Southern (SO) Revenue & Revenue Breakdown

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Southern Revenue Highlights

Latest Revenue (Y)

$29.55B

Latest Revenue (Q)

$7.82B

Main Segment (Y)

Southern Company Gas

Southern Revenue by Period

Southern Revenue by Year

Date	Revenue	Change
2025-12-31	$29.55B	10.59%
2024-12-31	$26.72B	5.83%
2023-12-31	$25.25B	-13.75%
2022-12-31	$29.28B	26.68%
2021-12-31	$23.11B	13.44%
2020-12-31	$20.38B	-4.87%
2019-12-31	$21.42B	-8.84%
2018-12-31	$23.50B	2.01%
2017-12-31	$23.03B	15.76%
2016-12-31	$19.90B	13.76%
2015-12-31	$17.49B	-5.30%
2014-12-31	$18.47B	8.08%
2013-12-31	$17.09B	3.33%
2012-12-31	$16.54B	-6.34%
2011-12-31	$17.66B	1.15%
2010-12-31	$17.46B	10.88%
2009-12-31	$15.74B	-8.08%
2008-12-31	$17.13B	11.55%
2007-12-31	$15.35B	6.94%
2006-12-31	$14.36B	5.92%
2005-12-31	$13.55B	15.56%
2004-12-31	$11.73B	4.85%
2003-12-31	$11.19B	6.39%
2002-12-31	$10.51B	3.54%
2001-12-31	$10.15B	0.88%
2000-12-31	$10.07B	8.04%
1999-12-31	$9.32B	-1.92%
1998-12-31	$9.50B	-24.68%
1997-12-31	$12.61B	21.75%
1996-12-31	$10.36B	12.83%
1995-12-31	$9.18B	10.64%
1994-12-31	$8.30B	-2.26%
1993-12-31	$8.49B	-

Southern generated $29.55B in revenue during NA 2025, up 10.59% compared to the previous quarter, and up 145.05% compared to the same period a year ago.

Southern Revenue by Quarter

Date	Revenue	Change
2025-09-30	$7.82B	12.19%
2025-06-30	$6.97B	-10.32%
2025-03-31	$7.78B	22.61%
2024-12-31	$6.34B	-12.83%
2024-09-30	$7.27B	12.55%
2024-06-30	$6.46B	-2.75%
2024-03-31	$6.65B	9.94%
2023-12-31	$6.04B	-13.40%
2023-09-30	$6.98B	21.43%
2023-06-30	$5.75B	-11.30%
2023-03-31	$6.48B	-8.05%
2022-12-31	$7.05B	-15.89%
2022-09-30	$8.38B	16.26%
2022-06-30	$7.21B	8.39%
2022-03-31	$6.65B	15.28%
2021-12-31	$5.77B	-7.55%
2021-09-30	$6.24B	20.01%
2021-06-30	$5.20B	-12.05%
2021-03-31	$5.91B	15.50%
2020-12-31	$5.12B	-8.95%
2020-09-30	$5.62B	21.65%
2020-06-30	$4.62B	-7.93%
2020-03-31	$5.02B	2.12%
2019-12-31	$4.91B	-18.03%
2019-09-30	$6.00B	17.60%
2019-06-30	$5.10B	-5.80%
2019-03-31	$5.41B	1.41%
2018-12-31	$5.34B	-13.35%
2018-09-30	$6.16B	9.45%
2018-06-30	$5.63B	-11.69%
2018-03-31	$6.37B	13.20%
2017-12-31	$5.63B	-9.22%
2017-09-30	$6.20B	14.20%
2017-06-30	$5.43B	-5.91%
2017-03-31	$5.77B	11.39%
2016-12-31	$5.18B	-17.29%
2016-09-30	$6.26B	40.67%
2016-06-30	$4.45B	12.31%
2016-03-31	$3.96B	11.13%
2015-12-31	$3.57B	-33.94%
2015-09-30	$5.40B	24.53%
2015-06-30	$4.34B	3.68%
2015-03-31	$4.18B	4.13%
2014-12-31	$4.02B	-24.76%
2014-09-30	$5.34B	19.52%
2014-06-30	$4.47B	-3.81%
2014-03-31	$4.64B	18.26%
2013-12-31	$3.93B	-21.73%
2013-09-30	$5.02B	18.16%
2013-06-30	$4.25B	8.96%
2013-03-31	$3.90B	5.24%
2012-12-31	$3.70B	-26.66%
2012-09-30	$5.05B	20.76%
2012-06-30	$4.18B	16.01%
2012-03-31	$3.60B	-2.49%
2011-12-31	$3.70B	-31.91%
2011-09-30	$5.43B	20.06%
2011-06-30	$4.52B	12.69%
2011-03-31	$4.01B	6.38%
2010-12-31	$3.77B	-29.11%
2010-09-30	$5.32B	26.43%
2010-06-30	$4.21B	1.22%
2010-03-31	$4.16B	18.44%
2009-12-31	$3.51B	-25.02%
2009-09-30	$4.68B	20.50%
2009-06-30	$3.89B	5.97%
2009-03-31	$3.67B	-3.58%
2008-12-31	$3.80B	-29.93%
2008-09-30	$5.43B	28.74%
2008-06-30	$4.22B	14.45%
2008-03-31	$3.68B	10.25%
2007-12-31	$3.34B	-

