SCANA Corp Earnings Cheat Sheet: Profitable Quarter Accelerates Growth

S&P 500 (NYSE:SPY) component SCANA Corporation (NYSE:SCG) reported net income above Wall Street’s expectations for the third quarter. SCANA is engaged in the generation and sale of electricity, as well as in the purchase, sale and transportation of natural gas to its customers. It conducts other energy-related businesses and provides fiber optic communications in South Carolina.

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SCANA Earnings Cheat Sheet for the Third Quarter

Results: Net income for SCANA Corporation rose to $105 million (81 cents per share) vs. $101 million (79 cents per share) in the same quarter a year earlier. This marks a rise of 4% from the year earlier quarter.

Revenue: Rose 0.4% to $1.09 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: SCG beat the mean analyst estimate of 77 cents per share. Analysts were expecting revenue of $1.08 billion.

Quoting Management: “We are pleased that our basic earnings per share for the third quarter of 2011 were higher than last year and in line with our expectations,” said Jimmy Addison, senior vice president and chief financial officer. “In a challenging economy we continue to demonstrate growth in our customer base and discipline in our cost control.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 3.7% and in the first quarter, the figure rose 0.8%.

The company topped expectations last quarter after falling short of forecasts in the second quarter with net income of 43 cents versus a mean estimate of net income of 48 cents per share.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 6.5% to $1 billion from the year earlier quarter.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the fourth quarter is 84 cents per share, up from 80 cents ninety days ago. The average estimate for the fiscal year is $3.05 per share, down from $3.07 ninety days ago.

Competitors to Watch: Dominion Resources, Inc. (NYSE:D), CenterPoint Energy, Inc. (NYSE:CNP), OGE Energy Corp. (NYSE:OGE), Integrys Energy Group, Inc. (NYSE:TEG), Avista Corporation (NYSE:AVA), The Empire District Electric Co. (NYSE:EDE), Wisconsin Energy Corp. (NYSE:WEC), CMS Energy Corporation (NYSE:CMS), TECO Energy, Inc. (NYSE:TE), and Unitil Corporation (NYSE:UTL).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)