Vectren Earnings: Here’s Why the Stock is Up Now
Vectren Corporation (NYSE:VVC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.01%.
Vectren Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.45% to $0.33 in the quarter versus EPS of $0.31 in the year-earlier quarter.
Revenue: Rose 12.83% to $531 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Vectren Corporation reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $509.12 million.
Quoting Management: “We continue to be pleased with the performance of our utility operations as it outperformed 2012 for both the quarter and year-to-date,” said Carl L. Chapman, Vectren’s chairman, president and CEO. “For our nonutility group, Infrastructure Services’ results also exceeded last year’s performance for the first half of the year as the demand for infrastructure replacement continues. During the quarter, we completed the exit of the natural gas marketing business through ProLiance’s disposition of the assets of ProLiance Energy. We think this move is important as we continue to focus on providing the most value to investors. Finally, though we are disappointed with the financial results of our coal mining operation, we are hopeful that results will improve through the ramp up of the Oaktown operations and continued focus on cost reductions at Prosperity.”
Key Stats (on next page)…