Cayce, S.C., May 3, 2012... SCANA Corporation (NYSE: SCG) today announced basic earnings for the first quarter of 2012 of $121 million, or 93 cents per share, compared to $128 million, or $1.00 per share, for the first quarter of 2011.
“The first quarter was historic for SCANA as we received the Combined Construction and Operating Licenses for two new nuclear units,” said Jimmy Addison, Executive Vice President and Chief Financial Officer. “Although we experienced one of the mildest winters in several decades, the impact to earnings was tempered by weather normalization mechanisms in our regulated subsidiaries. The decline in first quarter earnings was primarily driven by an 8 cent swing in weather in our non-regulated natural gas business in Georgia. While the mild weather impacted our results for the quarter, our core fundamentals remain unchanged. We continue to offer a business strategy focused on providing reliable power to our customers and long-term growth for our shareholders.”
The full press release with financial data is available in Adobe PDF format: