SO · Earnings call · 2026Q3T · Full report

Geographic Market Commentary

SOUTHERN CO · 2026-11-05 · Importance 20 · Surprise 24

Management described broad-based economic development across Alabama, Georgia and Mississippi, with the Southeast on track to double its prior annual record of announced capital investment. Third-quarter announcements represented nearly $25 billion of investment and more than 5,000 jobs, including projects in manufacturing, automotive and data centers involving Airbus, Gulf Ship, OpenAI, Pirelli and Walmart. Recent announcements included Mitsubishi Power expanding its Savannah, Georgia gas-turbine manufacturing investment and Audi planning a $4 billion production site in Peach County, Georgia. Together, the announced projects brought future business investment in Southern Company’s Southeast service territory above $45 billion; management also noted that large-load activity is migrating west within its territory, including toward Mississippi.

Key facts

• Audi announced its first U.S.-based production site in Peach County, Georgia, with a planned $4 billion investment and 4,500 permanent jobs.
• The Southeast was on track to double its prior annual record of announced capital investment.
• Third-quarter announcements in the Southeast included nearly $25 billion of investment and more than 5,000 new jobs.
• Announced future business investment in Southern Company's Southeast service territory reached over $45 billion, the largest amount seen in any one year.