Southern generated $7.82B in revenue during Q3 2025, up 12.19% compared to the previous quarter, and up 121.04% compared to the same period a year ago.

Southern Revenue Breakdown

Southern Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 25	Dec 24	Dec 22	Dec 21	Dec 20
Gas Distribution Operations	$4.43B	$3.90B	$5.27B	-	-
Gas Marketing Services	$582.00M	$516.00M	$638.00M	-	-
Gas Pipeline Investments	$32.00M	$32.00M	$32.00M	-	-
Southern Company Gas	$5.04B	$4.46B	$5.96B	-	-
Southern Power	-	-	$3.37B	-	-
Electric Utilities	-	-	$22.87B	-	-
Wholesale Electric - PPA Capacity Revenues	-	-	$596.00M	$493.00M	-
Wholesale Electric - PPA Energy Revenues	-	-	$2.27B	$1.12B	-
Wholesale Electric Revenues	-	-	$3.12B	$1.85B	-
Wholesale, Affiliates	-	-	$460.00M	$188.00M	$364.00M
Corporate and Other	-	-	$55.00M	-	-
Other Revenue Sources	-	-	$3.34B	$3.35B	-
Natural Gas Distribution	-	-	$5.22B	$3.63B	$2.89B
Product and Service, Other	-	-	$732.00M	$708.00M	-
Retail	-	-	$18.20B	$14.85B	-
Wholesale, Non-Affiliates	-	-	$2.46B	$2.46B	-
Natural Gas	-	-	$5.96B	-	-
Other Electric Revenue	-	-	$747.00M	-	-
Natural Gas Distribution - Commercial	-	-	$763.00M	$470.00M	$340.00M
Natural Gas Distribution - Industrial	-	-	$84.00M	$49.00M	$30.00M
Natural Gas Distribution - Other	-	-	$342.00M	$269.00M	$209.00M
Natural Gas Distribution - Residential	-	-	$2.84B	$1.80B	$1.34B
Natural Gas Distribution - Transportation	-	-	$1.19B	$1.04B	$971.00M
Other Natural Gas - Gas Marketing Services	-	-	$636.00M	$464.00M	$391.00M
Other Natural Gas - Other Natural Gas Revenues	-	-	$51.00M	$36.00M	$33.00M
Other Natural Gas	-	-	$687.00M	$2.67B	$2.15B
Other Revenues	-	-	$1.08B	$1.07B	-
Retail Electric - Commercial	-	-	$5.37B	$4.88B	-
Retail Electric - Industrial	-	-	$3.76B	$3.07B	-
Retail Electric - Other	-	-	$102.00M	$93.00M	-
Retail Electric - Residential	-	-	$6.60B	$6.21B	-
Retail Electric	-	-	$15.84B	$14.24B	-
Wholesale Electric - Non-PPA Revenues	-	-	$250.00M	$236.00M	-
Other Natural Gas - Wholesale Gas Services	-	-	-	$2.17B	$1.73B
Other Adjustments	-	-	-	$-3.70B	$-4.49B
Natural Gas, US Regulated	-	-	-	$4.38B	-
Alternative Energy	-	-	-	$11.00M	$3.00M

Southern's latest annual revenue breakdown by segment (product or service), as of Dec 25: Southern Company Gas (50.01%), Gas Distribution Operations (43.90%), Gas Marketing Services (5.77%), and Gas Pipeline Investments (0.32%).

