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Sep 30, 2024
Spire Q4 2024 Earnings Report
Spire reported a net loss for Q4 2024, but Midstream earnings improved due to higher storage revenues.
Key Takeaways
Spire Inc. reported a net loss of $25.9 million for Q4 2024, compared to a net loss of $31.1 million in the same period last year. On an adjusted earnings basis, the quarterly loss was $27.6 million, compared to a loss of $37.6 million in the year-ago period. Midstream segment saw improved earnings due to higher storage revenues.
Spire reported a consolidated net loss of $25.9 million, or $(0.51) per share, compared to a net loss of $31.1 million, or $(0.66) per share, last year.
Adjusted loss was $27.6 million, or $(0.54) per share, compared to a loss of $37.6 million, or $(0.78) per share in the year-ago period.
Gas Utility reported a loss on an adjusted earnings basis during the quarter of $32.0 million compared to a loss of $34.0 million in the year-ago period.
Midstream fourth quarter adjusted earnings were $13.4 million, up from $2.5 million in the year-ago period, driven by higher storage earnings.
Spire
Spire
Spire Revenue by Segment
Revenue by Segment
Gas Utility Revenue
CapyFin.comGas Marketing Revenue
CapyFin.comMidstream Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Spire expects fiscal 2025 adjusted EPS to be in a range of $4.40 to $4.60. Capital expenditures for fiscal 2025 are expected to be $790 million.
Positive Outlook
- Long-term adjusted earnings per share growth target remains 5–7%.
- Earnings per share growth is driven by an expected long-term 7–8% annualized rate base growth at Spire Missouri.
- 6% equity growth at Spire Alabama and Spire Gulf.
- Capital investment target of $7.4 billion extends through fiscal 2034.
- Increasing investment in infrastructure upgrades and new business at the Gas Utilities (98% of capital investment).
Revenue & Expenses
Visualization of income flow from segment revenue to net income