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Mar 31, 2023
Spire Q2 2023 Earnings Report
Reported improved results for the second quarter, driven by strong performance from gas marketing and midstream businesses and higher earnings from gas utilities.
Key Takeaways
Spire Inc. reported net income of $179.2 million ($3.33 per diluted share) for Q2 2023, compared to $173.6 million ($3.27 per share) in the prior year. Net economic earnings were $199.2 million, or $3.70 per share, up from $181.0 million, or $3.42 per share a year ago. The company narrowed its fiscal 2023 net economic earnings guidance range to $4.20–$4.30 per share.
Net income of $179.2 million ($3.33 per diluted share) compared to net income of $173.6 million, or $3.27 per share in the prior year
Net economic earnings of $199.2 million, or $3.70 per share, up from $181.0 million, or $3.42 per share a year ago, driven by improved results across all operating segments
Gas Utility reported NEE of $183.9 million, up $14.7 million from last year as higher contribution margins were partially offset by higher expenses including from regulatory cost recovery and other non-employee costs.
Fiscal 2023 net economic earnings guidance range narrowed to $4.20–$4.30 per share
Spire
Spire
Forward Guidance
Spire narrowed its fiscal 2023 NEE per share guidance range to $4.20–$4.30.