The parent company of South Carolina Electric & Gas Co. today posted a third quarter profit of $131 million, a 7.4 percent increase from the same period a year ago.
Cayce-based SCANA Corp. said the June-September gain totaled 94 cents on per-share basis.
SCE&G generated the bulk of the company’s earnings.
“We are pleased with the third-quarter results and our accelerating customer growth in our electric and gas businesses,” said Jimmy Addison, executive vice president and chief financial officer.
Year-to-date through Sept. 30, SCANA reported earnings of $368 million, or $2.67 a share, up 17 percent from the first nine months of 2012.
“For the year, margins have increased due to electric base rate increases and customer growth, as well as a return to normal weather in Georgia during the first quarter of 2013,” Addison said.
SCANA also reaffirmed its our earnings guidance for the year at $3.35 a share.
Third-quarter net income at SCE&G was $139 million, a 5 percent increase from a year ago. That gain was offset by capital improvement expenses and losses at other SCANA businesses.
As of Sept. 30, SCE&G had about 675,000 power customers and 325,000 natural gas customers, respective increases of 1.3 percent and 2.2 percent over 2012.
Contact John McDermott at 937-5572
Notice about comments:
The Post and Courier is pleased to offer readers the enhanced ability to comment on stories. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We ask that you refrain from profanity, hate speech, personal comments and remarks that are off point.