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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“if you look in the state of Georgia, where Georgia Power, recently, I think the end of November filed a revised IRP. And they're projecting 53 gigawatts of power demand between now and the early 2030s.”
Kinder Morgan cites Georgia Power's (Southern Company) projected 53 GW of power-demand growth as an example of the large gas-demand opportunity from utilities.
“we have a project in Alabama that is specifically focused on repowering a Alabama Power plant to coal.”
Williams is developing a project to convert an Alabama Power (Southern Company subsidiary) coal plant to natural gas, part of a broader coal-to-gas switching opportunity for Williams across its footprint.
“some of the larger announcements over the past year were in the manufacturing, automotive, aerospace and metals industry, with familiar names that include General Electric, US Steel, Duracell and Mercedes-Benz.”
Mercedes-Benz was named among automotive manufacturers expanding in Southern Company's Southeast service territories, adding to the utility's economic-development pipeline.
“some of the larger announcements over the past year were in the manufacturing, automotive, aerospace and metals industry, with familiar names that include General Electric, US Steel, Duracell and Mercedes-Benz.”
Duracell was named among manufacturers locating or expanding facilities in Southern Company's service territories, contributing to economic development and load growth.
“some of the larger announcements over the past year were in the manufacturing, automotive, aerospace and metals industry, with familiar names that include General Electric, US Steel, Duracell and Mercedes-Benz.”
US Steel was named among companies locating or expanding operations in Southern Company's service territories, part of the Southeast metals-industry expansion driving load growth.
“some of the larger announcements over the past year were in the manufacturing, automotive, aerospace and metals industry, with familiar names that include General Electric, US Steel, Duracell and Mercedes-Benz.”
General Electric was named among companies locating or expanding facilities in Southern Company's electric/gas service territories, adding load and economic-development activity.
“I was incredibly excited about the actions that the administration took with Westinghouse and Cameco and Brookfield in terms of that collaboration”
Southern's CEO praises the federal collaboration involving Westinghouse (its nuclear reactor supplier) as supportive of new nuclear build-out, a positive read-through for Westinghouse's reactor demand.
“I believe from your last call to this call I believe Moody's put the holding company on a negative outlook”
An analyst notes Moody's placed Southern's holding company on a negative outlook; management reaffirms its path toward a 17% FFO-to-debt target to defend ratings.
“As a reminder, so this is largely our investments with Kinder Morgan, we have another investment that we co-own in North Georgia and -- as you can imagine, they are tied to a lot of the same things driving our utility investment.”
Southern Company Gas holds pipeline investments co-owned with Kinder Morgan in North Georgia; potential FERC-regulated expansion is tied to the same large-load and data-center growth driving Southern's own utility capex, a positive read-through for Kinder Morgan's pipeline segment.
“primarily driven by the Hyundai Mega plant in Southeast Georgia, beginning production activities several months ago”
Hyundai's new mega plant in Southeast Georgia beginning production was a primary driver of the 4% year-over-year growth in Southern Company's transportation-sector electricity sales this quarter.
“We already have 50% interest in the Southern Natural pipeline that kind of overlays our Southeast service territory that's our largest midstream investment, Kinder Morgan operates that on behalf of our partnership”
Southern Company holds a 50% interest in the Southern Natural Gas pipeline, its largest midstream investment, which is operated by Kinder Morgan on behalf of the partnership; upside capex opportunities are tied to expansion of this and other Kinder Morgan-operated pipelines.
“there's been a lot of talk about Microsoft and others that you're dealing with directly in your service territory”
Analyst references Microsoft as one of the large hyperscaler data-center customers Southern Company deals with directly, part of the diverse large-load pipeline management describes as broad-based rather than concentrated in one or two names.
