SCANA Q2 Earnings Rise, Results Beat Street View; Confirms FY Outlook

(RTTNews) - South Carolina-based SCANA Corp. (SCG) Thursday reported second-quarter earnings which rose amid a slight increase in revenues, as the company benefited from favorable weather, customer growth and a rate increase under the Base Load Review Act. In addition, both earnings and revenues topped analysts' estimates. The company also reiterated its annual earnings outlook.

For the three months to June, net earnings grew to $96 million or $0.68 per share, from $85 million or $0.60 per share a year earlier.

On average, six analysts polled by Thomson-Reuters estimated the company's earnings to be $0.63 for the quarter. Analysts' estimates typically exclude one-time items.

Total operating revenues increased slightly to $1.03 billion, from $1.02 billion last year, above the $983.02 million Wall Street expected.

The company expects earnings of $3.45 to $3.65 per share for 2014, whereas analysts expect $3.60.

SCANA also said it's targeting 3 to 6 percent annual growth over the next 3 to 5 years.