increased investment in environmental equipment and infrastructure, and higher
non-fuel operations and maintenance expenses.
In the second quarter, kilowatt-hour sales to retail customers in Southern Company’s four-state service
area decreased 1.2 percent compared with sales in the second quarter of 2007. Residential electricity sales
decreased 2.7 percent. Electricity sales to commercial customers increased 0.9 percent, and industrial sales
decreased 1.8 percent. Year-to-date, kilowatt-hour sales to retail customers increased 0.1 percent
compared with sales during the same period in 2007. Residential electricity sales decreased 0.4 percent.
Commercial sales increased 1.3 percent and industrial sales declined 0.7 percent.
Total energy sales to Southern Company’s customers in the Southeast, including wholesale sales,
decreased 0.7 percent in the second quarter of 2008 compared with the same period of 2007. Year-to-date,
total sales of electricity were flat as compared with the same period in 2007.
With nearly 4.4 million customers and more than 42,000 megawatts of generating capacity, Atlanta-based
Southern Company (NYSE: SO) is the premier energy company serving the Southeast, one of America’s
fastest-growing regions. A leading U.S. producer of electricity, Southern Company owns electric utilities
in four states and a growing competitive generation company, as well as fiber optics and wireless
communications. Southern Company brands are known for excellent customer service, high reliability and
retail electric prices that are significantly below the national average. Southern Company has been listed
the top ranking U.S. electric service provider in customer satisfaction for nine consecutive years by the
American Customer Satisfaction Index (ACSI). Visit our Web site at www.southerncompany.com.
Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current
expectations and plans that involve risks and uncertainties. Forward-looking information includes, among
other things, statements concerning results of operations and customer and economic growth. Southern
Company cautions that there are certain factors that can cause actual results to differ materially from the
forward-looking information that has been provided. The reader is cautioned not to put undue reliance on
this forward-looking information, which is not a guarantee of future performance and is subject to a
number of uncertainties and other factors, many of which are outside the control of Southern Company;
accordingly, there can be no assurance that such suggested results will be realized. The following factors,
in addition to those discussed in Southern Company’s Annual Report on Form 10-K for the year ended
December 31, 2007, and subsequent securities filings, could cause results to differ materially from
4. management expectations as suggested by such forward-looking information: the impact of recent and
future federal and state regulatory change, including legislative and regulatory initiatives regarding
deregulation and restructuring of the electric utility industry, implementation of the Energy Policy Act of
2005, environmental laws including regulation of water quality and emissions of sulfur, nitrogen,
mercury, carbon, soot, or particulate matter and other substances, and also changes in tax and other laws
and regulations to which Southern Company and its subsidiaries are subject, as well as changes in
application of existing laws and regulations; current and future litigation, regulatory investigations,
proceedings, or inquiries, including the pending EPA civil actions against certain Southern Company
subsidiaries, FERC matters, IRS audits, and Mirant matters; the effects, extent, and timing of the entry of
additional competition in the markets in which Southern Company’s subsidiaries operate; variations in
demand for electricity, including those relating to weather, the general economy, population and business
growth (and declines), and the effects of energy conservation measures; available sources and costs of
fuels; effects of inflation; ability to control costs; investment performance of Southern Company’s
employee benefit plans; advances in technology; state and federal rate regulations and the impact of
pending and future rate cases and negotiations, including rate actions relating to fuel and storm
restoration cost recovery; regulatory approvals related to the potential Plant Vogtle expansion, including
Georgia PSC and NRC approvals; the performance of projects undertaken by the non-utility businesses
and the success of efforts to invest in and develop new opportunities; internal restructuring or other
restructuring options that may be pursued; potential business strategies, including acquisitions or
dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Southern
Company or its subsidiaries; the ability of counterparties of Southern Company and its subsidiaries to
make payments as and when due and to perform as required; the ability to obtain new short- and long-
term contracts with neighboring utilities; the direct or indirect effect on Southern Company’s business
resulting from terrorist incidents and the threat of terrorist incidents; interest rate fluctuations and
financial market conditions and the results of financing efforts, including Southern Company’s and its
subsidiaries’ credit ratings; the ability of Southern Company and its subsidiaries to obtain additional
generating capacity at competitive prices; catastrophic events such as fires, earthquakes, explosions,
floods, hurricanes, droughts, pandemic health events such as an avian influenza, or other similar
occurrences; the direct or indirect effects on Southern Company’s business resulting from incidents
similar to the August 2003 power outage in the Northeast; and the effect of accounting pronouncements
issued periodically by standard setting bodies. Southern Company and its subsidiaries expressly disclaim
any obligation to update any forward-looking information.
