SCANA Corp.’s SCG 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. SCANA also builds, manages, and leases communications towers in South Carolina, North Carolina, and Georgia; and services contracts on home appliances, and heating and air conditioning units.
Currently, SCANA has a Zacks Rank #4 (Sell) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: SCANA beats on earnings. Earnings per share came in at 74 cents per share beating the Zacks Consensus Estimate of 73 cents.
Revenue: Operating revenues of $905 million declined 6.4% year over year.
Key Stats:
Segment Performance: South Carolina Electric & Gas Company (SCE&G): Quarterly earnings from this segment, SCANA's principal subsidiary, were 79 cents per share, up from 77 cents in the year-ago quarter.
PSNC Energy: This segment posted break-even numbers flat with the prior-year quarter.
SCANA Energy-Georgia: The segment – comprising SCANA’s retail natural gas marketing business in Georgia – posted break-even number, higher than loss of 2 cents in the second quarter of 2015.
Check back later for our full write up on this SCG earnings report later!
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SCANA (SCG) Q2 Earnings Beat, Revenues Fall YoY
SCANA Corp.’s SCG 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. SCANA also builds, manages, and leases communications towers in South Carolina, North Carolina, and Georgia; and services contracts on home appliances, and heating and air conditioning units.
Currently, SCANA has a Zacks Rank #4 (Sell) but that could change following its second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
SCANA CORP Price and EPS Surprise
SCANA CORP Price and EPS Surprise | SCANA CORP Quote
Earnings: SCANA beats on earnings. Earnings per share came in at 74 cents per share beating the Zacks Consensus Estimate of 73 cents.
Revenue: Operating revenues of $905 million declined 6.4% year over year.
Key Stats:
Segment Performance: South Carolina Electric & Gas Company (SCE&G): Quarterly earnings from this segment, SCANA's principal subsidiary, were 79 cents per share, up from 77 cents in the year-ago quarter.
PSNC Energy: This segment posted break-even numbers flat with the prior-year quarter.
SCANA Energy-Georgia: The segment – comprising SCANA’s retail natural gas marketing business in Georgia – posted break-even number, higher than loss of 2 cents in the second quarter of 2015.
Check back later for our full write up on this SCG earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>