SCANA Q3 Profit Rises, Tops Estimates; Maintains Forecast - Quick Facts

(RTTNews) - Electric utility SCANA Corp. (SCG) reported Thursday that its third-quarter net earnings were $131 million or $0.94 per share, compared to $122 million, or $0.91 per share a year ago.

On average, eight analysts polled by Thomson Reuters expected earnings of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues edged up to $1.051 billion from $1.038 billion last year. Analysts expected revenues of $1.12 billion.

Jimmy Addison, Executive Vice President and Chief Financial Officer, said, "We are pleased with the third quarter results and our accelerating customer growth in our electric and gas businesses. For the year, margins have increased due to electric base rate increases and customer growth, as well as a return to normal weather in Georgia during the first quarter of 2013."

Looking ahead for fiscal 2013, the company continues to expects basic earnings per share to be in the range of $3.25 to $3.45, with internal target of $3.35 basic earnings per share. The company continues to target an average annual earnings growth rate of 3 to 6 percent over the next 3 to 5 years.

Analysts expect earnings of $3.38 per share for the year.