Evansville-based Vectren Corp. (NYSE: VVC) is reporting first quarter net income of $63.5 million, up from $55.4 million during the same period last year. The results come as the company is in the midst of a $6 billion merger with Texas-based CenterPoint Energy Inc. (NYSE: CNP).
Chief Executive Officer Carl Chapman says Vectren’s first quarter results are on track to meet its expectations for the year. "Our Utility Group results reflect the on-going investment in our gas infrastructure programs in both Indiana and Ohio that continue to drive growth for the business."
Vectren announced the merger with CenterPoint last week. The combined company will remain headquartered in Evansville and Chapman says he still expects the deal to be complete in the first quarter of 2019.
"The combination of these companies will result in a leading energy delivery, infrastructure and services company serving more than 7 million customers across the United States," said Chapman. "The combination capitalizes on the growth we have delivered and that we expect to continue well into the future."
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