Quarterly Revenue by Product

Product/Service	Dec 25	Jun 25	Dec 24	Sep 24	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Sep 19	Jun 19
Southern Company Gas	$4.07B	$979.00M	$2.75B	$852.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Southern Power	-	$546.00M	$525.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Electric Utilities	-	$5.80B	$557.00M	$4.76B	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wholesale Electric - Non-PPA Revenues	-	-	-	$67.00M	$68.00M	$55.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wholesale Electric - PPA Capacity Revenues	-	-	-	$125.00M	$153.00M	$118.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wholesale Electric - PPA Energy Revenues	-	-	-	$222.00M	$535.00M	$340.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Natural Gas Distribution - Other	-	-	-	$45.00M	$51.00M	$117.00M	$98.00M	$49.00M	$67.00M	$129.00M	$82.00M	$31.00M	$59.00M	$97.00M	$30.00M	$35.00M	$49.00M	$97.00M	$34.00M	$50.00M
Natural Gas Distribution - Residential	-	-	-	$212.00M	$330.00M	$896.00M	$1.02B	$331.00M	$474.00M	$1.02B	$656.00M	$218.00M	$311.00M	$614.00M	$432.00M	$170.00M	$239.00M	$496.00M	$162.00M	$229.00M
Retail Electric - Industrial	-	-	-	-	$850.00M	$768.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retail Electric - Commercial	-	-	-	-	$1.17B	$1.15B	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Revenues	-	-	-	$9.00M	$267.00M	$283.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Natural Gas	-	-	-	$57.00M	$81.00M	$242.00M	$229.00M	$99.00M	$100.00M	$259.00M	$170.00M	$56.00M	$651.00M	$1.79B	$703.00M	$476.00M	$406.00M	$566.00M	-	-
Other Natural Gas - Other Natural Gas Revenues	-	-	-	$6.00M	$8.00M	$11.00M	$10.00M	$15.00M	$10.00M	$16.00M	$9.00M	$11.00M	$10.00M	$7.00M	$11.00M	$7.00M	$8.00M	$7.00M	-	-
Other Natural Gas - Gas Marketing Services	-	-	-	$51.00M	$73.00M	$231.00M	$219.00M	$84.00M	$90.00M	$243.00M	$161.00M	$45.00M	$63.00M	$194.00M	$133.00M	$38.00M	$57.00M	$163.00M	-	-
Natural Gas Distribution	-	-	-	$610.00M	$753.00M	$1.59B	$1.73B	$744.00M	$963.00M	$1.78B	$1.19B	$549.00M	$698.00M	$1.19B	$830.00M	$474.00M	$585.00M	$999.00M	$445.00M	$563.00M
Natural Gas Distribution - Industrial	-	-	-	$4.00M	$6.00M	$23.00M	$24.00M	$12.00M	$16.00M	$32.00M	$20.00M	$6.00M	$8.00M	$16.00M	$9.00M	$4.00M	$5.00M	$12.00M	$3.00M	$5.00M
Retail Electric - Other	-	-	-	-	$23.00M	$23.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retail Electric - Residential	-	-	-	-	$1.32B	$1.30B	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retail Electric	-	-	-	-	$3.36B	$3.24B	$251.00M	$215.00M	-	-	-	-	-	-	-	-	-	-	-	-
Natural Gas Distribution - Commercial	-	-	-	$55.00M	$82.00M	$232.00M	$270.00M	$93.00M	$130.00M	$270.00M	$172.00M	$55.00M	$73.00M	$170.00M	$111.00M	$41.00M	$58.00M	$130.00M	$42.00M	$65.00M
Other Revenue Sources	-	-	-	$177.00M	$705.00M	$370.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Natural Gas Distribution - Transportation	-	-	-	$294.00M	$284.00M	$319.00M	$314.00M	$259.00M	$276.00M	$337.00M	$263.00M	$239.00M	$247.00M	$288.00M	$248.00M	$224.00M	$234.00M	$264.00M	$204.00M	$213.00M
Natural Gas, US Regulated	-	-	-	-	$852.00M	$1.88B	$858.00M	$1.08B	$2.06B	$1.39B	$498.00M	-	-	-	-	-	-	-	-	-
Wholesale Electric	-	-	-	-	$47.00M	$31.00M	$843.00M	$56.00M	$64.00M	$66.00M	-	-	-	-	-	-	-	-	-	-
Gas Distribution Operations	-	-	-	-	$764.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Wholesale, Non-Affiliates	-	-	-	-	$393.00M	$362.00M	$540.00M	$835.00M	$658.00M	$426.00M	$633.00M	$503.00M	$373.00M	$355.00M	$418.00M	$343.00M	$286.00M	$455.00M	$390.00M	-
Gas Marketing Services	-	-	-	-	$75.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gas Pipeline Investments	-	-	-	-	$8.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retail	-	-	-	-	$227.00M	$236.00M	$3.83B	$250.00M	$252.00M	$217.00M	$3.36B	$248.00M	$219.00M	$204.00M	$232.00M	$199.00M	$199.00M	$251.00M	$215.00M	-
Wholesale, Affiliates	-	-	-	-	$18.00M	$75.00M	$124.00M	$187.00M	$107.00M	$42.00M	$68.00M	$62.00M	$25.00M	$33.00M	$85.00M	$36.00M	$25.00M	$86.00M	$116.00M	$117.00M
Corporate and Other	-	-	-	-	$9.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Natural Gas	-	-	-	-	-	-	$1.96B	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Electric Revenue	-	-	-	-	-	-	$193.00M	-	-	-	-	-	-	-	-	-	-	-	-	-
Product and Service, Other	-	-	-	-	-	-	$213.00M	$195.00M	-	-	-	-	-	-	-	-	-	-	-	-
Wholesale Electric Revenues	-	-	-	-	-	-	$756.00M	$513.00M	-	-	-	-	-	-	-	-	-	-	-	-
Alternative Energy	-	-	-	-	-	-	-	$-1.00M	$2.00M	-	$8.00M	$-1.00M	$2.00M	$2.00M	$-3.00M	$-1.00M	$-2.00M	$9.00M	-	$1.00M
Other Adjustments	-	-	-	-	-	-	-	-	-	-	-	-	$-1.40B	$-2.30B	$-1.37B	$-1.10B	$-873.00M	$-1.14B	-	-
Other Natural Gas - Wholesale Gas Services	-	-	-	-	-	-	-	-	-	-	-	-	$578.00M	$1.59B	$559.00M	$431.00M	$341.00M	$396.00M	-	-
PPA Capacity	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$131.00M	$125.00M
Non-PPA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$101.00M	$91.00M
Alternative Revenue Programs	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.00M
Wholesale Gas Services	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$-4.00M	$48.00M
PPA Energy	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$339.00M	$291.00M

