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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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