WASHINGTON (dpa-AFX) - SCANA Corp. (SCG) Thursday released the financial results for the first quarter ended 31 March 2012, reporting that net income available to common shareholders for the quarter declined to $121 million, or $0.93 per share from $128 million, or $1.00 per share reported for the corresponding quarter last year.
The company attributed the drop in net income during the quarter to an 8 cent swing in weather in the non-regulated natural gas business in Georgia.
On average, eight analysts polled by Thomson Reuters expected earnings per share of $1.01 for the quarter. Analysts' estimates typically exclude one-time items.
Total operating revenues for the first quarter declined to $1.11 billion from $1.28 billion in the prior-year quarter. Three analysts estimated revenues of $1.24 billion for the quarter.
Looking ahead, the company reiterated its 2012 guidance for basic earnings per share to be in the range of $3.05 to $3.25. Ten analysts project earnings of $3.14 per share for 2012.
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