SCANA Corp. (SCG) Misses Q1 EPS by 11c, Reaffirms Guidance

SCANA Corp. (NYSE: SCG) reported Q1 EPS of $1.23, $0.11 worse than the analyst estimate of $1.34. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $1.26 billion.

The Company reaffirms its guidance for 2016 GAAP-adjusted weather-normalized earnings per share of $3.90 to $4.10, with an internal target of $4.00 per share.

The Company previously increased the lower end of the band of its average annual growth rate target for GAAP-Adjusted Weather Normalized earnings per share from 3 percent to 4 percent. The guidance is now 4 to 6 percent over the next 3 to 5 years. The Company also reset its base year for this outlook to 2015 GAAP-Adjusted Weather Normalized earnings per share of $3.73 (reflecting a downward adjustment of 8 cents per share to normalize weather in the electric business and $1.41 per share to remove the gains on the sales of CGT and SCI).

For earnings history and earnings-related data on SCANA Corp. (SCG) click here.

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