SCANA Corporation today announced earnings for the second quarter of 2014 of $96 million, or basic earnings per share of 68 cents, compared to $85 million, or basic earnings per share of 60 cents, for the second quarter of 2013.

For the first six months of 2014, SCANA reported earnings of $289 million, or basic earnings per share of $2.05, compared to $237 million, or basic earnings per share of $1.73, for the same period in 2013.

"Second quarter results improved principally due to weather related electric sales," said Jimmy Addison, Executive Vice President and Chief Financial Officer.  "Year to date, earnings increases were due to weather, a rate increase under the Base Load Review Act, and continued customer growth."

FINANCIAL RESULTS BY MAJOR LINES OF BUSINESS

South Carolina Electric & Gas Company

Reported earnings for the second quarter of 2014 at South Carolina Electric & Gas Company (SCE&G), SCANA's principal subsidiary, were $99 million, or basic earnings per share of 70 cents, compared to $88 million, or basic earnings per share of 63 cents, in the second quarter of 2013. Increases in margins due primarily to weather, a Base Load Review Act rate increase, and customer growth, as well as higher gas margins, were partially offset by increases in operations and maintenance expenses, and expenses related to our capital program including property taxes and depreciation, as well as share dilution.  At June 30, 2014, SCE&G was serving approximately 684,000 electric customers and approximately 332,000 natural gas customers, up 1.4 and 2.3 percent over the previous year.

PSNC Energy

PSNC Energy, the Company's North Carolina-based retail natural gas distribution subsidiary, reported earnings for the second quarter of 2014 of $2 million, or basic earnings per share of 1 cent, compared to breakeven results in the second quarter of 2013, due to increased gas margins from customer growth.  At June 30, 2014, PSNC Energy was serving approximately 505,000 customers, an increase of 2.3 percent over the previous year.

SCANA Energy - Georgia 

SCANA Energy, the Company's retail natural gas marketing business in Georgia, reported a seasonal loss of $3 million, or 2 cents per share, in the second quarter 2014, consistent with the second quarter of 2013.

Corporate and Other, Net 

SCANA's corporate and other businesses, which include Carolina Gas Transmission, SCANA Communications, SCANA Energy Marketing and the holding company, reported a loss of $2 million, or 1 cent per share, for the second quarter of 2014, consistent with the second quarter of 2013.

EARNINGS OUTLOOK

The Company reaffirms its guidance for 2014 earnings per share to be in the range of $3.45 to $3.65, with an internal target of $3.55per share. The Company's average annual growth rate target is 3 to 6 percent over the next 3 to 5 years.

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.