Spire (SR) Tops Q1 EPS by 10c, Beats on Revenues

Spire (NYSE: SR) reported Q1 EPS of $1.16, $0.10 better than the analyst estimate of $1.06. Revenue for the quarter came in at $567.8 million versus the consensus estimate of $505.26 million.

• GAAP earnings were $2.39 per diluted share, or $1.19 per share on a net economic earnings* basis, excluding the largely non-cash impacts of recently enacted federal income tax reform
• Prior year earnings were $0.99 per share (GAAP) and $1.04 per share (net economic earnings)
• Spire's growth strategy advances with a natural gas storage acquisition and continued progress with the Spire STL Pipeline

Outlook

Our capital expenditures forecast for fiscal 2018 is approximately $490 million, with investment in our gas utilities of approximately $415 million and expenditures for our Spire STL Pipeline and natural gas storage estimated to be $75 million. Our five-year capital spend outlook for the fiscal years 2017-2021 remains approximately $2.3 billion. We expect more than 80 percent of our five-year capital spend will be recovered in rates with minimal lag under regulatory mechanisms or reflected in earnings.

For earnings history and earnings-related data on Spire (SR) click here.

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