ATLANTA — Southern Co. (SO) on Wednesday reported fourth-quarter profit of $317 million.
On a per-share basis, the Atlanta-based company said it had net income of 33 cents. Earnings, adjusted for non-recurring costs, came to 38 cents per share.
The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The power company posted revenue of $4.05 billion in the period, topping Street forecasts. Analysts expected $3.72 billion, according to Zacks.
Southern Co. shares have increased slightly more than 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has increased 23 percent in the last 12 months.