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Dec 31, 2019
Spire Q1 2020 Earnings Report
Spire reported first quarter results with net income of $67.0 million and net economic earnings of $71.8 million.
Key Takeaways
Spire Inc. reported a decrease in net income to $67.0 million ($1.24 per diluted share) for the first quarter of fiscal 2020, compared to $67.3 million ($1.32 per share) in the prior year. However, net economic earnings increased to $71.8 million ($1.33 per share) from $65.9 million ($1.30 per share) a year ago.
First quarter fiscal 2020 net income of $67.0 million ($1.24 per diluted share), compared to $67.3 million ($1.32 per share) in the prior year.
Net economic earnings of $71.8 million ($1.33 per share), up from $65.9 million ($1.30 per share) a year ago.
Capital expenditures forecast for FY20 increased to $610 million, reflecting higher gas utility spend.
Spire STL Pipeline went into service during the quarter.
Spire
Spire
Spire Revenue by Segment
Revenue by Segment
Gas Utility Revenue
CapyFin.comGas Marketing Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Spire affirms its 5-year capital expenditures outlook through fiscal 2023 of $3.0 billion and annual long-term NEE per share growth target of 4-7 percent. Expected fiscal 2020 investment has increased to $610 million, reflecting a $20 million increase in targeted spend for gas utilities.
Positive Outlook
- Continued consistent growth of gas utilities driven by organic growth initiatives.
- Capital investment focused on infrastructure upgrades.
- Capital investment focused on technology.
- Capital investment focused on new business.
- Growing contributions from expansion of Spire Marketing and commercial operation of Spire STL Pipeline.