NYSE$SR
Spire Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Spire reported mixed results for Q3 2024, with improved segment performance offset by lowered full-year guidance.
Spire Inc. reported a net loss of $12.6 million for the third quarter of fiscal year 2024, an improvement compared to the previous year's net loss of $21.6 million. The company's net economic loss was $4.3 million, also an improvement from the prior year. However, Spire lowered its fiscal 2024 net economic earnings guidance range to $4.15–$4.25 per share.
- Net loss improved to $12.6 million from $21.6 million year-over-year.
- Net economic loss improved to $4.3 million from $18.6 million year-over-year.
- Gas Utility earnings benefitted from new rates, offsetting higher expenses.
- Fiscal year 2024 net economic earnings guidance lowered to $4.15–$4.25 per share.
Headline financials
Revenue & EPS history
Spire · Revenue · Quarterly
$414M
Revenue by segment
Spire · -$37.6M total across 4 segments · Q4 2023
- Gas Marketing$2.6M+1097409.5%-6.9%
- Midstream$2.5M—-6.6%
- Other-$8.7M—23.1%
- Gas Utility-$34M-20568763.0%90.4%
Forward guidance
Spire lowered its fiscal 2024 NEE guidance range to $4.15–$4.25 per share. The company anticipates benefits from a customer affordability initiative to be realized in 2025 and 2026. Expected capital expenditures for fiscal 2024 has increased from $800 million to $830 million driven by increased deployment of advanced meters.
Tailwinds
- Long-term NEE per share growth of 5–7% driven by expected 7–8% annual utility rate base growth.
- Robust capital investment plan.
- Customer affordability initiative expected to lower overall costs and improve operational efficiency.
- Increased deployment of advanced meters.
- 10-year $7.3 billion capital investment target through fiscal 2033 due to increasing investment in infrastructure upgrades and new business in the Gas Utility segment.
Headwinds
- Lowered fiscal 2024 NEE guidance range to $4.15–$4.25 per share from $4.25–$4.45 per share.
- Impacts of lower than expected Spire Missouri margin.
- Higher interest expense.
- Higher bad debt expense.
- Warm winter weather impacted results
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 Q3 2024
+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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