on April 28 postedfirst-quarter non-GAAP, weather-normalized EPS of $1.28, down from $1.34 pershare in the prior-year quarter. The first-quarter S&P Capital IQ consensusestimate for normalized EPS was $1.30.
GAAPnet income came in at $176 million, or $1.23 per share, compared to $400million, or $2.80 cents per share in the 2015 quarter.
"Contrastingto the previous two winters which were both colder than normal, this year weexperienced abnormally mild winter weather in the first quarter," SCANAExecutive Vice President and CFO Jimmy Addison said. "The gains on thesales of the subsidiaries in 2015 combined with this flip from a positiveweather impact in the first quarter of 2015 to a negative weather impact in thefirst quarter of 2016 account for most of our year over year change in results."
Thecompany reported total operating revenues for the first quarter of $1.17billion, down from $1.39 billion in the corresponding quarter of 2015, andoperating income of $331 million, compared to $586 million in the 2015 firstquarter.
posted first-quarter earnings of $116 million, or 81 cents per share, comparedto $126 million, or 89 cents per share, in the corresponding quarter of 2015.Electric margins were higher due primarily to a Base Load Review Act rateincrease and customer growth, offset by milder weather during the firstquarter, the company said.
SCANA'sNorth Carolina-based retail natural gas distribution subsidiary, d/b/a PSNC Energy, reported first-quarter 2016 earnings of $36 million, or 25cents per share, compared to $34 million, or 24 cents per share, in the firstquarter of 2015.
Naturalgas marketer Scana EnergyMarketing Inc. posted first-quarter 2016 earnings of $24 million,or 17 cents per share, compared to $32 million, or 23 cents per share, in thefirst quarter of 2015. The decrease was primarily due to lower throughput inthe first quarter of 2016 due to weather.
SCANA'scorporate and other businesses reported relatively flat earnings, compared toearnings of $207 million, or $1.44 per share in 2015. The decrease was mainlyattributable to gains on the sales of Carolina Gas Transmission and SCANACommunications during the first quarter of 2015.
SCANAreaffirmed itsfull-year 2016 GAAP-adjusted weather-normalized EPS guidance in the range of$3.90 to $4.10, targeting a midpoint of $4.00 per share.
Thecompany will host its first-quarter 2016 earnings conference call at 3 p.m. ETon April 28.