Vectren Profit Increases in 2016

Posted: Updated:
EVANSVILLE -

Evansville-based Vectren Corp. (NYSE: VVC) is reporting full-year net income of $211.6 million in 2016, up from $197.3 million the previous year. Chief Executive Officer Carl Chapman says the success of the company's utility operation was due largely to gas infrastructure investment and cost control efforts.

Vectren is also reporting fourth quarter net income of $69.6 million, up from $65.2 million during the same period in 2015. 

"Overall, the Infrastructure Services' business had a very profitable year. But, as we discussed throughout 2016, the transmission operation has seen increased competition in its primary area of pipeline maintenance work," said Chapman. "Transmission results were favorably impacted in the fourth quarter by the revenue related to a number of projects, including a larger project where work commenced in September. We have started another large project in January that will help meet 2017 earnings targets as we anticipate a return to more maintenance work in 2018 and beyond."

Chapman says Vectren's continued investment in its gas infrastructure and accelerated investment in its electric system, combined with the company's strong non-utility portfolio, is expected to create more strong results for 2017.

  • Perspectives

    • Mitigating Your Company’s Cybersecurity Risk

      Frequently, I encounter people who think that a software developer understands all languages and can “fix” anything tech related. While that may be true for a few, areas of expertise within tech evolve as rapidly as the technology itself. For instance, there was a time (not long ago) when operating in the cloud was revolutionary. Today, it is considered best practices for some or all of an organization to function within a cloud. Managed information technology began with...

    More

Events



  • Most Popular Stories

    • (Image courtesy of the Indiana Economic Development Corp.)

      Indy-to-Paris Flight Celebrates One Year

      One year after the first nonstop flight from Indianapolis International Airport to Paris, Airport Authority Executive Director Mario Rodriguez says the flight is "fully meeting our expectations." He says, on average, more than 1,000 passengers per week fly between Indianapolis and Paris. Delta Air Lines Flight 500 marked IND's first year-round, nonstop transatlantic air service to Europe. The airline increases the route's frequency throughout the spring, summer and fall...

    • Dupont Hospital to Showcase Renovations

      Multi-million-dollar renovations at Dupont Hospital in Fort Wayne will be unveiled Thursday. Fourteen months of construction have added facilities and space for specialized services offered by Lutheran Children's Hospital. The additions include a six-bed pediatric inpatient unit and a three-bed pediatric intensive care unit. The second floor pediatric inpatient unit had previously been designated for medical surgical patients, but now features the color of...

    • I-65 INDOT construction map

      I-65 Construction Update

      Construction work is scheduled to start next week on I-65 near downtown Indianapolis. Indiana Department of Transportation crews will begin to clean up the interstates after two years of freeze/thaw cycles. Crews will be working in segments, including patching and repaving work. INDOT crews will begin work in earnest on northbound and southbound in segments, beginning on weekend nights from April 26 through August.  

    • Telamon Corporation CEO to Retire

      Telamon Corporation Chief Executive Officer Albert Chen has announced he will retire next month. Chen will continue to serve as executive chairman of the board, and current chief operating officer Stan Chen succeed him as CEO. Stephanie Chen Fuhrmann will serve as COO. 
    • Danger: Jointly-Owned Property With a Non-Spouse

      It is very common for spouses to title property that they own together as "joint with right of survivorship." When one passes, the other owns the property outright. It's simple, easy, and automatic. But it gets messy when the other joint owner isn’t your spouse.