CLAIM #53880 · Southern Company (SO) · 2022Q1 earnings call · Apr 28, 2022 · due Dec 31, 2022
“So consistent with our estimates we need to increase. We have plans to move people over to effectuate that increase.”
Tom Fanning · CEO
In context
“rally being able to get feel and then is the cost of those individuals? Tom Fanning: Yes. I think simply, Dan can fill in some blanks here. But Unit 4 remains on-track with our expectations. We are consistent with our expected timeframes and budgets, all good in that regard. I think we gave you the data that suggests that the 0.9% kind of average monthly increase in construction is consistent with a September timeframe and is, in advance of better than the 0.4% that we need to hit the year-end. So that's your three-to-six-month stuff. Importantly, as we said in the script, I just want to make sure you know, all of our production for Unit 4 is consistent with our expectations. We are moving people from 3 to 4. And so, we expect their productivity and their production to increase overtime. So consistent with our estimates we need to increase. We have plans to move people over to effectuate that increase. With respect to the inflation and pay, we frankly went over that here getting ready for this call. We believe we're still top decile pay for the Southeast, and we feel like most of that risk is behind us. Dan, do you want to add anything else? Dan Tucker: Yes. The only thing I'd add -- you hit on this briefly, but we do have a very detailed plan for transitioning, particularly the electric craft from Unit 3 to Unit 4 as we go through this process. And then as you'd expect us to do, we're certainly applying every lesson learned from Unit 3 to Unit 4, and that will also factor into our ability to increase productivity. Tom Fanning: One last point there. Attrition is at normal levels. So it's progressing as we expected. Julien Dumoulin-Smith: Excellent. Thank you, guys. And then just if you”
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SEC filings for SO ↗ · Claim quote is verbatim from the 2022Q1 earnings call.