SCANA Earnings: Here’s Why Shares are Up 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. Shares are up 0.76%.
SCANA Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.51% to $1.13 in the quarter versus EPS of $0.93 in the year-earlier quarter.
Revenue: Rose 18.43% to $1.31 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: SCANA Corp. reported adjusted EPS income of $1.13 per share. By that measure, the company beat the mean analyst estimate of $1.03. It beat the average revenue estimate of $1.22 billion.
Quoting Management: “The first quarter of 2013 was eventful as SCANA poured the first new nuclear concrete in America in over three decades,” said Jimmy Addison, executive vice president and chief financial officer. “Financially, margins were higher than last year due to continued customer growth as well as rate increases at South Carolina Electric & Gas Company and improved results in our Georgia businesses. Last year, we experienced one of the mildest winters on record, which negatively impacted the earnings of our Georgia retail gas business.”
Key Stats (on next page)…
Revenue increased 16.84% from $1.12 billion in the previous quarter. EPS increased 44.87% from $0.78 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.51 to a profit $0.50. For the current year, the average estimate has moved down from a profit of $3.35 to a profit of $3.33 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)