How Will Southern Stock React To Its Upcoming Earnings?
Southern (NYSE:SO) is scheduled to report its earnings on Thursday, November 5, 2026. The company has a market value of about $106.6 billion. Over the last twelve months it generated $30.2 billion in revenue and $7.3 billion in operating profit, with net income of $4.7 billion.
The reaction will turn on how the results and guidance land against expectations. Before the release, it helps to know how the stock has behaved after previous reports, and whether an early move has tended to carry on.
See the earnings reaction history of all stocks
Southern’s Historical Odds Of A Positive Post-Earnings Return
Some observations on one-day (1D) post-earnings returns, measured from the last close before each release:
- There are 19 earnings releases in the last five years, with 11 positive and 8 negative one-day (1D) returns. Positive 1D returns were seen 58% of the time.
- Over the last three years that share rises to 64%, across 11 releases.
- The median of the 11 positive 1D returns is 2.5%, and the median of the 8 negative ones is -1.0%.
- The largest one-day reactions were 4.8% and -3.3%.
The table below shows the 1D, 5-day (5D), and 21-day (21D) returns after each release, followed by summary statistics.
| Earnings Date | 1D | 5D | 21D |
|---|---|---|---|
| 7/30/2026 | -1.8% | -3.1% | -6.5% |
| 4/30/2026 | 3.4% | 0.0% | -0.7% |
| 2/19/2026 | 4.4% | 5.4% | 5.7% |
| 10/30/2025 | 1.7% | -2.2% | -1.8% |
| 7/31/2025 | -0.4% | -0.2% | -2.0% |
| 5/1/2025 | -0.5% | 0.2% | -1.2% |
| 2/20/2025 | 1.5% | 2.6% | 4.0% |
| 10/31/2024 | 1.9% | -2.2% | 0.6% |
| 8/1/2024 | 4.8% | 4.5% | 3.6% |
| 5/2/2024 | 1.1% | 4.2% | 8.5% |
| 2/15/2024 | -1.4% | 0.3% | 3.0% |
| 11/2/2023 | 2.5% | 0.2% | 5.6% |
| 8/3/2023 | -3.3% | -2.5% | -3.6% |
| 4/27/2023 | 1.3% | 1.0% | -2.9% |
| 2/16/2023 | -1.4% | -2.0% | 2.8% |
| 10/27/2022 | -0.7% | -1.3% | 3.0% |
| 7/28/2022 | 3.5% | 5.5% | 8.9% |
| 4/28/2022 | 2.9% | 1.5% | 3.4% |
| 2/17/2022 | -0.1% | -2.1% | 6.0% |
| Statistic | 1D | 5D | 21D |
|---|---|---|---|
| # Positive | 11 | 10 | 12 |
| # Negative | 8 | 8 | 7 |
| Median Positive | 2.5% | 2.1% | 3.8% |
| Median Negative | -1.0% | -2.1% | -2.0% |
| Max Positive | 4.8% | 5.5% | 8.9% |
| Max Negative | -3.3% | -3.1% | -6.5% |
Does The First Move Carry On?
Another approach is to wait for the initial reaction and ask whether it tends to continue. The table below shows the correlation between the 1D return and the return over the following 5 and 21 trading days, and between the 5D return and the following 21 trading days. A value near 1 means the first move has tended to continue; near -1, to reverse; near 0, no consistent pattern. None of the five-year correlations is strong enough to trade on: all are below 0.40 in absolute terms, so the early post-earnings move has not reliably predicted what followed. The three-year 5D versus 21D figure is higher at 0.65, but it rests on just 11 releases.
| History | 1D vs next 5D | 1D vs next 21D | 5D vs next 21D |
|---|---|---|---|
| 5 Years | -0.22 | -0.15 | 0.03 |
| 3 Years | -0.24 | -0.19 | 0.65 |
Is There Any Correlation With Peer Earnings?
NextEra Energy (NEE) and Entergy (ETR) usually report about 1 to 8 days before Southern, and have already reported this season. The table compares each peer’s one-day reaction to its own earnings with Southern’s one-day reaction to the report that followed. The correlations are NEE (0.36), ETR (0.41); the closer to 1, the more the peer’s reaction has foreshadowed Southern’s.
| SO Earnings Date | SO 1D | NEE 1D | ETR 1D |
|---|---|---|---|
| 7/30/2026 | -1.8% | -0.01% | -4.0% |
| 4/30/2026 | 3.4% | 6.9% | 1.3% |
| 2/19/2026 | 4.4% | n/a | 1.8% |
| 10/30/2025 | 1.7% | -2.9% | 0.5% |
| 7/31/2025 | -0.4% | -6.1% | 1.2% |
| 5/1/2025 | -0.5% | 0.9% | -1.8% |
| 2/20/2025 | 1.5% | n/a | 6.0% |
| 10/31/2024 | 1.9% | 1.5% | n/a |
| 8/1/2024 | 4.8% | 4.6% | n/a |
| 5/2/2024 | 1.1% | 1.4% | 2.9% |
| 11/2/2023 | 2.5% | 7.0% | 3.7% |
| 8/3/2023 | -3.3% | -0.1% | 0.2% |
| 4/27/2023 | 1.3% | -1.5% | -3.4% |
| 7/28/2022 | 3.5% | 1.7% | n/a |
| 4/28/2022 | 2.9% | -6.5% | 0.02% |
| Correlation | – | 0.36 | 0.41 |
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