Southern Company (NYSE: SO) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Southern Company's revenues will expand 2.8% and EPS will wither -1.4%.

The average estimate for revenue is $4.30 billion. On the bottom line, the average EPS estimate is $0.68.

Revenue details
Last quarter, Southern Company booked revenue of $3.90 billion. GAAP reported sales were 8.1% higher than the prior-year quarter's $3.60 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.49. GAAP EPS of $0.09 for Q1 were 79% lower than the prior-year quarter's $0.42 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 40.2%, 50 basis points better than the prior-year quarter. Operating margin was 8.3%, much worse than the prior-year quarter. Net margin was 2.1%, 810 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $17.19 billion. The average EPS estimate is $2.76.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,024 members out of 1,085 rating the stock outperform, and 61 members rating it underperform. Among 284 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 273 give Southern Company a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Southern Company is hold, with an average price target of $45.23.

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