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Mar 31, 2024
Spire Q2 2024 Earnings Report
Spire reported second quarter results for fiscal year 2024.
Key Takeaways
Spire reported a net income of $204.3 million, or $3.58 per share, for the second quarter of fiscal year 2024, compared to $179.2 million, or $3.33 per share, in the same period last year. The company reaffirmed its fiscal 2024 net economic earnings guidance range of $4.25–$4.45 per share.
Net income was $204.3 million ($3.58 per share) compared to $179.2 million ($3.33 per share) a year ago
Net economic earnings (NEE) were $196.6 million ($3.45 per share) compared to $199.2 million ($3.70 per share) a year ago
Gas Utility earnings grew as new rates were offset, in part, by lower weather-driven usage in Missouri and higher interest expense.
Reaffirmed fiscal 2024 net economic earnings guidance range 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.
Positive Outlook
- 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 $7.3 billion capital investment target through fiscal 2033
- Driven by increasing investment in infrastructure upgrades and new business in the Gas Utility segment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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