Spire Earnings Call Transcripts
Fiscal Year 2026
-
Adjusted EPS rose to $1.77, driven by strong utility performance and new rates, with reaffirmed long-term EPS growth targets and robust capital investment plans. Storage asset sale and Tennessee acquisition integration remain key near-term priorities.
-
The meeting highlighted strong financial results, a 5.1% dividend increase, and leadership transitions. Shareholders approved all proposals, including director elections and auditor ratification. Strategic focus remains on operational excellence, regulatory engagement, and the Tennessee acquisition.
Fiscal Year 2025
-
Adjusted EPS grew 7.5% to $4.44 in fiscal 2025, with strong segment performance and a 5.1% dividend increase. Fiscal 2026–2027 guidance projects continued EPS growth, supported by infrastructure investment, regulatory progress, and the pending Piedmont Tennessee acquisition.
-
Q3 adjusted earnings improved year-over-year, driven by growth across all segments and disciplined cost management. The company reaffirmed its long-term EPS growth target and fiscal 2025 guidance, announced a major acquisition in Tennessee, and secured regulatory wins in Missouri.
-
The $2.48 billion acquisition of Piedmont Natural Gas Tennessee LDC expands the regulated utility footprint, increases scale, and is expected to be accretive to earnings. The deal leverages a constructive regulatory environment, supports long-term EPS growth, and will be financed through a balanced mix of debt, equity, and potential asset sales.
-
Adjusted EPS rose to $3.60, driven by utility and midstream growth, while weather-related margin headwinds led to a utility guidance reduction. CapEx and midstream guidance increased, and long-term EPS growth targets and FY25 guidance were reaffirmed.
-
Q1 adjusted earnings fell to $1.34/share from $1.47/share year-over-year, with growth in utility and midstream segments offset by lower marketing results. Fiscal 2025 EPS guidance of $4.40–$4.60/share and a 5%-7% long-term growth target were reaffirmed.
-
The meeting highlighted board and executive changes, strong financial performance despite market challenges, and ongoing strategic investments. All shareholder proposals passed, including director elections and auditor ratification, with a focus on long-term planning and operational excellence.
Fiscal Year 2024
-
Fiscal 2024 adjusted earnings rose 8% year-over-year, driven by strong gas utility and midstream performance, while Q4 results lagged due to gas marketing headwinds. FY25 EPS guidance is $4.40–$4.60, with a robust $7.4B CapEx plan and continued focus on regulatory and cost efficiency.
-
Fiscal Q3 net economic earnings loss narrowed year-over-year, driven by improved segment results and cost management. FY 2024 guidance was lowered but remains within a narrowed range, with long-term growth targets reaffirmed. Capital investment and efficiency initiatives position the company for future growth.