Southern Company (the) · NYSE:SO
Southern Company (the) — Q2 2015 Earnings Presentation
13 slides from Southern Company (the)'s earnings presentation, Jul 29, 2015
Slide 1: Second Quarter 2015 Earnings Conference Call
Second Quarter 2015 Earnings Conference Call July 29, 2015
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain information contained in this presentation is forward‐looking information based on current expectations and plans that involve risks and uncertainties. Forward‐looking information includes, among other things, statements concerning project
Slide 3: A growing renewable portfolio with contributions from all major subsidiaries
A growing renewable portfolio with contributions from all major subsidiaries • 46 solar projects in seven states • Nation’s largest voluntary solar initiative in Georgia • Over 800 MW of contracted wind at Alabama Power, Georgia Power and Gulf Power • Over 1,200 MW of renewable resources owned by So
Slide 4: Vogtle Update
Vogtle Update Recent Progress Structural steel installation in Unit 3 Area 1 Annex Building In-ground work for Unit 3 switchyard Unit 4 cooling tower above 100 feet Set Unit 4 modules: CA04, CB65 and CB66 Near term • Set Unit 3 CA01 (expected early August) • Begin Unit 3 Shield Building inst
Slide 5: Vogtle Unit Activity
Vogtle Unit 3 Activity SOUTHERN COMPANY
Slide 6: Kemper Project Update
Kemper Project Update Expected in-service date for remainder of project is 1st half 2016 • Working through startup and checkout activities – Identifying and working to remediate issues along the way • Control systems design and operator training on track to support project milestones • Combined cycl
Slide 7: 2015 Earnings Results
2015 Earnings Results Q2 YTD Earnings Per Share $0.69 $1.25 Impact of increase in Kemper cost estimate $0.02 $0.02 MCAR settlement costs - $0.01 Earnings Per Share x-items $0.71 $1.28 7
Slide 8: Q2 2015 vs. Q2 2014 Adjusted EPS Drivers
Q2 2015 vs. Q2 2014 Adjusted EPS Drivers +3¢ -1¢ -1¢ Wholesale -5¢ +3¢ Operations Other +2¢ -1¢ Weather Operating $0.71 Revenues +2¢ Shares +1¢ +1¢ -3¢ Parent & $0.68 Retail +2¢ Other Revenue Retail Sales Non-fuel D&A Southern Impacts O&M Power Other Interest Income & Expense Deductions Traditional
Slide 9: Retail Sales Growth vs. Prior Year
Retail Sales Growth vs. Prior Year Quarter-to-date Year-to-date As Reported Weather Normal* As Reported Weather Normal* Residential 4.6% 1.2% -0.2% 0.7% Commercial 2.3% 0.7% 0.7% 0.7% Industrial 0.1% 0.2% 1.0% 1.1% Total Retail Sales 2.2% 0.7% 0.5% 0.8% • First time since 2004 with growth across all
Slide 10: 2015 Earnings Per Share: Q3 Estimate
2015 Earnings Per Share Q3 Estimate = $1.16 per share 10
Slide 11: Appendix
SOUTHERN PN COMPANY SOUTHERN COMPANY MM INVESTOR RELATIONS Appendix
Slide 12: 2015 – 2017 Projected Financing Plan
2015 – 2017 Projected Financing Plan ($ in millions) 2015 2016 2017 2015 - 2017 Issued Remaining Total Projected Projected Total Projected Financings Georgia DOE Loan $ 600 $ 400 $ 1,000 $ 450 $ 350 $ 1,800 Mississippi Bank Debt (1) $ 900 $ - $ 900 $ 900 $ - $ 1,800 Mississippi Securitization $ - $
Slide 13: Generation Portfolio Diversity
Generation Portfolio Diversity Capacity Factors Q2 YTD 2014 2015 2014 2015 Coal - PRB 64% 63% 68% 61% Coal - Non-PRB 43% 34% 44% 30% Gas - Combined Cycle 60% 62% 58% 66% Energy Mix Q2 YTD 2014 2015 2014 2015 Natural Gas 37% 43% 36% 45% Coal 42% 38% 43% 35% Nuclear 17% 15% 16% 16% Hydro/Other 4% 4% 5