Spire (SR) tops Q2 EPS by 26c, affirms guidance

Spire (NYSE: SR) reported Q2 EPS of $2.90, $0.26 better than the analyst estimate of $2.64. Revenue for the quarter came in at $803.5 million versus the consensus estimate of $795.73 million.

Earnings Guidance and Outlook

We affirm our fiscal 2019 NEE guidance range of $3.70 – $3.80 per diluted share. Our longer-term NEE per share growth target remains 4 – 7 percent.

Our capital expenditures forecast for fiscal 2019 is increased to $740 million reflecting increases in investment across our businesses including for construction of Spire STL Pipeline, the investment in the development of Spire Storage, and higher spend for our gas utilities focused on infrastructure upgrades and new business. Our five-year capital spend outlook for the fiscal years 2019 – 2023 is $2.8 billion, an increase from $2.6 billion for 2018 – 2022.

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

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