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News Breaks | | | | February 14, 2013 | | 17:38 EDT |  | VVC | Vectren sees FY13 EPS $1.90-$2.10, consensus $1.94
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News For VVC From The Last 14 Days Check below for free stories on VVC the last two weeks. |
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| June 18, 2013 | | 18:25 EDT |  | VVC | Vectren venture ProLiance disposes of gas marketing assets
Vectren (VVC) announced effective June 18, ProLiance Holdings, has disposed of certain of the net assets, along with the long term pipeline and storage commitments, of its wholesale natural gas marketing subsidiary, ProLiance Energy, to a subsidiary of Energy Transfer (ETP). ProLiance is jointly owned by affiliates of Vectren and Citizens Energy. Upon final adjustments for working capital, costs and fees associated with the disposition of these net assets, ProLiance expects to record a loss of between ($62M)-($67M). Vectren's after-tax share of the net loss to be recorded in Q2 is expected to be between ($26M)-($28M), or (32c)-(34c) per share. The loss associated with the disposition by Vectren's unconsolidated subsidiary, ProLiance, has no material cash flow impact to Vectren. Through the date of the disposition, Vectren's share of the 2013 expected operating losses are estimated to be (10c)-(12c) per share. | |
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