NYSE$SR
Spire Inc. · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Spire's financial performance decreased in Q2 2020, impacted by warmer weather and other factors.
Spire Inc. reported a decrease in net income for the second quarter ended March 31, 2020, with 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 also decreased to $144.0 million ($2.75 per share) from $147.9 million ($2.90 per share) a year ago, primarily due to warmer weather impacting margins. The company increased its FY20 capital expenditures plan to $640 million and launched a 5-year capital plan through 2024 totaling $2.8 billion.
- Net income decreased to $133.6 million ($2.54 per diluted share) from $154.6 million ($3.04 per share) in the prior year.
- Net economic earnings decreased to $144.0 million ($2.75 per share) from $147.9 million ($2.90 per share) a year ago, reflecting warmer than normal weather.
- FY20 capital expenditures plan increased to $640 million, with a 5-year capital plan through 2024 totaling $2.8 billion.
- Proactive steps were taken to address the coronavirus health crisis and its economic impact on customers, including suspending service disconnections and late payment fees.
Headline financials
Revenue & EPS history
Spire · Revenue · Quarterly
$716M
Revenue by segment
Spire · $727M total across 3 segments · Q2 2020
- Gas Utility$679M—93.4%
- Gas Marketing$33.3M—4.6%
- Other$14.7M—2.0%
Forward guidance
Spire has updated its 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.
Tailwinds
- Updated fiscal 2020 capital investment increased by $30 million to $640 million.
- $560 million earmarked for gas utilities and $80 million for gas-related businesses.
- Updated 5-year capital expenditure plan includes 2024, with total investment expected to be $2.8 billion.
- Utility rate base growth of 7-8 percent expected over the 5-year period.
- Annual long-term NEE per share growth target of 4-7 percent is affirmed.
Headwinds
- Fiscal 2020 earnings guidance not provided due to uncertainty over the resolution of ISRS cases in Missouri.
- Potential impact from the coronavirus, including higher costs, lower demand, and economic slowdown, could adversely impact the remainder of calendar 2020.
- Monitoring potential impacts of the coronavirus, including lower demand and fees and higher bad debts and other operating costs.
- Pursuing operational efficiencies and potential regulatory mechanisms to offset the impacts of the coronavirus.
- Financial impact from the coronavirus is anticipated for the remainder of calendar 2020.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
+0.2%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.2%
Avg return
30 days after
55%
38 / 69 earnings
Positive
+4.6%
Q1 2021
Best reaction
-3.8%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.3% | -4.6% | -8.4% | |
| Q1 2026 | -0.5% | +0.9% | +6.7% | |
| Q4 2025 | -1.7% | -4.5% | -6.6% | |
| Q2 2025 | -0.7% | -1.3% | -2.3% | |
| Q1 2025 | +0.2% | +1.2% | +7.7% | |
| Q4 2024 | +4.0% | +8.0% | -1.8% | |
| Q3 2024 | -1.9% | -5.4% | -2.4% | |
| Q2 2024 | -0.2% | -1.0% | -0.8% | |
| Q1 2024 | +3.9% | +2.1% | +5.0% | |
| Q4 2023 | +2.4% | -0.3% | +5.0% | |
| Q3 2023 | -2.2% | -2.0% | -5.4% | |
| Q2 2023 | +2.6% | +2.5% | -1.7% | |
| Q1 2023 | +3.2% | +4.1% | -3.1% | |
| Q4 2022 | -2.0% | +3.5% | -6.0% | |
| Q3 2022 | -1.9% | +1.4% | -6.4% | |
| Q2 2022 | +2.8% | +0.8% | +5.6% | |
| Q1 2022 | -2.5% | -4.0% | +6.8% | |
| Q4 2021 | +1.7% | -0.2% | +4.0% | |
| Q3 2021 | -0.5% | -1.8% | -9.3% | |
| Q2 2021 | +1.2% | -3.2% | -5.7% | |
| Q1 2021 | +4.6% | +3.2% | +13.9% | |
| Q4 2020 | -1.8% | -0.3% | -0.5% | |
| Q3 2020 | -2.2% | +0.5% | -7.4% | |
| Q2 2020 | +0.7% | -3.6% | +4.9% | |
| Q1 2020 | +1.6% | +1.8% | -4.1% | |
| Q4 2019 | +0.9% | +0.4% | +7.0% | |
| Q3 2019 | -3.8% | -4.7% | -1.3% | |
| Q2 2019 | +0.4% | +1.3% | -1.0% | |
| Q1 2019 | -0.9% | -2.0% | +0.5% | |
| Q4 2018 | +3.9% | +4.7% | +4.5% | |
| Q3 2018 | +1.3% | +4.7% | +5.1% | |
| Q2 2018 | -0.1% | -2.0% | -3.0% | |
| Q1 2018 | -2.8% | -7.8% | +1.8% | |
| Q4 2017 | +0.2% | -0.5% | -2.0% | |
| Q3 2017 | +2.0% | +2.6% | +5.0% | |
| Q2 2017 | +0.7% | +2.6% | +6.0% | |
| Q1 2017 | -2.6% | -3.5% | +1.5% | |
| Q4 2016 | +1.4% | +2.5% | +0.7% | |
| Q3 2016 | -0.7% | -1.4% | -5.8% | |
| Q2 2016 | +1.4% | — | — | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | +1.8% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | +1.2% | — | — | |
| Q4 2014 | +0.8% | — | — | |
| Q3 2014 | -0.4% | — | — | |
| Q2 2014 | +0.2% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | -0.5% | — | — | |
| Q4 2012 | -0.8% | — | — | |
| Q3 2012 | -0.5% | — | — | |
| Q2 2012 | -0.3% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q4 2011 | -3.0% | — | — | |
| Q3 2011 | +2.5% | — | — | |
| Q2 2011 | +1.2% | — | — | |
| Q1 2010 | -3.7% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q4 2008 | +0.3% | — | — | |
| Q3 2009 | +1.1% | — | — | |
| Q3 2010 | +1.1% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q2 2009 | -0.8% | — | — | |
| Q2 2010 | -0.8% | — | — |
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