Southern Company (the) · NYSE:SO
Southern Company (the) — Q2 2014 Earnings Presentation
13 slides from Southern Company (the)'s earnings presentation, Jul 30, 2014
Slide 1: Second Quarter 2014 Earnings Conference Call
Second Quarter 2014 Earnings Conference Call July 30, 2014
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: Vogtle Construction Site as of July 24th, 2014
Vogtle Construction Site as of July 24th, 2014 Cooling Towers Unit 3 Unit 4 Module Assembly Building Unit 3 Containment Vessel Unit 4 Nuclear Island Turbine Island Heavy Lift Derrick Unit 3 CA03 Nuclear Island Unit 3 Condenser Annex Building Assembly Turbine Island 3
Slide 4: Vogtle Construction Update
Vogtle Construction Update Unit 3 Unit 4 Progress Progress Initiated CA01 module assembly Set bottom head Nuclear island wall placements Nuclear island wall placements Condenser installation completed Condenser assembly Initiated annex building construction Initiated CA20 module fabr
Slide 5: Vogtle Units 3&4 Nuclear Island Activity
Vogtle Units 3&4 Nuclear Island Activity Unit 3 Unit 4 Current CA04 View CB65 Pedestal Concrete Formwork under CVBH Concrete Placed Unit 3 Unit 4 Lower Ring CA05 CA05 CA04 Near Term CB65 Formwork Concrete Placed 5
Slide 6: Kemper IGCC Update
Kemper IGCC Update Progress “Pipe-tight” – 900,000 linear feet installed & ready for testing Completed pneumatic pressure tests for both gasifiers Water & wastewater systems ready Upcoming • Combined Cycle in-service • First gasifier fire expected late 3rd quarter or early 4th quarter • First
Slide 7: Southern Power Project – Macho Springs
Southern Power Project – Macho Springs Location: Luna County, New Mexico Capacity: 50 MW* • Acquired from First Solar in May • 20-Year PPA with El Paso Electric Southern Power, partnered with Turner Renewable Energy, now has a solar portfolio of 7 projects totaling 291 MWs *Represents 100% Ownership
Slide 8: Q2 2014 Earnings Results
Q2 2014 Earnings Results Q2 YTD Earnings Per Share $0.68 $1.08 Impact of increase in Kemper cost estimate - $0.26 Earnings Per Share x-items $0.68 $1.34 8
Slide 9: Q2 2014 vs. Q2 2013 Adjusted EPS Drivers
Q2 2014 vs. Q2 2013 Adjusted EPS Drivers 1¢ -5¢ 3¢ Other Operating Revenues 4¢ Weather -2¢ 1¢ -2¢ Non-fuel 2¢ O&M -1¢ Interest $0.68 Expense 1¢ D&A Shares $0.66 Other Other Taxes Other Revenue Income & Economic Effects Deductions Growth Traditional Operating Companies 4¢ Q2 2013 Q2 2014 Note: Exclud
Slide 10: Retail Sales
Retail Sales Q2 YTD As Reported Weather Normal As Reported Weather Normal Residential 2.0% -0.6% 8.5% 0.3% Commercial 1.3% 0.0% 2.4% -0.1% Industrial 3.0% 3.0% 2.9% 2.9% Total Retail 2.1% 0.9% 4.5% 1.1% 13 Months of Continued Industrial Sales Growth • 10 largest industrial segments all Industrial Sa
Slide 11: 2014 Earnings Per Share: Q3 Estimate = $1.06 per share
2014 Earnings Per Share Q3 Estimate = $1.06 per share 11
Slide 12: Appendix
Appendix 12
Slide 13: Generation Portfolio Diversity
Generation Portfolio Diversity Capacity Factors Q2 YTD 2013 2014 2013 2014 Coal - PRB 75% 64% 74% 68% Coal - Non-PRB 30% 43% 30% 44% Gas - Combined Cycle 60% 60% 66% 58% Energy Mix Q2 YTD 2013 2014 2013 2014 Natural Gas 39% 37% 43% 36% Coal 39% 42% 36% 43% Nuclear 16% 17% 16% 16% Hydro/Other 5% 3% 5