SCANA Reaffirms 2015 Guidance, Announces Preliminary 2016 Guidance

(RTTNews) - SCANA Corp. (SCG) reaffirmed its guidance for 2015 GAAP-adjusted weather-normalized earnings per share of $3.60 to $3.80. Analysts polled by Thomson Reuters expected the company to report earnings of $3.74 per share for fiscal year 2015. Analysts' estimates typically exclude special items. Excluded from estimated 2015 GAAP-adjusted weather-normalized earnings per share is the effect of the aggregate gains of $1.41 per share recorded in the first quarter of 2015 from the sales of CGT and SCI.

For 2015, the Company estimates that GAAP earnings per share will be in the range of $5.00 to $5.20, with an internal target of $5.10. This estimate includes the effect of the item discussed in the preceding paragraph with respect to the sales of CGT and SCI. Based on 2014 GAAP earnings per share of $3.79, the Company's targeted average annual earnings per share growth rate is 1 to 5 percent over the next 3 to 5 years.

For 2016, the Company preliminarily estimates that GAAP-adjusted weather-normalized earnings per share will be $3.90 to $4.10, with an internal target of $4.00 per share. Analysts expect annual earnings of $3.88 per share. The Company's targeted average annual growth rate for GAAP-adjusted weather-normalized earnings per share is 3 to 6 percent over the next 3 to 5 years. The Company previously reset its base year to 2014 GAAP-adjusted weather-normalized earnings per share of $3.58 (reflecting a downward adjustment of 21 cents per share to normalize weather in the electric business).