This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SCANA's Management Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: SCG

Now, on slide four, I would like to review results for our principal lines of business. South Carolina Electric & Gas Company's 2012 first quarter earnings per share denoted in blue were flat compared to the first quarter of 2011. Electric margin was $0.07 higher due to increases under the Base Load Review Act, net of the $0.01 weather decline. This increase in margin was offset by higher operating and maintenance expenses, interest expense and depreciation, as well as share dilution. Total weather-normalized electric sales to residential and commercial customers were relatively flat over the first quarter.

Industrial sales were down approximately 2% due to reduced production at one of our largest customers as a result of a fire. We understand this customer's production will likely be limited for the majority of the year. PSNC Energy's earnings for the first quarter of 2012 shown in red were $0.24 per share compared to $0.25 per share in 2011. Increases in customer growth were slightly more than offset by higher operating and maintenance expenses and share dilution.

SCANA Energy in green reported lower earnings for the first quarter of 2012 due to the aforementioned milder weather. In the first quarter of 2011, weather increased SCANA Energy's margins by $0.02. However, the extremely mild weather in the first quarter of 2012 resulted in an $0.08 swing in margins.

Next, I would like to touch on economic trends in our service area as shown on slide five. We continue to see business growth and expansion. In the first quarter, companies announced plans to invest $124 million with expectations of creating over 200 jobs in our South Carolina territory. Our gas businesses in North Carolina also saw a promising quarter of economic announcements with companies projecting investment of $194 million and over 2,900 jobs. These announcements covered a variety of industries such as plastics, metals, and food and beverage. As I have mentioned previously, 2011 was an excellent year in terms of economic announcements and we are pleased that this trend appears to be continuing. Another measure – container volume at the Port of Charleston also continues to improve.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs