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SCANA Reports Financial Results for Fourth Quarter and Full Year 2012 and Announces Preliminary 2013 Earnings Guidance

  SCANA Reports Financial Results for Fourth Quarter and Full Year 2012 and
                 Announces Preliminary 2013 Earnings Guidance

PR Newswire

CAYCE, S.C., Feb. 21, 2013

CAYCE, S.C., Feb. 21, 2013 /PRNewswire/ -- SCANA Corporation (NYSE: SCG) today
announced earnings for the fourth quarter and full year 2012.

(Logo: http://photos.prnewswire.com/prnh/20111004/CH80784LOGO )

For the year ended December 31, 2012, SCANA reported earnings of $420 million,
or basic earnings per share of $3.20, compared to earnings of $387 million, or
basic earnings per share of $3.01, for the same period in 2011. The increase
was driven by higher electric margins due to customer growth and rate
increases under the Base Load Review Act. Higher operations and maintenance
expense, interest, depreciation, and share dilution partially offset the
increase in margin.

"We are very pleased with our results for 2012. Abnormally mild weather in
our Georgia market presented a challenge for the year. However, our team
successfully implemented strategies to address that challenge and deliver on
our earnings target," said Jimmy Addison, executive vice president and chief
financial officer. "We are optimistic about our growth in 2013 and look
forward to another successful year as the economy in our service territory
continues to show improvement."

SCANA's earnings for the fourth quarter of 2012 were $105 million, or basic
earnings per share of 79 cents, compared to earnings of $98 million, or basic
earnings per share of 76 cents, for the fourth quarter of 2011. During the
fourth quarter, increases in electric and gas margins principally from base
rate increases were partially offset by increases in operations and
maintenance expenses, interest, depreciation and share dilution.

FINANCIAL RESULTS BY MAJOR LINES OF BUSINESS

South Carolina Electric & Gas Company

Reported earnings for 2012 at South Carolina Electric & Gas Company (SCE&G),
SCANA's principal subsidiary, were $352 million, or basic earnings per share
of $2.69, compared to $316 million, or basic earnings per share of $2.46, in
2011. For the fourth quarter of 2012, SCE&G reported earnings of $70 million,
or basic earnings per share of 54 cents compared to $65 million, or basic
earnings per share of 50 cents, in the same quarter of 2011. The increase in
earnings was due to higher margins primarily from base rate increases under
the Base Load Review Act and the gas Rate Stabilization Act, along with
customer growth. These increases were partially offset by increases in
operations and maintenance, interest and depreciation expenses and share
dilution. At year-end 2012, SCE&G was serving approximately 670,000 electric
customers and approximately 323,000 natural gas customers, up 0.9 and 1.8
percent, respectively, over 2011.

PSNC Energy

PSNC Energy, the Company's North Carolina-based retail natural gas
distribution subsidiary, reported 2012 earnings of $51 million, or basic
earnings per share of 38 cents, compared to $49 million, or basic earnings per
share of 37 cents, in 2011. Reported earnings in the fourth quarter of 2012
were $23 million, or basic earnings per share of 17 cents, compared to $22
million, or basic earnings per share of 17 cents in the fourth quarter of
2011. Increases in margin due to customer growth were partially offset by
higher operations and maintenance expenses. At December 31, 2012, PSNC Energy
was serving approximately 497,000 customers, an increase of 2.0 percent over
the previous year.

SCANA Energy - Georgia

SCANA Energy, the Company's retail natural gas marketing business in Georgia,
reported 2012 earnings of $11 million, or basic earnings per share of 8 cents,
compared to $24 million, or basic earnings per share of 19 cents, in 2011. The
decrease is primarily attributable to lower throughput due to extremely mild
weather, particularly in the first quarter. Earnings in the fourth quarter of
2012 were $7 million, or basic earnings per share of 6 cents, compared to $10
million, or basic earnings per share of 8 cents in the fourth quarter of
2011. The decrease is primarily due to milder weather.

Corporate and Other, Net

SCANA's corporate and other businesses, which include Carolina Gas
Transmission, SCANA Communications, ServiceCare, SCANA Energy Marketing and
the holding company, reported earnings of $6 million, or basic earnings per
share of 5 cents in 2012, compared to a loss of $2 million, or 1 cent in 2011.
For the fourth quarter of 2012, these businesses reported earnings of $4
million, or basic earnings per share of 2 cents, compared to earnings of $1
million, or basic earnings per share of 1 cent in the fourth quarter of 2011.
During 2012 SCANA sold two groups of wireless telecommunications towers in its
communications business, as it does periodically when the towers are well
subscribed. These sales contributed gains of approximately 4 cents per share.

