By Atlanta Business Chronicle

Record-setting warm temperatures boosted Southern Co.â¿¿s second-quarter profit.

The Atlanta-based energy giant posted net income of $510.2 million and earnings of 62 cents a share, compared with net income of $478.6 million and earnings of 61 cents a share in the second quarter of 2009.

Second-quarter revenue jumped 8.3 percent to $4.21 billion.

Southern Co. (NYSE: SO) noted the Southeast had one of the warmest second quarters in more than a century. The economic recovery also contributed positively to earnings. And finally, industrial sales, which were up 13 percent for the second quarter, showed improvement in industrial activity in the Southeast.

In the second quarter, kilowatt-hour sales to retail customers in Southern Co.'s four-state service area increased 6.4 percent. Residential electricity sales rose 5.8 percent, while sales to commercial customers inched up 1.7 percent.

"We continue to see positive economic trends, particularly among our industrial and manufacturing customers," said Chairman, President and CEO David M. Ratcliffe, in an earnings statement. "Our businesses continued to perform well overall in the second quarter, giving us solid results and keeping the company on track to deliver on our financial and operational goals for the year."

On Tuesday, Ratcliffe announced he will retire Dec. 1 and his successor will be Thomas A. Fanning, currently the companyâ¿¿s chief operating officer.

Copyright 2010 American City Business Journals
Copyright 2010