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Dec 31, 2023
Spire Q1 2024 Earnings Report
Spire reported solid operational and financial results driven by growth in the Gas Utility segment.
Key Takeaways
Spire's first quarter results showed a net income of $85.1 million ($1.52 per share) compared to $91.0 million ($1.66 per share) in the prior year. Net economic earnings (NEE) were $82.7 million ($1.47 per share) compared to $85.1 million ($1.55 per share) a year ago. The company affirmed its fiscal 2024 NEE expectation of $4.25–$4.45 per share.
Net income was $85.1 million ($1.52 per share) compared to $91.0 million ($1.66 per share) in the prior year.
Net economic earnings (NEE) were $82.7 million ($1.47 per share) compared to $85.1 million ($1.55 per share) a year ago.
Gas Utility segment reported NEE of $75.8 million, up from $62.9 million in the prior year.
Affirmed fiscal 2024 NEE expectation of $4.25–$4.45 per share.
Revenue by Segment
Forward Guidance
Spire continues to expect fiscal 2024 NEE to be in a range of $4.25–$4.45 per share. The company remains confident in its ability to grow long-term NEE per share 5–7% driven by expected 7–8% annual utility rate base growth, reflecting the company's robust capital investment plan.
Positive Outlook
- Expects fiscal 2024 NEE to be in a range of $4.25–$4.45 per share.
- Confident in ability to grow long-term NEE per share 5–7%.
- Driven by expected 7–8% annual utility rate base growth.
- Reflecting robust capital investment plan.
- 10-year $7.2 billion capital investment target through fiscal 2033.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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