Mild weather hurts IPALCO’s results

Indianapolis-based IPALCO Enterprises Inc., the parent of electric utility Indianapolis Power & Light, saw revenue sag in the third quarter, which contributed to a sharp drop in earnings.

IPALCO posted a profit of $33.2 million on revenue of $355.3 million in the quarter. That compared to profit of $47.3 million on $361.3 million in revenue in the same quarter a year earlier.

In a filing with the Securities and Exchange Commission, IPALCO said IPL’s service territory experienced milder weather during this year’s third quarter, compared to a year earlier, which hurt revenue and profit.

Through the first nine months of 2017, IPALCO’s revenue totaled $1.014 billion, up slightly from the $1.012 billion reported in the same period of 2016. Profit through the first nine months of 2017 was $84.9 million, down from $104.7 million.

IPL provides electric service to more than 470,000 residential, commercial and indusrial customers in Indianapolis, as well as some other central Indiana communities.•

Please enable JavaScript to view this content.

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets in {{ count_down }} days.