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Dec 31, 2020
Spire Q1 2021 Earnings Report
Spire reported first quarter results with increased net income and net economic earnings compared to the prior year.
Key Takeaways
Spire Inc. reported a strong start to fiscal 2021 with increased earnings and solid operating performance. The company's first quarter net income was $88.9 million ($1.65 per diluted share), compared to $67.0 million ($1.24 per share) in the prior year. Net economic earnings were $76.9 million ($1.42 per share), up from $71.8 million ($1.33 per share) a year ago.
First quarter fiscal 2021 net income was $88.9 million ($1.65 per diluted share), compared to $67.0 million ($1.24 per share) in the prior year.
Net economic earnings of $76.9 million ($1.42 per share), increased from $71.8 million ($1.33 per share) a year ago.
The company remains on track with its capital investment program and reaffirms its long-term earnings growth and ESG targets.
Gas Utility segment's net economic earnings increased, reflecting a higher contribution margin and lower expenses.
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 fiscal 2021 NEE per share expectation of $4.00 - $4.20, as well as its annual long-term NEE per share growth target of 5-7 percent, supported by expected annual rate base growth of 7-8 percent. The company also affirms its 5-year capital expenditures outlook through fiscal 2025 of $3.0 billion, with an expected fiscal 2021 investment of $590 million, with $560 million earmarked for gas utilities.
Positive Outlook
- Affirms fiscal 2021 NEE per share expectation of $4.00 - $4.20.
- Annual long-term NEE per share growth target of 5-7 percent.
- Expected annual rate base growth of 7-8 percent.
- 5-year capital expenditures outlook through fiscal 2025 of $3.0 billion.
- Expected fiscal 2021 investment of $590 million, with $560 million earmarked for gas utilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income