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Sep 30, 2020
Spire Q4 2020 Earnings Report
Spire reported a net loss for Q4 2020, but the loss was lower than the previous year due to improved results from Gas Utility, partially offset by a loss at Spire Marketing.
Key Takeaways
Spire Inc. reported a consolidated net loss of $19.7 million ($0.45 per diluted share) for the fourth quarter of fiscal 2020, compared to a net loss of $34.3 million ($0.74 per share) in the prior year. On a NEE basis, the quarterly loss was $15.3 million ($0.37 per share) compared to a loss of $23.7 million ($0.54 per share) in the prior-year period.
Net loss was $19.7 million, or $0.45 per diluted share, compared to a net loss of $34.3 million, or $0.74 per share, in the prior year.
Net economic loss was $15.3 million, or $0.37 per share, compared to a loss of $23.7 million, or $0.54 per share, in the prior-year period.
Gas Utility reported a loss on a NEE basis of $8.4 million, compared to a loss of $20.9 million in the prior year.
Net economic loss for Gas Marketing was $2.2 million, compared to NEE of $1.6 million in the prior year.
Revenue by Segment
Forward Guidance
Spire increased its long-term NEE per share earnings growth target to 5-7% and targeted capital investment to $3.0 billion for the 5-year period extending to 2025. Fiscal 2021 NEE per share is expected to be in the range of $4.00-$4.20.
Positive Outlook
- Continued consistent growth of regulated businesses
- Improved contributions from Spire Marketing
- Capital investment focused on infrastructure upgrades, technology and new business investments in gas utilities
- Annual rate base growth of 7-8%
- More than 80% of utility spend to be recovered in rates with minimal lag under regulatory mechanisms or reflected in earnings
Challenges Ahead
- No specific negatives were mentioned in the provided text.
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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