Spire (NYSE: SR) reported Q2 EPS of $2.75, $0.20 worse than the analyst estimate of $2.95. Revenue for the quarter came in at $715.5 million versus the consensus estimate of $783.02 million.

Net income of $133.6 million ($2.54 per diluted share), compared to $154.6 million ($3.04 per share) in the prior year
Net economic earnings* of $144.0 million ($2.75 per share), down from $147.9 million ($2.90 per share) a year ago, reflecting warmer than normal weather
Increased our FY20 capital expenditures plan to $640 million and launched our 5-year capital plan through 2024 totaling $2.8 billion

"Our second quarter results were below our plans, largely driven by lower margins from warmer weather across our footprint. Heading into the second half of our fiscal year, we're focused on continuing to safely and reliably serve our customers and support our communities, while upgrading our infrastructure and operating efficiently," said Suzanne Sitherwood, president and chief executive officer of Spire. "Beginning in March, we set in motion a broad range of proactive steps to address the coronavirus health crisis and its economic impact on our customers, while passionately protecting the health and safety of our employees and communities. We've worked with our regulators to find supportive solutions for customers whose income has been interrupted, including suspending service disconnections and late payment fees. I'm especially proud of our DollarHelp program and how our employees and customers are rallying to support one another. It's truly about people helping people."

Guidance and Outlook

We have updated our expected fiscal 2020 capital investment, increasing it by $30 million to $640 million, with $560 million earmarked for our gas utilities and $80 million for our gas-related businesses. We have also updated our 5-year capital expenditure plan to now include 2024, with total investment expected to be $2.8 billion and supporting utility rate base growth of 7-8 percent over that time period.

We affirm our annual long-term NEE per share growth target of 4-7 percent. At this time, we are not providing fiscal 2020 earnings guidance due to the uncertainty over the resolution of ISRS cases in Missouri.

While we have seen limited financial impact from the coronavirus during the first half of our fiscal year, we do anticipate that the combination of higher costs, lower demand and the economic slowdown resulting from the health crisis could adversely impact us for the remainder of calendar 2020. We have taken many actions to ensure our team, customers and communities are both safe and positioned to begin to recover successfully. We are monitoring the potential impacts of the coronavirus, including lower demand and fees and higher bad debts and other operating costs, and we are pursuing operational efficiencies and potential regulatory mechanisms to offset those impacts. We will share our latest view on our earnings call noted below.

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