SCANA Q1 Profit Rises, Results Beat View; Backs 2014 Outlook - Quick Facts

(RTTNews) - SCANA Corp. (SCG), a distributor of electricity to retail and wholesale customers, reported first-quarter net income of $193 million or $1.37 per share, up from $151 million or $1.11 per share in the prior-year quarter.

On average, five analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter rose to $1.59 billion from $1.31 billion in the year-ago period. Analysts had a consensus revenue estimate of $1.33 billion for the quarter.

Looking ahead to fiscal 2014, SCANA affirmed its outlook for earnings in a range of $3.45 to $3.65 per share. Street is currently looking for full-year 2014 earnings of $3.55 per share.

The company also backed its average annual growth rate target is 3 to 6 percent over the next 3 to 5 years.