SIGECO Financials 2024 – Assets Up, Debt Steady

By Bobby Samwell • Tuesday, March 18 15:17 • Permanent Link

Southern Indiana Gas & Electric Company (SIGECO) has released its consolidated financial statements for the years ended December 31, 2024 and 2023. The following key changes in financial metrics have been observed:

Total Assets: Total assets increased from $3.84 billion in 2023 to $4.10 billion in 2024.
Current Assets: Cash and cash equivalents decreased from $14 million in 2023 to $9 million in 2024. Accounts receivable increased from $47 million in 2023 to $54 million in 2024.
Property, Plant, and Equipment: This category witnessed a rise, with net property, plant, and equipment increasing from $2.989 billion in 2023 to $3.249 billion in 2024.
Total Liabilities: Total liabilities increased from $3.84 billion in 2023 to $4.10 billion in 2024.
Long-Term Debt: Long-term debt, net, remained unchanged at $1.397 billion in both 2023 and 2024.
Revenues: Total revenues increased from $740 million in 2023 to $771 million in 2024.
Expenses: Operating expenses decreased from $615 million in 2023 to $554 million in 2024, leading to an increase in operating income.
Net Income: Net income rose significantly from $80 million in 2023 to $147 million in 2024.
Cash Flows from Operating Activities: Net cash provided by operating activities increased from $226 million in 2023 to $272 million in 2024.
Cash Flows from Investing Activities: SIGECO reported a decrease in net cash used in investing activities, from $491 million in 2023 to $397 million in 2024.
Cash Flows from Financing Activities: Net cash provided by financing activities decreased from $277 million in 2023 to $119 million in 2024.
Cash and Equivalents: Cash, cash equivalents, and restricted cash decreased from $17 million in 2023 to $11 million in 2024.

These financial metrics indicate a mixed performance for SIGECO in 2024, with increases in total assets, revenues, net income, and cash flows from operating activities, but decreases in cash and cash equivalents, as well as net cash provided by financing activities. As a result of these announcements, the company's shares have moved -0.6% on the market, and are now trading at a price of $35.39. Check out the company's full 8-K submission here.

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