Energy holding company SCANA Corp.’s first-quarter 2017 earnings of $1.19 per share missed the Zacks Consensus Estimate of $1.37. The bottom line also deteriorated from the year-ago comparable quarter figure of $1.28 per share. Decrease in sales volume owing to higher than normal temperature was primarily responsible for the underperformance.
Quarterly operating revenues of $1,173 million remained almost flat with the year-ago comparable quarter.
Segment Performance
South Carolina Electric & Gas Company (SCE&G): Quarterly earnings from this segment – SCANA's principal subsidiary – were 78 cents per share, down 3.7% from 81 cents in the year-ago quarter. Warmer weather primarily led to the downside.
PSNC Energy: This segment recorded profit of 30 cents per share during the first quarter compared with 25 cents in the prior-year quarter. The upside was driven by customer growth and improved gas margin.
SCANA Energy Marketing: The segment posted earnings of 11 cents per share compared with 17 cents per share in the year-ago comparable quarter. This was attributable to decreased gas margin due to decline in sales volumes.
Corporate and Other, Net: This business segment’s earnings remained almost unchanged on a year-over-year basis.
Expenses
During the first quarter, the company reported operating expenses of $857 million compared with $841 million in the prior-year quarter.
Guidance
SCANA reaffirmed its 2017 GAAP-adjusted weather-normalized earnings guidance in the range of $4.15–$4.35 per share. The company continues to expect average annual growth rate for adjusted earnings in the range of 4–6% over the next three to five years.
Q1 Price Performances
The pricing chart reveals that the company’s shares underperformed the Zacks categorized Utility-Electric Power industry in the first three months of this year. During this period, the company’s shares lost 10.8%, while the broader industry increased 5.5%.
Zacks Rank
SCANA currently has a Zacks Rank #3 (Hold).
Some better-ranked players from the energy sector include Antero Resources Corporation (AR - Free Report) , W&T Offshore Inc. (WTI - Free Report) and Diamond Offshore Drilling Inc. (DO - Free Report) . Antero Resources and Diamond Offshore sport a Zacks Rank #1 (Strong Buy), while W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Antero Resources beat the Zacks Consensus Estimate in each of the trailing four quarters with an average positive surprise of 239.10%.
W&T Offshore had an average positive earnings surprise of 50.53% for the last four quarters.
Diamond Offshore surpassed the Zacks Consensus Estimate in all the prior four quarters with an average positive earnings surprise of 353.3%.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buys"" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 ""Strong Sells."" Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Energy holding company SCANA Corp.’s first-quarter 2017 earnings of $1.19 per share missed the Zacks Consensus Estimate of $1.37. The bottom line also deteriorated from the year-ago comparable quarter figure of $1.28 per share. Decrease in sales volume owing to higher than normal temperature was primarily responsible for the underperformance.
Quarterly operating revenues of $1,173 million remained almost flat with the year-ago comparable quarter.
Segment Performance
South Carolina Electric & Gas Company (SCE&G): Quarterly earnings from this segment – SCANA's principal subsidiary – were 78 cents per share, down 3.7% from 81 cents in the year-ago quarter. Warmer weather primarily led to the downside.
PSNC Energy: This segment recorded profit of 30 cents per share during the first quarter compared with 25 cents in the prior-year quarter. The upside was driven by customer growth and improved gas margin.
SCANA Energy Marketing: The segment posted earnings of 11 cents per share compared with 17 cents per share in the year-ago comparable quarter. This was attributable to decreased gas margin due to decline in sales volumes.
Corporate and Other, Net: This business segment’s earnings remained almost unchanged on a year-over-year basis.
Expenses
During the first quarter, the company reported operating expenses of $857 million compared with $841 million in the prior-year quarter.
Guidance
SCANA reaffirmed its 2017 GAAP-adjusted weather-normalized earnings guidance in the range of $4.15–$4.35 per share. The company continues to expect average annual growth rate for adjusted earnings in the range of 4–6% over the next three to five years.
Q1 Price Performances
The pricing chart reveals that the company’s shares underperformed the Zacks categorized Utility-Electric Power industry in the first three months of this year. During this period, the company’s shares lost 10.8%, while the broader industry increased 5.5%.
Zacks Rank
SCANA currently has a Zacks Rank #3 (Hold).
Some better-ranked players from the energy sector include Antero Resources Corporation (AR - Free Report) , W&T Offshore Inc. (WTI - Free Report) and Diamond Offshore Drilling Inc. (DO - Free Report) . Antero Resources and Diamond Offshore sport a Zacks Rank #1 (Strong Buy), while W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Antero Resources beat the Zacks Consensus Estimate in each of the trailing four quarters with an average positive surprise of 239.10%.
W&T Offshore had an average positive earnings surprise of 50.53% for the last four quarters.
Diamond Offshore surpassed the Zacks Consensus Estimate in all the prior four quarters with an average positive earnings surprise of 353.3%.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buys"" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 ""Strong Sells."" Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on DO - FREE
Get the latest research report on WTI - FREE
Get the latest research report on AR - FREE