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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
Spire
Spire
Spire Revenue by Segment
Revenue by Segment
Gas Utility Revenue
CapyFin.comGas Marketing Revenue
CapyFin.comMidstream Revenue
CapyFin.comOther Revenue
CapyFin.comEliminations Revenue
CapyFin.com 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