Southern's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Southern Company Gas (100.00%).

Southern Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
DUK	Duke Energy	$30.36B	$8.54B
SO	Southern	$29.55B	$7.82B
NEE	NextEra Energy	$27.48B	$7.97B
CEG	Constellation Energy	$25.53B	$6.57B
EXC	Exelon	$24.26B	$6.71B
AEP	American Electric Power	$21.88B	$6.01T
NGG	National Grid	$19.85B	$11.36B
D	Dominion Energy	$16.51B	$4.53B
XEL	Xcel Energy	$14.67B	$3.64B
ETR	Entergy	$12.95B	$3.81B

SO Revenue FAQ

What is Southern’s yearly revenue?

Southern's yearly revenue for 2025 was $29.55B, representing an increase of 10.59% compared to 2024. The company's yearly revenue for 2024 was $26.72B, representing an increase of 5.83% compared to 2023. SO's yearly revenue for 2023 was $25.25B, representing a decrease of -13.75% compared to 2022.

What is Southern’s quarterly revenue?

Southern's quarterly revenue for Q3 2025 was $7.82B, a 12.19% increase from the previous quarter (Q2 2025), and a 7.55% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $6.97B, a -10.32% decrease from the previous quarter (Q1 2025), and a 7.89% increase year-over-year (Q2 2024). SO's quarterly revenue for Q1 2025 was $7.78B, a 22.61% increase from the previous quarter (Q4 2024), and a 16.99% increase year-over-year (Q1 2024).

What is Southern’s revenue growth rate?

Southern's revenue growth rate for the last 3 years (2023-2025) was 17.03%, and for the last 5 years (2021-2025) was 27.86%.

What are Southern’s revenue streams?

Southern's revenue streams in c 25 are Gas Distribution Operations, Gas Marketing Services, Gas Pipeline Investments, and Southern Company Gas. Gas Distribution Operations generated $4.43B in revenue, accounting 43.90% of the company's total revenue, up 13.57% year-over-year. Gas Marketing Services generated $582M in revenue, accounting 5.77% of the company's total revenue, up 12.79% year-over-year. Gas Pipeline Investments generated $32M in revenue, accounting 0.32% of the company's total revenue Southern Company Gas generated $5.04B in revenue, accounting 50.01% of the company's total revenue, up 13.20% year-over-year.

What is Southern’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Southern was Southern Company Gas. This segment made a revenue of $5.04B, representing 50.01% of the company's total revenue.