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

    • Increasing Women Leaders in Companies and Associations

      As members of an industry largely populated by male professionals, we see firsthand the need for more diversity. As Katie Culp, president of KSM Location Advisors, noted in a recent blog, diversity leads to better business decisions.

    More

Events



  • Most Popular Stories

    • Coal Loading Facility Planned For Princeton

      A subsidiary of Denver-based Hallador Energy Co. (Nasdaq: HNRG) has announced plans to construct a new truck-to-rail coal loading facility near Princeton. Sunrise Coal LLC in Terre Haute says the facility, known as the Princeton Loop, is expected to be complete in the spring of 2018. 

    • Opioid Withdrawal Treatment Lands FDA Clearance

      The U.S. Food and Drug Administration has given clearance for a medical device developed in Indiana to help treat symptoms of opioid withdrawal. The device, known as the NSS-2 BRIDGE, was created by Innovative Health Solutions Inc. in Versailles.

    • New Device Clears the Air for ER Docs

      Seconds matter in the emergency room, and it was having those critical seconds slip away that sparked the idea for a new medical device to help trauma patients breathe. 

    • The Critical Importance of Shared Vision

      Vision statements and vision exercises - many organizations have them, but do they work? Business literature on the power of vision exists in abundance. But the real challenge about this strategic element is achieving and acting on a truly shared vision. Make no mistake, the power of shared vision moves mountains, and it's worth the required effort. Here are some thoughts to consider.

    • On-Air

      Find out when and where you can watch and listen to our reports.