“there was a meta project that was announced mid last year, I think, and that was a couple of hundred megawatts”
Southern Company cites a Meta data center project in Alabama (roughly a couple hundred megawatts) as part of the broader hyperscaler-driven demand growth across its footprint.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Carly Davenport | Goldman Sachs | 12 (0%) |
| Julien Dumoulin-Smith | Jefferies | 12 (8%) |
| Nick Campanella | Barclays | 9 (0%) |
| Andy Weisel | Scotiabank | 8 (25%) |
| Jeremy Tonet | JPMorgan | 8 (0%) |
| Steve Fleishman | Wolfe Research | 8 (0%) |
| Paul Fremont | Ladenburg Thalmann | 8 (0%) |
| Dave Arcaro | Morgan Stanley | 7 (0%) |
| Tony Crowdell | Mizuho Securities | 5 (20%) |
| Travis Miller | Morningstar | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 12 (8%) |
| Goldman Sachs | 1 | 12 (0%) |
| Barclays | 1 | 9 (0%) |
| Wolfe Research | 1 |
| 8 (0%) |
| JPMorgan | 1 | 8 (0%) |
| Ladenburg Thalmann | 1 | 8 (0%) |
| Scotiabank | 1 | 8 (25%) |
| Morgan Stanley | 1 | 7 (0%) |
Southern Company closed FY2025 at the top of its guidance range with adjusted EPS of $4.30 and upgraded its long-term growth outlook from 5-7% to approximately 7-8%, introducing multi-year guidance with FY2026 at $4.50-$4.60, FY2027 at $4.85-$4.95, and FY2028 at $5.25-$5.45. The capital plan expanded again to $81 billion as the large load pipeline grew to over 75 gigawatts, and Southern Power recontracting showed 2-3x upside potential. Retail electricity sales grew 1.7% for the year, the strongest in recent history, while credit metrics remained below the 17% FFO-to-debt target.
Demand | Capex Investment | Guidance Reliability | Regulation Policy | Revenue Growth | Capital Allocation | Competitive Dynamics | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 5 | 4 | 3 | 3 | 4 | 2 | 2 |
| 2025Q1 | 5 | 3 | 3 | 4 | 3 | 2 | 1 | 1 |
| 2025Q2 | 5 | 4 | 6 | 1 | 5 | 3 | 3 | 4 |
| 2025Q3 | 6 | 3 | 4 | 5 | 3 | 3 | 3 | 1 |
| 2025Q4 | 9 | 7 | 5 | 4 | 3 | 2 | 5 | 1 |
| 2026Q1 | 6 | 6 | 5 | 4 | 2 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 4 | 5 | 5 | 6 | 9 | 6 |
| Capex Investment | 5 | 3 | 4 | 3 | 7 | 6 |
| Guidance Reliability | 4 | 3 | 6 | 4 | 5 | |
| Regulation Policy | 3 | 4 | 1 | 5 | 4 | 5 |
| Revenue Growth | 3 | 3 | 5 | 3 | 3 | 4 |
| Capital Allocation | 4 | 2 | 3 | 3 | 2 | 2 |
| Competitive Dynamics | 2 | 1 | 3 | 3 | 5 | 2 |
| Supply Chain | 2 | 1 | 4 | 1 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
SO Southern Company | 6 | +8.0% | |
| AEE Ameren | 7 | +3.8% | |
| AEP American Electric Power | 5 | +6.8% | |
| CMS CMS Energy | 6 | +11.6% | |
| CNP CenterPoint Energy | 5 | +1.9% | |
| D Dominion Energy | 7 | +23.1% | |
| DTE DTE Energy | 7 | +15.8% | |
| DUK Duke Energy | 8 | +11.3% | |
| ED Consolidated Edison | 6 | +6.2% | |
| EIX Edison International | 6 | +7.7% | |
| ES Eversource Energy | 6 | +9.4% | |
| ETR Entergy | 8 | +12.0% | |
| EVRG Evergy | 7 | +5.5% | |
| EXC Exelon | 6 | +7.9% | |
| FE FirstEnergy | 7 | +11.6% | |
| LNT Alliant Energy | 5 | +5.0% | |
| NEE NextEra Energy | 6 | +7.3% | |
| PCG PG&E Corporation | 8 | +15.0% | |
| PEG Public Service Enterprise Group | 9 | +19.4% | |
| PNW Pinnacle West | 8 | +11.4% | |
| PPL PPL Corporation | 7 | +10.8% | |
| WEC WEC Energy Group | 7 | +9.0% | |
| XEL Xcel Energy | 6 | +2.9% |