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Jun 30, 2021
Spire Q3 2021 Earnings Report
Spire's financial performance remained solid, delivering earnings comparable to the previous year, despite facing challenges with the STL Pipeline.
Key Takeaways
Spire reported a net income of $5.3 million, or $0.03 per diluted share, for the third quarter of fiscal year 2021, compared to a loss of $92.3 million, or $1.87 per share, in the prior period. Net economic earnings (NEE) were $6.9 million, or $0.06 per share, compared to $7.3 million, or $0.07 per share, a year ago. The company reaffirmed its fiscal 2021 NEE guidance range of $4.30 - $4.50 per share and capital expenditures outlook of $590 million.
Net income was $5.3 million ($0.03 per diluted share), compared to a prior-period loss of $92.3 million, or $1.87 per share.
Net economic earnings (NEE) were $6.9 million ($0.06 per share), compared to $7.3 million ($0.07 per share) a year ago.
Fiscal 2021 NEE guidance range of $4.30 - $4.50 per share and capital expenditures outlook of $590 million were reaffirmed.
Spire is pursuing all legal and regulatory avenues to ensure critical energy infrastructure remains in service for Missouri customers and communities.
Revenue by Segment
Forward Guidance
Spire reaffirms its fiscal 2021 NEE expectation range of $4.30 - $4.50 per share and our 5-year capital expenditures outlook through fiscal 2025 of $3.0 billion and our expected fiscal 2021 investment of $590 million.
Positive Outlook
- Annual long-term NEE per share growth target remains 5-7%.
- Gas utilities are expected to have continued, consistent growth.
- Annual rate base growth of 7-8% is expected.
- Investment in pipeline upgrades is planned.
- Technology upgrades and new business are in progress.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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