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

    • Market Volatility - Fodder for Financial Fears

      Fact: The value of the stock market goes up and down.  It’s called “market volatility”.  How concerned should you be with a thousand point change in the index? Since your reaction can impact your personal portfolio, it’s most important that you have a good perspective. Significant price movements in the stock market grabbed headlines and captivated media pundits throughout 2018. The last week of the year the market experienced large price swings...

    More

Events



  • Most Popular Stories

    • Loeb Stadium Project in Final Design Phase

      The $17 million overhaul of Loeb Stadium in Lafayette is in its final planning stages. The Journal & Courier says the overall design of the project is complete, which includes flipping the field, an additional suite and a new entrance designed to be a more visible landmark. Lafayette Mayor Tony Roswarski unveiled plans for the reimagining of the more than 75-year-old stadium in 2017. The city council earlier this month approved a $17 million bond to fund the project.

    • Hotel, Mattress Company to Launch Collaboration

      Jeffersonville-based Bowles Mattress Co. and West Baden Springs Hotel in Orange County will Monday officially launch their new mattress series. The partnership, first announced last month, will make the mattresses that had previously only been made for the resort available to the public.

    • Eleven Fifty Says State Support Will Bring '100x Return'

      As Eleven Fifty Academy looks to expand statewide, founder Scott Jones is looking to state legislators for support. He says Next Level Jobs legislation two years ago allowed the coding academy to access about $1.5 million to grow its programs, which he says will result in $150 million in Hoosier income over 10 years. Jones is now looking for up to $20 million, which he says could lead to $1.5 billion in Hoosier income over a decade. During an interview on Inside INdiana Business...

    • Silberline Closing Decatur Facility

      Pennsylvania-based Silberline Manufacturing Co. is detailing plans to close its facility in Adams County. In a notice to the state, the company says the closure will result in the layoffs of 50 employees.

    • Two Indiana Banks on Forbes Best List

      Forbes has ranked the best banks in the country and Indiana has placed two on the list. First Merchants Bank finished 2nd, and Old National Bancorp came in at 97. The metrics used by the publication include tangible common equity, return on average assets, net interest margin,  efficiency ratio and net charge-offs as a percentage of total loans.