Southern Company (SO) has reported a 26.50 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $208 million in the quarter, compared with $283 million for the same period last year. Revenue during the quarter surged 45.21 percent to $5,181 million from $3,568 million in the previous year period. Total expenses were 88.67 percent of quarterly revenues, up from 83.80 percent for the same period last year. That has resulted in a contraction of 487 basis points in operating margin to 11.33 percent.
Operating income for the quarter was $587 million, compared with $578 million in the previous year period.
"2016 was a year of tremendous accomplishment for Southern Company," said chairman, president and chief executive officer Thomas A. Fanning. "The acquisitions of Southern Company Gas, PowerSecure and a 50 percent equity interest in Southern Natural Gas have served to lengthen and strengthen our low-risk, customer-focused business model and are expected to further support our ability to deliver regular, predictable and sustainable long-term earnings and dividend growth."
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