###
5. Southern Company Page 4
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
3 Months Ended June Year-to-Date June
2008 2007 2008 2007
Consolidated Earnings–As Reported (Notes) (Notes) (Notes) (Notes)
(See Notes)
Traditional Operating Companies $ 452 $ 383 $ 794 $ 668
Southern Power 35 40 64 72
Total 487 423 858 740
Synthetic Fuels 1 12 (1) 41
Parent Company and Other (72) (6) (81) (13)
$ 416 $ 776
$ 429 $ 768
Net Income - As Reported
Basic Earnings Per Share - (See Notes) $ 0.54 $ 0.57 $ 1.01 $ 1.02
Average Shares Outstanding (in millions) 769 755 768 753
771 757
End of Period Shares Outstanding (in millions)
3 Months Ended June Year-to-Date June
2008 2007 2008 2007
Consolidated Earnings–Excluding Items
(See Notes)
Net Income - As Reported $ 416 $ 429 $ 776 $ 768
Leveraged Lease Adjustment 67 - 67 -
Synthetic Fuels (1) (12) 1 (41)
Net Income–Excluding Items $ 482 $ 417 $ 844 $ 727
Basic Earnings Per Share–Excluding Items $ 0.63 $ 0.55 $ 1.10 $ 0.97
Significant Factors Impacting EPS
3 Months Ended June Year-to-Date June
2008 2007 Change 2008 2007 Change
Consolidated Earnings–As Reported $ 0.54 $ 0.57 $ (0.03) $ $1.01 $ 1.02 $ (0.01)
(See Notes)
Significant Factors:
Traditional Operating Companies 0.09 0.16
Southern Power (0.01) (0.01)
Synthetic Fuels (0.02) (0.05)
Parent Company and Other (0.08) (0.09)
Additional Shares (0.01) (0.02)
Total–As Reported $ (0.03) $ (0.01)
3 Months Ended June Year-to-Date June
2008 2007 Change Change
2008 2007
Consolidated Earnings–Excluding Items $ 0.63 $ 0.55 $ 0.08 $ 1.10 $ 0.97 $ 0.13
(See Notes)
Total–As Reported (0.03) (0.01)
Leveraged Lease Adjustment 0.09 0.09
Synthetic Fuels 0.02 0.05
Total–Excluding Items $ 0.08 $ 0.13
Notes
- For the 3 months and 6 months ended June 2008 and 2007, diluted earnings per share are not more than 1 cent per share and are not material.
- The charge related to Southern Company's investments in leveraged lease transactions significantly impacted the presentation of earnings and
earnings per share for the three months and six months ended June 30, 2008, and significant charges related to these investments are not expected to
occur on a regular basis.
- Tax credits associated with Southern Company's synthetic fuel investments expired December 31, 2007.
Synthetic fuel related income no longer materially contributes to Southern Company's earnings or earnings per share.
- Certain prior year data has been reclassified to conform with current year presentation.
- Information contained in this report is subject to audit and adjustments. Certain classifications may be different from
final results published in the Form 10-Q.
6. Page 5
Southern Company
EPS Earnings Analysis
Three Months Ended June 2008
Cents Description
Retail Non-Fuel Revenues
$0.17
Weather Impact on Retail Non-Fuel Revenues
(0.01)
Other Income & Deductions
0.01
Non-Fuel O&M
(0.03)
Depreciation & Amortization
(0.04)
Taxes Other Than Income Taxes
(0.01)
$0.09 Total Traditional Operating Companies
Southern Power
(0.01)
Parent and Other (excluding leveraged lease adjustment)
0.01
Increase in Shares
(0.01)
$0.08 Total Change in QTD EPS (x-Items)
Synthetic Fuels
(0.02)
Leveraged Lease Adjustment
(0.09)
($0.03) Total Change - QTD EPS (As Reported)
Notes
- The charge related to Southern Company's investments in leveraged lease transactions
significantly impacted the presentation of earnings and earnings per share for the three
months and six months ended June 30, 2008, and significant charges related to these
investments are not expected to occur on a regular basis.
- Tax credits associated with Southern Company's synthetic fuel investments expired
December 31, 2007. Synthetic fuel related income no longer materially contributes to
Southern Company's earnings or earnings per share.
- Information contained in this report is subject to audit and adjustments. Certain
classifications may be different from final results published in the Form 10-Q.
