Southern Company (SO · NYSE)

Southern Company shares have fallen 12.2% over three months to $82.88, leaving the stock down 15.0% from its 52-week high with an RSI of 20, even as the company beat estimates in three of its last four quarters, including Q2 EPS of $1.13 versus $1.01 expected. Q2 net income of $1.17B reflected 30.4% year-over-year earnings growth on essentially flat revenue (TTM $30.18B), while free cash flow remained negative at -$293.0M as capex ($2.94B) exceeded operating cash flow ($2.65B). The balance sheet carries $77.09B in total debt at 5.4x EBITDA with a current ratio of 0.79. Separately, Georgia Power won approval for 1,137 MW of new solar purchase agreements through its CARES program, and Q3 results are scheduled for release November 5.