Spire (SR) Misses Q4 EPS by 2c

Spire (NYSE: SR) reported Q4 EPS of ($0.66), $0.02 worse than the analyst estimate of ($0.64). Revenue for the quarter came in at $314.2 million versus the consensus estimate of $321.18 million.

Guidance and Outlook:

We remain confident in our long-term ability to grow NEE per share 5-7% given our growth strategy across our businesses.

We are updating and expanding our targeted capital investment to include a 10-year period through fiscal 2032, with total expenditures expected to be $7.0 billion. The plan is driven by our commitment to invest in upgrades to our gas utility pipelines and infrastructure, comprising nearly all of the spend during that period. We expect our capital plan to drive 7-8% annual rate base growth for our utilities. This plan also includes the investment over the next two fiscal years to expand Spire Storage as outlined earlier in the year.

Capital expenditures for fiscal 2023 are expected to be approximately $700 million, including $150 million for our midstream businesses, primarily for the Spire Storage expansion.

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

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