Thu, Aug 1, 9:01 PM (88 days ago)
IPALCO Enterprises, Inc. reported its financial results for the quarter ended June 30, 2024. Key highlights include: - Revenue increased marginally by $1.3 million (0.3%) year-over-year to $397.6 million for Q2 2024 but decreased by $82.3 million (9.3%) to $805.4 million for the first half of 2024 compared to the same period in 2023. - Operating income rose significantly by $37.2 million (92.9%) to $77.3 million for Q2 2024 and by $41.7 million (43.1%) to $138.3 million for the first half of 2024. - Net income attributable to common stock surged by $33.8 million (422%) to $41.8 million for Q2 2024 and by $31.8 million (117.4%) to $59.0 million for the first half of 2024. - The company experienced a decrease in fuel costs by $47.8 million (38.1%) for Q2 2024 and by $134.6 million (42.7%) for the first half of 2024. - Interest expenses increased by $8.6 million (24.5%) for Q2 2024 and by $17.4 million (24.9%) for the first half of 2024 due to higher borrowings. - Cash flow from operations decreased by $260.2 million to $30.7 million for the first half of 2024. - Capital expenditures are expected to total approximately $3.2 billion from 2024 through 2026, focusing on power generation, transmission, distribution, and storage system improvements. The company highlighted uncertainties related to regulatory outcomes, supply chain disruptions, inflation, and interest rates, which could impact future financial performance.