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Dec 31, 2021
Spire Q1 2022 Earnings Report
Spire's financial performance decreased due to warm weather and higher expenses.
Key Takeaways
Spire reported a decrease in net income to $55.7 million ($1.01 per diluted share) compared to $88.9 million ($1.65 per share) in the first quarter of the previous year. Net economic earnings also decreased to $62.6 million ($1.14 per share) from $76.9 million ($1.42 per share) year-over-year, influenced by warm weather and increased expenses. The company reaffirmed its 2022 earnings expectations of $3.70 - $4.00 per share.
Net income was $55.7 million ($1.01 per diluted share), down from $88.9 million ($1.65 per share) in the first quarter of the prior year.
Net economic earnings were $62.6 million ($1.14 per share), compared to $76.9 million ($1.42 per share) a year ago, impacted by warm weather and higher expenses.
Spire STL Pipeline received a temporary certificate to continue operation through winter.
Earnings expectations for 2022 remain unchanged at $3.70 - $4.00 per share.
Spire
Spire
Spire Revenue by Segment
Revenue by Segment
Gas Utility Revenue
CapyFin.comGas Marketing Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Spire expects its fiscal 2022 NEE to fall in the range of $3.70 to $4.00 per share.
Positive Outlook
- Long-term ability to grow NEE per share 5-7% given growth strategy
- Expectations of reasonable regulatory outcomes
- Planned capital investment in infrastructure upgrades
- Planned capital investment in innovation
- Planned capital investment in new business
Challenges Ahead
- Missouri rate order
- Uncertainty surrounding recovery of overhead costs
- Weather conditions
- Economic factors
- Competitive environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income