earnings
confidence high
sentiment neutral
materiality 0.65
Spire Q2 NEE per share falls to $3.45 from $3.70; Gas Utility up, Marketing down; FY guidance reaffirmed
SPIRE INC
2024-Q2 EPS reported
$5.14
revenue$1,885,100,000
- Net income $204.3M ($3.58 EPS) vs $179.2M ($3.33) prior year; NEE $196.6M ($3.45) vs $199.2M ($3.70).
- Gas Utility NEE $188M (+$4.1M) on new rates and Spire Alabama growth, partly offset by lower Missouri weather usage.
- Gas Marketing NEE $15.5M vs $21.8M due to lack of prior year favorable market conditions; Midstream $3.8M vs $4.2M.
- Reaffirmed FY2024 NEE guidance $4.25-$4.45 per share; capital expenditure raised to $800M from $765M.
- Higher share count: 55.9M diluted vs 52.6M due to equity unit conversion and ATM settlement.