7. Page 6
Southern Company
Consolidated Earnings
(In Millions of Dollars)
3 Months Ended June Year-to-Date June
2007 Change 2007 Change
2008 2008
Income Account-
Retail Revenue-
Fuel $ 1,392 $ 1,239 $ 153 $ 2,595 $ 2,332 $ 263
Non-Fuel 2,058 1,866 192 3,860 3,517 343
Wholesale Revenue 592 487 105 1,105 968 137
Other Electric Revenues 141 130 11 271 251 20
Non-regulated Operating Revenues 32 50 (18) 67 113 (46)
Total Revenues 4,215 3,772 443 7,898 7,181 717
Fuel and Purchased Power 1,819 1,558 261 3,364 2,938 426
Non-fuel O & M 915 875 40 1,812 1,723 89
Depreciation and Amortization 359 310 49 703 617 86
Taxes Other Than Income Taxes 198 185 13 387 368 19
Total Operating Expenses 3,291 2,928 363 6,266 5,646 620
Operating Income 924 844 80 1,632 1,535 97
Other Income, net (38) 24 (62) 25 55 (30)
Interest Charges and Dividends 245 233 12 478 461 17
Income Taxes 225 206 19 403 361 42
NET INCOME (See Notes) $ 416 $ 429 $ (13) $ 776 $ 768 $ 8
Kilowatt-Hour Sales
(In Millions of KWHs)
3 Months Ended June Year-to-Date June
Weather Weather
Adjusted Adjusted
As Reported (See Notes) 2007 Change Change 2007 Change Change
2008 2008
Kilowatt-Hour Sales-
Total Sales 49,931 50,306 -0.7% 98,096 98,124 0.0%
Total Retail Sales- 39,882 40,354 -1.2% -0.6% 78,458 78,395 0.1% 0.2%
Residential 12,127 12,460 -2.7% -0.8% 24,830 24,924 -0.4% 0.1%
Commercial 13,834 13,716 0.9% 0.9% 26,339 25,993 1.3% 1.3%
Industrial 13,688 13,940 -1.8% -2.0% 26,823 27,001 -0.7% -0.7%
Other 233 238 -1.9% -1.8% 466 477 -2.4% -2.3%
Total Wholesale Sales 10,049 9,952 1.0% N/A 19,638 19,729 -0.5% N/A
Notes
- Certain prior year data has been reclassified to conform with current year presentation.
- Information contained in this report is subject to audit and adjustments. Certain classifications may be different from final results published in the Form 10-Q.
8. Page 7
Southern Company
Financial Overview
(In Millions of Dollars)
3 Months Ended June Year-to-Date June
2008 2007 % Change 2008 2007 % Change
Consolidated –
Operating Revenues $ 4,215 $ 3,772 11.8% $ 7,898 $ 7,181 10.0%
Earnings Before Income Taxes 641 635 1.0% 1,179 1,129 4.4%
Net Income 416 429 -3.0% 776 768 1.0%
Alabama Power –
Operating Revenues $ 1,470 $ 1,336 10.0% $ 2,806 $ 2,533 10.8%
Earnings Before Income Taxes 257 250 2.8% 470 445 5.5%
Net Income Available to Common 153 147 3.9% 283 262 8.0%
Georgia Power –
Operating Revenues $ 2,111 $ 1,844 14.5% $ 3,976 $ 3,501 13.6%
Earnings Before Income Taxes 385 289 32.9% 649 492 31.8%
Net Income Available to Common 248 188 31.6% 424 320 32.6%
Gulf Power –
Operating Revenues $ 350 $ 298 17.3% $ 661 $ 595 11.2%
Earnings Before Income Taxes 44 35 25.5% 75 66 13.8%
Net Income Available to Common 27 21 26.9% 47 40 15.9%
Mississippi Power –
Operating Revenues $ 298 $ 273 9.0% $ 583 $ 530 10.1%
Earnings Before Income Taxes 38 43 -11.0% 64 75 -14.2%
Net Income Available to Common 24 26 -8.7% 40 46 -12.5%
Southern Power –
Operating Revenues $ 317 $ 244 29.7% $ 532 $ 437 21.9%
Earnings Before Income Taxes 60 66 -8.7% 106 119 -11.2%
Net Income Available to Common 35 40 -11.1% 64 72 -10.4%
Notes
- Certain prior year data has been reclassified to conform with current year presentation.
- Information contained in this report is subject to audit and adjustments. Certain classifications may be different from
final results published in the Form 10-Q.