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Dec 31, 2024
Spire Q1 2025 Earnings Report
Spire reported first quarter results for fiscal year 2025.
Key Takeaways
Spire Inc. reported a decrease in net income and adjusted earnings for the first quarter of fiscal year 2025 compared to the previous year, but affirmed its fiscal 2025 adjusted earnings guidance range. The Gas Utility segment saw increased earnings in Spire Alabama and Spire Gulf, offset by lower Spire Missouri earnings. Midstream earnings grew due to additional capacity and contract renewals at higher rates for Spire Storage, while Gas Marketing earnings decreased due to market conditions.
First quarter net income was $81.3 million ($1.34 per diluted share), down from $85.1 million ($1.52 per share) year-over-year.
First quarter adjusted earnings were $81.1 million ($1.34 per share), compared to $82.7 million ($1.47 per share) in the prior year.
Gas Utility earnings increased, driven by Spire Alabama and Spire Gulf, but partially offset by lower Spire Missouri earnings.
The company affirmed its fiscal 2025 adjusted earnings guidance range of $4.40–$4.60 per share.
Spire
Spire
Spire Revenue by Segment
Revenue by Segment
Gas Utility Revenue
CapyFin.comGas Marketing Revenue
CapyFin.comMidstream Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Spire continues to expect fiscal 2025 adjusted earnings to be in the range of $4.40–$4.60 per share.
Positive Outlook
- Confidence in ability to grow long-term adjusted earnings per share 5–7%.
- Expected long-term 7–8% annualized rate base growth at Spire Missouri.
- Robust capital investment plan.
- 6% equity growth at Spire Alabama and Spire Gulf.
- 10-year $7.4 billion capital investment target through fiscal 2034.
Revenue & Expenses
Visualization of income flow from segment revenue to net income