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LG&E ENERGY CORP. REPORTS RESULTS

 LG&E ENERGY CORP. REPORTS RESULTS
 LOUISVILLE, Ky., Oct. 26 /PRNewswire/ -- LG&E Energy Corp.


(NYSE: LGE) earned 91 cents per share of common stock for the three months ended September 30, 1992, compared with $1.05 for the comparable period last year. Revenues for the three months ended September 30, 1992, were $210 million, an increase of 12 percent. The increase in revenues was due to the addition of the company's non-utility operations in 1992.
 The company's two non-utility businesses, LG&E Power Systems Inc. (Power Systems), an independent power producer, and Natural Gas Clearinghouse (NGC), the largest independent gas marketing company in the U.S., in which LG&E Energy Corp. indirectly owns a one-third partnership interest, contributed 8 cents to consolidated earnings per share for the three months ended September 30, 1992. The contributions of Power Systems and NGC have exceeded expectations thus far in 1992. Power Systems' strong financial results were primarily due to operations of three power plants in Virginia and better than anticipated construction profits. NGC also achieved excellent financial results, attributable in part to increased natural gas prices and growth in term sales volumes.
 "We are very pleased with the performance of our non-utility businesses," said Roger Hale, Chairman of LG&E Energy Corp. "With a return to more normal weather we can look forward to a stronger overall growth trend than in recent years."
 Louisville Gas and Electric Company contributed 85 cents to consolidated earnings per share for the three months ended September 30, 1992, compared with $1.06 for the comparable period last year. Revenues for the three months ended September 30, 1992, were $180 million, down from $188 million for the comparable period last year. The decline in revenues and earnings was because of the unusually mild weather to date. For the three month period, the mild weather reduced earnings per share by 21 cents.
 Earnings per share for the nine- and 12-month periods ended September 30, 1992, were $1.85 and $2.16, respectively, compared with $2.26 and $2.56 for the same periods last year. LG&E Energy Corp.'s earnings were enhanced by the continuing profitable operations of its non-utility businesses; however, earnings declined because of the mild weather the company has experienced throughout 1992.
 LG&E Energy Corp.'s earnings for the nine- and 12-month periods ended September 30, 1991, included a one-time, after-tax gain of $4.2 million from the sale of a 12 percent interest in the Trimble County generating station.
 LG&E Energy Corp. and Subsidiaries
 Statements of Income
 (Thousands of $ Except per Share Data)
 3 Months Ended 9 Months Ended 12 Months Ended
 September 30, September 30, September 30,
 1992 1991 1992 1991 1992 1991
 REVENUES
 Electric $160,325 $171,957 $404,136 $433,496 $519,314 $550,924
 Gas 19,819 15,832 111,640 110,565 167,366 162,802
 Non-utility 29,835 - 88,512 - 88,512 -
 Total revenues 209,979 187,789 604,288 544,061 775,192 713,726
 EXPENSES
 Fuel and
 power
 purchased 39,858 40,524 108,339 113,340 141,898 151,230
 Gas supply 11,857 8,571 68,840 67,517 105,536 102,843
 Operating:
 Utility 46,318 45,246 136,101 132,551 181,299 175,595
 Non-utility 31,941 264 85,523 1,084 85,852 2,135
 Depreciation and
 amortization 20,298 19,042 60,189 57,528 79,375 71,509
 Other taxes and
 expenses 4,582 4,636 16,196 14,338 21,704 17,380
 Total expenses 154,854 118,283 475,188 386,358 615,664 520,692
 Equity in Earnings
 of Partnership
 and Joint
 Ventures (A) 6,945 - 10,777 - 10,777 -
 Operating Income 62,070 69,506 139,877 157,703 170,305 193,034
 Other Income and
 Deductions 864 1,109 638 10,630(B) 1,270 9,672(B)
 Interest Charges 13,401 13,061 38,029 39,831 50,878 53,926
 Income Before
 Taxes 49,533 57,554 102,486 128,502 120,697 148,780
 Income Taxes 18,443 21,269 37,100 48,499 42,899 56,747
 Net Income
 Before Preferred
 Dividends 31,090 36,285 65,386 80,003 77,798 92,033
 Preferred
 Dividends 1,577 2,366 5,606 7,098 7,972 9,465
 NET INCOME $29,513 $33,919 $59,780 $72,905 $69,826 $82,568
 Average Common
 Shares
 Outstanding 32,310 32,267(C) 32,301 32,248(C) 32,297 32,205(C)
 Earnings
 Per Share $0.91 $1.05 $1.85 $2.26 $2.16 $2.56
 (A) Includes pretax earnings contributions from Natural Gas
 Clearinghouse partnership and LG&E Power Systems' joint
 ventures.
 (B) Includes pretax gain on sale of 12% of Trimble County generating
 station.
 (C) Effective May 15, 1992, outstanding shares of common stock were
 split on a 3-for-2 basis. Average common shares outstanding and
 earnings per share amounts for the applicable periods, presented
 above, have been restated to reflect the stock split.
 -0- 10/26/92
 /CONTACT: Paul Heagen, LG&E, 502-627-2877, office or 502-228-9763, home/
 (LGE) CO: LG&E Energy Corp. ST: Kentucky IN: UTI SU: ERN


DF -- CH015 -- 5092 10/26/92 18:09 EST
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Date:Oct 26, 1992
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