EARNINGS OUTLOOK

For 2013, the Company preliminarily estimates that earnings per share will be
in the range of $3.25 to $3.45, with an internal target of $3.35 per share.
The company is increasing its annual average growth rate target to 3 to 6
percent over a 3 to 5 year period based on 2012 basic earnings.

This estimate assumes the issuance of the shares under the 2010 equity forward
in the first quarter of 2013. Other factors and risks that could impact
future earnings are discussed in the Company's filings with the Securities and
Exchange Commission and below under the Safe Harbor Statement.

CONFERENCE CALL NOTICE

SCANA will host its quarterly conference call for security analysts at 10:00
a.m. ET on Thursday, February 21, 2013. The call-in numbers for the conference
call are 1-800-860-2442 (US), 1-866-605-3852 (Canada) and 1-412-858-4600
(International). Participants should call in 5 to 10 minutes prior to the
scheduled start time. A replay of the conference call will be available
approximately 2 hours after conclusion of the call through March 8, 2013. The
telephone replay numbers are 1-877-344-7529 (US) and 1-412-317-0088
(Canada/International). The passcode for the telephone replay is 10023235.

All interested persons, including investors, media and the general public, may
listen to a live webcast and access related presentation materials of the
conference call at the Company's website at www.scana.com. Participants
should go to the website at least 5 to 10 minutes prior to the call start time
and follow the instructions.

PROFILE

SCANA Corporation, headquartered in Cayce, S.C., is an energy-based holding
company principally engaged, through subsidiaries, in electric and natural gas
utility operations and other energy-related businesses. The Company serves
approximately 670,000 electric customers in South Carolina and more than 1.2
million natural gas customers in South Carolina, North Carolina and Georgia.
Information about SCANA and its businesses is available on the Company's
website at www.scana.com.

SAFE HARBOR STATEMENT

Statements included in this press release which are not statements of
historical fact are intended to be, and are hereby identified as,
"forward-looking statements" for purposes of Section27A of the Securities Act
of 1933, as amended, and Section21E of the Securities Exchange Act of 1934,
as amended. Forward-looking statements include, but are not limited to,
statements concerning key earnings drivers, customer growth, environmental
regulations and expenditures, leverage ratio, projections for pension fund
contributions, financing activities, access to sources of capital, impacts of
the adoption of new accounting rules and estimated construction and other
expenditures. In some cases, forward-looking statements can be identified by
terminology such as "may," "will," "could," "should," "expects," "forecasts,"
"plans," "anticipates," "believes," "estimates," "projects," "predicts,"
"potential" or "continue" or the negative of these terms or other similar
terminology. Readers are cautioned that any such forward-looking statements
are not guarantees of future performance and involve a number of risks and
uncertainties, and that actual results could differ materially from those
indicated by such forward-looking statements. Important factors that could
cause actual results to differ materially from those indicated by such
forward-looking statements include, but are not limited to, the following: (1)
the information is of a preliminary nature and may be subject to further
and/or continuing review and adjustment; (2) regulatory actions, particularly
changes in rate regulation, regulations governing electric grid reliability,
environmental regulations, and actions affecting the construction of new
nuclear units; (3) current and future litigation; (4) changes in the economy,
especially in areas served by subsidiaries of SCANA; (5) the impact of
competition from other energy suppliers, including competition from alternate
fuels in industrial markets; (6) the impact of conservation efforts and/or
technological advances on customer usage; (7) growth opportunities for SCANA's
regulated and diversified subsidiaries; (8) the results of short- and
long-term financing efforts, including prospects for obtaining access to
capital markets and other sources of liquidity; (9) changes in SCANA's or its
subsidiaries' accounting rules and accounting policies; (10) the effects of
weather, including drought, especially in areas where the generation and
transmission facilities of SCANA and its subsidiaries (the Company) are
located and in areas served by SCANA's subsidiaries; (11) payment and
performance by counterparties and customers as contracted and when due; (12)
the results of efforts to license, site, construct and finance facilities for
electric generation and transmission; (13) maintaining creditworthy joint
owners for SCE&G's new nuclear generation project; (14) the ability of
suppliers, both domestic and international, to timely provide the labor,
components, parts, tools, equipment and other supplies needed, at agreed upon
prices, for our construction program, operations and maintenance; (15) the
results of efforts to ensure the physical and cyber security of key assets and
processes; (16) the availability of fuels such as coal, natural gas and
enriched uranium used to produce electricity; the availability of purchased
power and natural gas for distribution; the level and volatility of future
market prices for such fuels and purchased power; and the ability to recover
the costs for such fuels and purchased power; (17) the availability of skilled
and experienced human resources to properly manage, operate, and grow the
Company's businesses; (18) labor disputes; (19) performance of SCANA's pension
plan assets; (20) changes in taxes; (21) inflation or deflation; (22)
compliance with regulations; (23) natural disasters and man-made mishaps that
directly affect our operations or the regulations governing them; and (24) the
other risks and uncertainties described from time to time in the periodic
reports filed by SCANA or SCE&G with the United States Securities and Exchange
Commission. The Company disclaims any obligation to update any
forward-looking statements.



