<ARTICLE> UT <LEGEND> EXHIBIT 27(a) The schedule contains summary financial information extracted from the Consolidated Balance Sheet at March 31, 1997 and the Consolidated Statement of Income and the Consolidated Statement of Cash Flows for the three months ended March 31, 1997 and is qualified in its entirety by reference to such financial statements. </LEGEND> <CIK> 0000789943 <NAME> IES INDUSTRIES INC. <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <BOOK-VALUE> PER-BOOK <TOTAL-NET-UTILITY-PLANT> 1,350,093 <OTHER-PROPERTY-AND-INVEST> 383,148 <TOTAL-CURRENT-ASSETS> 168,144 <TOTAL-DEFERRED-CHARGES> 15,169 <OTHER-ASSETS> 196,096 <TOTAL-ASSETS> 2,112,650 <COMMON> 412,143 <CAPITAL-SURPLUS-PAID-IN> 0 <RETAINED-EARNINGS> 215,703 <TOTAL-COMMON-STOCKHOLDERS-EQ> 627,846 <PREFERRED-MANDATORY> 0 <PREFERRED> 18,320 <LONG-TERM-DEBT-NET> 651,763 <SHORT-TERM-NOTES> 0 <LONG-TERM-NOTES-PAYABLE> 0 <COMMERCIAL-PAPER-OBLIGATIONS> 126,000 <LONG-TERM-DEBT-CURRENT-PORT> 63,480 <PREFERRED-STOCK-CURRENT> 0 <CAPITAL-LEASE-OBLIGATIONS> 17,421 <LEASES-CURRENT> 14,047 <OTHER-ITEMS-CAPITAL-AND-LIAB> 593,773 <TOT-CAPITALIZATION-AND-LIAB> 2,112,650 <GROSS-OPERATING-REVENUE> 257,687 <INCOME-TAX-EXPENSE> 9,317<F1> <OTHER-OPERATING-EXPENSES> 221,618 <TOTAL-OPERATING-EXPENSES> 221,618<F1> <OPERATING-INCOME-LOSS> 36,069 <OTHER-INCOME-NET> 638 <INCOME-BEFORE-INTEREST-EXPEN> 36,707 <TOTAL-INTEREST-EXPENSE> 14,846 <NET-INCOME> 12,315<F2> <PREFERRED-STOCK-DIVIDENDS> 229<F2> <EARNINGS-AVAILABLE-FOR-COMM> 12,315 <COMMON-STOCK-DIVIDENDS> 15,858 <TOTAL-INTEREST-ON-BONDS> 38,631 <CASH-FLOW-OPERATIONS> 78,495 <EPS-PRIMARY> 0.41 <EPS-DILUTED> 0 <FN> <F1>Income tax expense is not included in Operating Expense in the Consolidated Statements of Income for IES Industries Inc. (Industries). <F2> Since the preferred dividends are for a subsidiary of Industries, they are considered a fixed charge on Industries' Consolidated Statement of Income. </FN>