SCANA (SCG) Beats Q2 Earnings Estimate – August 3, 2017

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SCANA Corp.’s (SCG Free Report) operations include generation, transmission, distribution, and sale of electricity to retail and wholesale customers in South Carolina. The company also purchases, sells, and transports natural gas to retail customers in South Carolina and southeastern Georgia; provides energy-related risk management services; and acquires, owns, and provides financing for nuclear fuel, fossil fuel, and emission allowances. In addition, it offers fiber optic communications, Ethernet services, and data center facilities.

Currently, SCANA has a Zacks Rank #4 (Sell) but that could change following its second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have highlighted some of the key details from the just-released announcement below:
 

Earnings: SCANA beat on earnings. Earnings per share came in at 85 cents per share above the Zacks Consensus Estimate of 74 cents.

Revenue: Operating revenues of $1,001 million increased from $905 million in the year ago figure.

 Key Stats: Segment Performance

South Carolina Electric & Gas Company (SCE&G): Quarterly earnings from this segment, SCANA’s principal subsidiary, were 88 cents per share, up 11.4% from 79 cents in the year-ago quarter.

PSNC Energy: This segment recorded profit of 1 cent during the second quarter higher than breakeven level reported in the prior-year quarter.

SCANA Energy Marketing: The segment posted earnings of 1 cent per share compared to breakeven in the second quarter of 2016.

Corporate and Other, Net: This business segment recorded a loss of 5 cents per share and remained flat on a year-over-year basis.

Check back later for our full write up on this SCANA earnings report later!

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