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SCANA (SCG) Misses Q1 Earnings Estimates on Higher Costs
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SCANA Corporation’s first-quarter 2018 earnings of $1.18 per share missed the Zacks Consensus Estimate of $1.44 and the year-ago quarter’s $1.19, thanks to a rise in expenses. This was partly offset by growth in customer base and improvement in gas margin.
Quarterly operating revenues increased to $1,180 million from $1,173 million in the year-ago quarter.
Segment Performance
South Carolina Electric & Gas Company (SCE&G): Quarterly profits from this segment — SCANA’s principal subsidiary — were $128 million, up from $112 million in the year-ago quarter on healthy gas margins.
As of Mar 31, 2018, SCE&G provided services to about 371,000 customers of natural gas, higher 2.9% annually and 723,000 electric clients, higher 1.4% annually.
PSNC Energy: This segment recorded profits of $49 million in the first quarter, higher than $43 million in the prior-year quarter. The upside was driven by an expanded customer base.
SCANA Energy Marketing: The segment saw profit of $17 million, higher from $15 million in the prior year quarter.
Expenses
During the first quarter, the company reported $991 million in operating expenses, higher than $853 million in the prior-year quarter.
SCANA Corporation Price, Consensus and EPS Surprise
Mammoth Energy is expected to witness a year-over-year rise of 246.5% in 2018 earnings.
Baytex managed to beat the Zacks Consensus Estimate in each of the last three quarters.
EOG Resources is likely to see year-over-year earnings growth of 317.9% in 2018.
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It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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SCANA (SCG) Misses Q1 Earnings Estimates on Higher Costs
SCANA Corporation’s first-quarter 2018 earnings of $1.18 per share missed the Zacks Consensus Estimate of $1.44 and the year-ago quarter’s $1.19, thanks to a rise in expenses. This was partly offset by growth in customer base and improvement in gas margin.
Quarterly operating revenues increased to $1,180 million from $1,173 million in the year-ago quarter.
Segment Performance
South Carolina Electric & Gas Company (SCE&G): Quarterly profits from this segment — SCANA’s principal subsidiary — were $128 million, up from $112 million in the year-ago quarter on healthy gas margins.
As of Mar 31, 2018, SCE&G provided services to about 371,000 customers of natural gas, higher 2.9% annually and 723,000 electric clients, higher 1.4% annually.
PSNC Energy: This segment recorded profits of $49 million in the first quarter, higher than $43 million in the prior-year quarter. The upside was driven by an expanded customer base.
SCANA Energy Marketing: The segment saw profit of $17 million, higher from $15 million in the prior year quarter.
Expenses
During the first quarter, the company reported $991 million in operating expenses, higher than $853 million in the prior-year quarter.
SCANA Corporation Price, Consensus and EPS Surprise
SCANA Corporation Price, Consensus and EPS Surprise | SCANA Corporation Quote
Zacks Rank & Stocks to Consider
SCANA carries a Zacks Rank #3 (Hold). A few better-ranked players in the energy space are Mammoth Energy Services, Inc. (TUSK - Free Report) , Baytex Energy Corp. (BTE - Free Report) and EOG Resources, Inc. (EOG - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Mammoth Energy is expected to witness a year-over-year rise of 246.5% in 2018 earnings.
Baytex managed to beat the Zacks Consensus Estimate in each of the last three quarters.
EOG Resources is likely to see year-over-year earnings growth of 317.9% in 2018.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>