Summary by Futu AI
Southern Company reported Q3 2024 net income of $1.5 billion ($1.40 per share), up 7.9% from $1.4 billion ($1.30 per share) in Q3 2023. Retail electric revenues increased 4.4% to $5.4 billion, driven by higher rates and pricing, particularly from the inclusion of Plant Vogtle Units 3 and 4 in retail rates. The results also benefited from an after-tax charge of $120 million related to Plant Vogtle construction in Q3 2023 that did not recur.Operating revenues rose to $7.3 billion from $7.0 billion, while operating income increased to $2.4 billion from $2.1 billion. The company saw higher non-fuel operations and maintenance expenses of $1.7 billion, up 16.7% year-over-year, primarily due to increased generation expenses associated with Plant Vogtle Unit 4 and higher transmission and distribution costs.Interest expense increased 11.6% to $692 million due to higher average borrowings and interest rates. The company's construction programs remained on track, with Georgia Power completing Plant Vogtle Unit 4 in April 2024. Southern Power continued construction of the Millers Branch solar facility, which will have a total generating capacity of 512 MW upon completion of all phases.
This strategy is often seen in tariff policies and trade negotiations.
First, he scared everyone quite a bit, and then he gave a little reward.Imagine you are bargaining in a vegetable market, and Trump's approach is to first raise a loudspeaker and shout: "This pile of cabbage must be sold to me for 100 yuan today!" When the vendor is stunned, he suddenly rubs his hands and says: "But seeing that you are not having an easy time, let's settle for 80 yuan~"
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