FINANCIAL AND OPERATING INFORMATION
Condensed Consolidated Statements of
Income
(Millions, except per share
amounts) (Unaudited)
                                  Quarter Ended           Year Ended
                                  December 31,            December 31,
                                  2012        2011        2012        2011
Operating Revenues:
 Electric                   $596        $ 521       $2,446      $2,424
 Gas-Regulated                  261         237         774         849
 Gas-Nonregulated               266         278         956         1,136
 Total Operating Revenues     1,123       1,036       4,176       4,409
Operating Expenses:
 Fuel Used in Electric          221         178         838         917
Generation
 Purchased Power                8           3           28          19
 Gas Purchased for Resale       361         353         1,198       1,455
 Other Operation and            180         157         690         658
Maintenance
 Depreciation and               90          88          356         346
Amortization
 Other Taxes                    51          49          207         201
 Total Operating Expenses     911         828         3,317       3,596
Operating Income                  212         208         859         813
Other Income (Expense)
 Other Income                   19          16          59          52
 Other Expense                  (13)        (11)        (42)        (40)
 Interest Charges, Net          (76)        (72)        (295)       (284)
 Allowance for Equity Funds     9           1           21          14
Used During Construction
 Total Other Expense          (61)        (66)        (257)       (258)
Income Before Income Tax          151         142         602         555
Expense
Income Tax Expense       46          44          182         168
Net Income                        105         98          420         387
Basic Earnings Per Share of       $0.79       $0.76       $3.20       $3.01
Common Stock
Diluted Earnings Per Share of     $0.78       $0.75       $3.15       $2.97
Common Stock^(1)
Weighted Average Shares
Outstanding (Millions):
 Basic                           131.9       129.7       131.1       128.8
 Diluted^(1)                     134.2       131.4       133.3       130.2
Dividends Declared Per Share      $0.495      $0.485      $1.98       $1.94
of Common Stock


Note (1): In May 2010, SCANA entered into an equity forward sales agreement.
During periods when the average market price
of SCANA's common stock is above the per share adjusted forward sales price,
the Company computes diluted earnings per
share giving effect to this dilutive potential common stock using the treasury
stock method.



Earnings per Share by Company:
(Unaudited)
                                  Quarter Ended  Year Ended
                                  December 31,   December 31,
                                  2012    2011   2012   2011
SC Electric & Gas                 $0.54   $0.50  $2.69  $2.46
PSNC Energy                       0.17    0.17   0.38   0.37
SCANA Energy-Georgia              0.06    0.08   0.08   0.19
Corporate and Other               0.02    0.01   0.05   (0.01)
 Basic Earnings per Share       $0.79   $0.76  $3.20  $3.01
 Diluted Earnings per Share^(1) $0.78   $0.75  $3.15  $2.97



Variances in Earnings per Share:
(Unaudited)
                                                   Quarter Ended  Year Ended
                                                   December 31,   December 31,
2011 Basic Earnings per Share                      $0.76          $3.01
Variances:
 Electric Margin                                0.14           0.49
 Natural Gas Margin                             0.02           0.01
 Operations & Maintenance Expense             (0.12)         (0.17)
 Interest Expense (Net of AFUDC)                0.02           (0.02)
 Depreciation                                   (0.01)         (0.05)
 Other Taxes                                    (0.01)         (0.03)
 Other (Including Tower Sales)                  0.00           0.02
 Dilution                                       (0.01)         (0.06)
 Variances in Earnings per Share             0.03           0.19
2012 Basic Earnings per Share                      $0.79          $3.20
Additional Dilution re: Potential Common           (0.01)         (0.05)
Stock^(1)
2012 Diluted Earnings per Share^(1)                $0.78          $3.15



Media Contact:       Investor Contacts:
Eric Boomhower       Iris Griffin       Byron Hinson
(803) 217-7701       (803) 217-6642     (803) 217-5352
eboomhower@scana.com igriffin@scana.com bhinson@scana.com

SOURCE SCANA Corporation

Website: http://www.scana.com