Southern Company's (SO) Q3 earnings call is expected to provide clarity on election outcomes in Georgia and Alabama, but the company faces growth opportunities regardless of the results, BofA Securities analysts said in a Tuesday note.
The company is scheduled to report Q3 financial results on Nov. 5.
Analysts project Southern's Q3 adjusted earnings per share of $1.65, slightly below a FactSet estimate of $1.67.
BofA said that the company's sales and usage growth, real-time pricing, higher rates, and stronger energy margins are expected to significantly offset higher operations and maintenance costs, depreciation, interest expense, and equity dilution.
The company is also expected to reaffirm its current capital spending, financing, and growth outlook, analysts said.
BofA reiterated its neutral rating on the stock and adjusted its price target to $92 per share from $100 prior.
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