earnings
confidence high
sentiment negative
materiality 0.80
Spire reports narrower Q3 net loss but lowers FY24 NEE guidance to $4.15-$4.25/share
SPIRE INC
2024-Q3 EPS reported
$4.76
revenue$2,299,200,000
- Net loss of $12.6M ($0.28/share) vs net loss of $21.6M ($0.48) a year ago; NEE loss $4.3M ($0.14) vs $18.6M ($0.42).
- FY24 NEE guidance lowered to $4.15-$4.25/share from $4.25-$4.45; cites warm winter, higher interest and bad debt.
- Gas Utility NEE loss improved to $11.0M from $12.3M; Midstream NEE jumped to $13.9M from $3.6M on new storage capacity.
- Launched customer affordability initiative with $4.6M charge in Q3; benefits expected in 2025-2026.
- Capital expenditure guidance for FY24 increased to $830M from $800M driven by advanced meter deployment.