Exhibit 99.01
 
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News
 
Media Contact:
Southern Company Media Relations
 
 
404-506-5333 or 1-866-506-5333
 
 
www.southerncompany.com
 
 
 
 
Investor Relations Contact:
 
 
Aaron Abramovitz
 
 
404-506-0780
 
 
apabramo@southernco.com
 
 
February 21, 2018

Southern Company reports fourth-quarter and full-year 2017 earnings

ATLANTA - Southern Company today reported fourth-quarter 2017 earnings of $496 million, or 49 cents per share, compared with earnings of $197 million, or 20 cents per share, in the fourth quarter of 2016. Southern Company also reported full-year 2017 earnings of $842 million, or 84 cents per share, compared with earnings of $2.45 billion, or $2.57 per share, in 2016.

Excluding the items described in the “Net Income - Excluding Items” table below, Southern Company earned $509 million, or 51 cents per share, during the fourth quarter of 2017, compared with $295 million, or 30 cents per share, during the fourth quarter of 2016. For the full-year 2017, excluding these items, Southern Company earned $3.02 billion, or $3.02 per share, compared with earnings of $2.76 billion, or $2.90 per share, in 2016.

Non-GAAP Financial Measures
Three Months Ended December
 
Year-to-Date December
Net Income - Excluding Items (in millions)
2017
2016
 
2017
2016
Net Income - As Reported
$496
 $197
 
$842
 $2,448
Estimated Loss on Kemper IGCC
211
206
 
3,366
428
  Tax Impact
(25)
(79)
 
(975)
(164)
Loss on Plant Scherer Unit 3
-
-
 
33
-
  Tax Impact
-
-
 
(13)
-
Acquisition and Integration Costs
16
12
 
35
120
  Tax Impact
10
(4)
 
12
(38)
Wholesale Gas Services
105
(15)
 
57
4
  Tax Impact
(20)
4
 
-
(4)
Earnings Guidance Comparability Items:
 
 
 
 
 
Equity Return Related to Kemper IGCC
    Schedule Extension
-
(22)
 
(47)
(29)
       Tax Impact
-
(4)
 
(9)
(5)
Tax Reform
(284)
-
 
(284)
-
Net Income - Excluding Items
$509
$295
 
$3,017
$2,760
         Average Shares Outstanding - (in millions)
1,007
986
 
1,000
951
Basic Earnings Per Share - Excluding Items
$0.51
$0.30
 
$3.02
$2.90
NOTE: For more information regarding these non-GAAP adjustments, see the footnotes accompanying the Financial Highlights page of the earnings package.



The following information was filed by Alabama Power Co (ALPVN) on Wednesday, February 21, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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