SCANA Earnings: Everything You Must Know Now
SCANA Corp. (NYSE:SCG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
SCANA Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.09% to $0.60 in the quarter versus EPS of $0.55 in the year-earlier quarter.
Revenue: Rose 11.89% to $1.02 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: SCANA Corp. reported adjusted EPS income of $0.60 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $931.33 million.
Quoting Management: “We are pleased with the second quarter results,” said Jimmy Addison, Executive Vice President and Chief Financial Officer. “Year to date, margins were higher driven by electric base rate increases and customer growth, as well as a return to normal weather in Georgia during the first quarter of 2013. Higher expenses related to our capital program, specifically depreciation, property taxes, interest, and dilution somewhat offset these increases. We are reaffirming our earnings guidance for the year and maintain our internal target of $3.35 basic earnings per share.”
Key Stats (on next page)…
Revenue decreased 22.5% from $1.31 billion in the previous quarter. EPS decreased 45.95% from $1.11 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.92 to a profit $0.93. For the current year, the average estimate is a profit of $3.35, which is the same with that ninety days ago.