Loading...
•
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.
Revenue by Segment
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...