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Mar 31, 2021
Spire Q2 2021 Earnings Report
Spire's second quarter of fiscal year 2021 resulted in increased net income and net economic earnings compared to the previous year.
Key Takeaways
Spire Inc. reported a strong second quarter with net income of $187.4 million, or $3.55 per diluted share, compared to $133.6 million, or $2.54 per share, in the prior year. Net economic earnings (NEE) increased to $195.6 million, or $3.71 per share, from $144.0 million, or $2.75 per share, driven by strong performance in Spire Marketing and improved gas utility results. The company has increased its fiscal 2021 NEE guidance range to $4.30 - $4.50 per share.
Net income for the second quarter of fiscal 2021 was $187.4 million ($3.55 per diluted share), compared to $133.6 million ($2.54 per share) in the prior year.
Net economic earnings (NEE) for the second quarter of fiscal 2021 was $195.6 million ($3.71 per share), up from $144.0 million ($2.75 per share) last year, reflecting strong Spire Marketing performance.
Gas Utility segment NEE was $159.7 million, up from $144.3 million in the prior year.
Gas Marketing segment NEE was $39.8 million, up from $5.1 million in the prior year, benefiting from the February cold weather event.
Revenue by Segment
Forward Guidance
Spire is increasing its fiscal 2021 NEE expectation range to $4.30 - $4.50 per share and affirms its 5-year capital expenditures outlook through fiscal 2025 of $3.0 billion and its expected fiscal 2021 investment of $590 million.
Positive Outlook
- Increased fiscal 2021 NEE expectation range to $4.30 - $4.50 per share.
- Annual long-term NEE per share growth target remains 5-7 percent.
- Long-term targets are based on expected annual rate base growth of 7-8 percent.
- Investment in pipeline upgrades enhances system reliability and safety.
- Pipeline upgrades support further reductions in methane emissions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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