SCANA Corporation (SCG) has reported a 26.53 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $124 million, or $0.87 a share in the quarter, compared with $98 million, or $0.69 a share for the same period last year.
Revenue during the quarter grew 10.56 percent to $1,057 million from $956 million in the previous year period. Total expenses were 76.06 percent of quarterly revenues, down from 77.62 percent for the same period last year. This has led to an improvement of 155 basis points in operating margin to 23.94 percent.
Operating income for the quarter was $253 million, compared with $214 million in the previous year period.
"We are pleased with our annual results and the continued growth in our electric and gas companies," said Jimmy Addison, executive vice president and chief financial officer. "Our earnings outlook continues to support our long-term growth expectations, based upon expected customer growth and investment in our electric and gas infrastructure driven by the economies of the Carolinas."
For financial year 2017, SCANA Corporation projects diluted earnings per share to be in the range of $4.15 to $4.35 on adjusted basis.
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