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SCANA records growth in Q2'17 earnings, beats consensus estimate

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SCANA records growth in Q2'17 earnings, beats consensus estimate

SCANA Corp. posted second-quarter 2017 earnings of $121 million, or 85 cents per share, compared with $105 million, or 74 cents per share, for the corresponding quarter of 2016.

The results beat with the S&P Capital IQ consensus normalized EPS estimate of 73 cents.

Second-quarter 2017 operating revenues were up year over year to $1 billion, compared to $905 million in the comparable quarter of 2016, while operating income was up $28 million to $249 million, compared to $221 million in the year-ago quarter, according to an Aug. 3 news release.

South Carolina Electric & Gas Co.'s second-quarter 2017 earnings were $126 million, or 88 cents per share, compared to $113 million or 79 cents per share in the second quarter of 2016. Higher electric and gas margins and lower operations and maintenance expenses were partially offset by a rise in the utility's capital program including interest expense, depreciation and property taxes.

Public Service Co. of North Carolina Inc., which does business as PSNC Energy, posted earnings of $2 million, or 1 cent per share, compared to break-even results for the second quarter of 2016.

Scana Energy Marketing Inc. posted second quarter 2017 earnings of $1 million, or 1 cent per share, compared to break-even results a year ago. The company said its books were positively impacted by higher gas margins during the 2017 quarter.

SCANA reaffirmed its 2017 GAAP-adjusted weather-normalized EPS guidance of $4.15 to $4.35, with an internal target of $4.25.