SCANA 2nd-quarter profit inches lower amid higher expenses, though revenue climbs

SCANA 2nd-quarter profit edges lower

CAYCE, S.C. — SCANA Corp. said Thursday that its second-quarter profit edged lower due in part to higher property taxes, interest and operating and maintenance expenses.

The natural gas and electric company earned $54 million, or 43 cents per share, down from a profit of $55 million, or 45 cents per share, in the same period a year earlier.

Revenue rose 7 percent to $939 million from $878 million.

Analysts, on average, expected profit of 45 cents per share on revenue of $900.1 million, according to a poll by Thomson Reuters.

The company narrowed its full-year earnings guidance to a range of $2.90 to $3.05 per share. Analysts project income of $3.05 per share.

Shares fell 82 cents, or 2.1 percent, to $38.81 in afternoon trading.