Power supplier Southern Company SO reported fourth-quarter 2020 earnings per share (excluding certain one-time items) of 47 cents, beating the Zacks Consensus Estimate of 43 cents and above the year-ago adjusted profit of 27 cents. The outperformance primarily stemmed from successful cost containment measures as well as positive effects of rates, usage and pricing changes.The utility reported revenues of $5.1 billion, which beat the Zacks Consensus Estimate by a marginal 0.9% and was 4.1% higher than fourth-quarter 2019 sales.The firm is guiding for earnings per share of $3.25-$3.35 this year and 84 cents for the March quarter. Further, Southern Company management raised its long-term EPS growth rate projection to 5-7% (from 4-6% before) based on 2024 adjusted EPS of $4-$4.30.Southern Company The Price, Consensus and EPS Surprise Southern Company The price-consensus-eps-surprise-chart | Southern Company The Quote Vogtle UpdatesPer Southern Company’s latest earnings presentation, it continues to progress toward completing the Units 3 and 4 of the Vogtle nuclear project by the November 2021 and November 2022 regulatory approved in-service dates. At the same time, the firm increased the share of its Georgia Power subsidiary in capital costs for the units by $176 million to $8.7 billion, primarily due to the impacts of the pandemic.Overall Sales BreakupSouthern Company’s wholesale power sales decreased 3.7%. There was also a fall in retail electricity demand.Consequently, there was a downward movement in overall electricity sales and usage. In fact, total electricity sales during the fourth quarter were down 1.9% from the same period last year.Southern Company’s total retail sales were down 1.3%, with commercial and industrial sales going down by 4.4% and 1.4%, respectively. But on a bullish note, residential sales rose 2.3%.Expenses SummaryThe power supplier’s operations and maintenance cost fell 5.7% year-over-year to $1.6 billion but the utility’s total operating expense for the period — at $4.4 billion — was up 3.9% from the prior-year level.Zacks Rank & Stock PicksSouthern Company — one of the largest generators of electricity in the nation along with the likes of Exelon Corporation EXC and Duke Energy Corporation DUK — carries a Zacks Rank #3 (Hold).Meanwhile, investors interested in the utility space could look at a better option like ONEOK, Inc. OKE that carries a Zacks Rank #1 (Strong Buy). has an expected earnings growth rate of 114.38% for the current year.You can see the complete list of today’s Zacks #1 Rank stocks here.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern Company The (SO): Free Stock Analysis Report ONEOK, Inc. (OKE): Free Stock Analysis Report Exelon Corporation (EXC): Free Stock Analysis Report Duke Energy Corporation (DUK): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research