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LG&E ENERGY CORP. POSTS RECORD FOURTH QUARTER EARNINGS

 LOUISVILLE, Ky., Feb. 16 /PRNewswire/ -- LG&E Energy Corp. (NYSE: LGE) earnings increased 58 percent in the fourth quarter of 1992, spurred by strong financial performance by its non-utility businesses. The increase marks the highest earnings for the fourth quarter in the history of the company.
 Earnings for the fourth quarter were 49 cents per share of common stock, compared with 31 cents during the same period last year. The company's non-utility businesses, LG&E Power Systems and a partnership interest in Natural Gas Clearinghouse, outpaced expectations during the quarter by contributing a combined 16 cents per share to earnings. The balance of earnings came from the company's utility subsidiary, Louisville Gas and Electric Company.
 Revenues for the fourth quarter of 1992 were $230.5 million, compared with $170.9 million in the fourth quarter of 1991. The significant increase in the fourth quarter resulted from the addition of the company's non-utility operations in 1992 and from higher gas and electric sales at the utility.
 LG&E Energy Corp.'s 1992 earnings were $2.34 per share, compared with 1991 earnings of $2.57 per share. 1991 earnings included a one- time, after-tax gain of $4.2 million, or 13 cents per share, on the sale of a portion of the company's Trimble County power plant.
 The non-utility businesses contributed 40 cents to the 1992 total, helping to offset a decline in utility earnings caused by some of the mildest weather in decades during both summer cooling and winter heating months. The utility business minimized the impact of weather on earnings by maintaining strict cost controls during the year.
 LG&E Energy Corp.'s 1992 revenues were up approximately 17 percent to $834.7 million, compared with 1991 revenues of $715 million. Non- utility revenues were $130.1 million in 1992, the first full year as paD t of LG&E Energy Corp.
 Roger W. Hale, Chairman and Chief Executive Officer of LG&E Energy Corp., said, "Our 1992 performance is further evidence that the steps we have taken to expand into new growth areas of energy services are paying off for our shareholders."
 LG&E Energy Corp. and Subsidiaries
 Statements of Income
 (Thousands of $ Except per Share Data)
 Three Months Ended Twelve Months Ended
 December 31, December 31,
 1992 1991 1992 1991
 Revenues
 Electric $122,007 $115,178 $526,143 $548,674
 Gas 66,886 55,726 178,526 166,291
 Non-utility 41,558 - 130,070 -
 Total
 revenues 230,451 170,904 834,739 714,965
 Expenses
 Fuel and
 power
 purchased 39,340 33,559 147,679 146,899
 Gas supply 46,680 36,695 115,521 104,212
 Operation and
 maintenance 43,654 45,198 179,755 177,749
 Depreciation and
 amortization 20,198 19,104 79,686 76,431
 Other taxes and
 expenses 3,869 3,622 16,096 15,782
 Non-utility
 expenses 39,226 2,298 129,699 5,761
 Total
 expenses 192,967 140,476 668,436 526,834
 Equity in Earnings of
 Partnership and
 Joint
 Ventures(A) 4,736 - 15,794 -
 Operating
 Income 42,220 30,428 182,097 188,131
 Other Income
 and
 Deductions (1,378) 631 (740) 11,263(B)
 Interest
 Charges 13,137 12,848 51,166 52,680
 Income before
 Taxes 27,705 18,211 130,191 146,714
 Income Taxes 10,304 5,799 47,404 54,299
 Net Income
 before
 Preferred
 Dividends 17,401 12,412 82,787 92,415
 Preferred
 Dividends 1,567 2,366 7,173 9,464
 Net Income $15,834 $10,046 $75,614 $82,951
 Average Common
 Shares
 Outstanding 32,327 32,284(C) 32,307 32,256(C)
 Earnings Per
 Share $0.49 $0.31 $2.34 $2.57
 (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 percent 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.
 -O- 2/16/93
 /CONTACT: Paul Heagen, LG&E, 502-627-2877, office, or 502-228-9763, home/
 (LGE)


CO: LG&E Energy Corp. ST: Kentucky SU: UTI IN: ERN

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Date:Feb 16, 1993
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