Welcome to our dedicated page for Spire news (Ticker: SR), a resource for investors and traders seeking the latest updates and insights on Spire stock.
Spire Inc. (NYSE: SR) is a leading public utility holding company headquartered in St. Louis, Missouri. As one of the largest publicly traded natural gas companies in the United States, Spire serves approximately 1.7 million homes and businesses across Alabama, Mississippi, and Missouri through its regulated gas utilities. The company operates through three primary segments: Gas Utility, Gas Marketing, and Midstream.
Spire's Gas Utility segment focuses on the purchase, retail, distribution, and sale of natural gas. It includes the regulated operations of Laclede Gas, Alabama Gas Corporation (Alagasco), and EnergySouth Inc. This segment generates the majority of the company's revenue, although it faces seasonal fluctuations. The Gas Marketing segment, represented by Laclede Energy Resources, Inc., markets natural gas on a non-regulated basis and engages in related activities, while the Midstream segment handles the transportation and storage of natural gas.
Spire recently announced several key developments. Effective October 1, 2023, Steven L. Lindsey has been appointed as the President and Chief Executive Officer, succeeding Suzanne Sitherwood, who will retire at the end of December 2023. The company has also completed the acquisition of MoGas Pipeline and Omega Pipeline, enhancing its midstream capabilities and extending its service territory.
Financially, Spire has reported solid performance. For fiscal 2023, net income was $217.5 million, with a notable contribution from Gas Marketing driven by favorable market conditions. The fiscal 2024 guidance indicates continued positive outlooks with expected NEE per share between $4.25 and $4.45 and a long-term growth target of 5-7%.
Spire is committed to investing in infrastructure and advancing through innovation. By focusing on delivering reliable, affordable, and safe energy, Spire aims to enhance customer service and shareholder value. The company's ongoing projects include a robust capital investment plan projected to reach $7.3 billion by fiscal 2033, aimed at infrastructure upgrades and expansion of new business ventures within the gas utilities segment.
For more detailed financial results and future projections, visit the Investor Relations section on Spire's website.
Spire Inc. (NYSE: SR) announced a 4.0% increase in its annual common stock dividend to $3.14 per share from $3.02 per share, raising the quarterly rate to $0.785. The dividend is payable on January 3, 2025, to shareholders of record on December 11, 2024. This marks Spire's 22nd consecutive year of dividend increases, with continuous cash dividend payments since 1946. Additionally, the company declared a quarterly dividend of $0.36875 per depositary share on its 5.90% Series A Preferred Stock, payable February 17, 2025.
Spire Inc. (NYSE: SR) has announced its fiscal 2024 fourth quarter and year-end earnings conference call, scheduled for Wednesday, Nov. 20 at 8 a.m. CT (9 a.m. ET). The company will discuss financial results, earnings guidance, and other matters. A news release will be issued before market open on the same day. Interested parties can access the call via phone (U.S. and Canada: 844-824-3832, International: 412-317-5142) or listen to the webcast at Investors.SpireEnergy.com.
A replay will be available until Nov. 27, 2024. Spire Inc. is one of the largest publicly traded natural gas companies in the U.S., serving 1.7 million homes and businesses through its utilities in Alabama, Mississippi, and Missouri. The company also operates Spire Marketing and Spire Midstream, focusing on organic growth, infrastructure investment, and innovation.
Spire Inc. (NYSE: SR) reported its fiscal 2024 third quarter results, showing improvement across all segments. Key highlights include:
- Net loss of $12.6 million, or ($0.28) per diluted share, compared to a loss of $21.6 million, or ($0.48) per share a year ago
- Net economic earnings (NEE) loss of $4.3 million, or ($0.14) per share, compared to a loss of $18.6 million, or ($0.42) per share last year
- Fiscal 2024 NEE guidance lowered to $4.15–$4.25 per share from $4.25–$4.45
The company launched a customer affordability initiative to lower costs and improve efficiency, with benefits expected in 2025 and 2026. Despite improvements, Spire lowered its guidance due to lower Spire Missouri margin and higher interest costs earlier in the year.
Spire Inc. (NYSE: SR) has declared a quarterly common stock dividend of $0.755 per share, payable on October 2, 2024, to shareholders of record on September 11, 2024. This marks the company's 21st consecutive year of increasing its common stock dividend on an annualized basis, with a continuous cash dividend payment history since 1946. Additionally, Spire declared a regular quarterly dividend of $0.36875 per depositary share on its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, payable November 15, 2024, to holders of record on October 25, 2024.
Spire is one of the largest publicly traded natural gas companies in the United States, serving 1.7 million homes and businesses through its gas utilities in Alabama, Mississippi, and Missouri. The company also operates Spire Marketing and Spire Midstream, focusing on growth, infrastructure investment, and innovation.
Spire Inc. (NYSE: SR) will host a conference call and webcast on Wednesday, July 31, to discuss its fiscal 2024 third quarter results. The announcement will be made available before the market opens that day on Investors.SpireEnergy.com. The call, starting at 8 a.m. CT (9 a.m. ET), can be accessed by dialing 844-824-3832 (U.S. and Canada) or 412-317-5142 (international). The conference will also be webcast in a listen-only format. A replay will be available from 10 a.m. CT (11 a.m. ET) on July 31 until August 31, 2024, by dialing 877-344-7529 (U.S.), 855-669-9658 (Canada), or 412-317-0088 (international) with access code 2598655. Spire serves 1.7 million homes and businesses, making it one of the largest publicly traded natural gas companies in the U.S.
Spire released its annual Sustainability Report, highlighting progress in reducing emissions, supporting communities, and enhancing governance. Key achievements include a 4.7% reduction in greenhouse gas emissions, replacement of 173 miles of aging infrastructure, and an 8% reduction in motor vehicle accident rates. Spire has connected customers with $33 million in energy assistance and donated over $6.2 million to community support. The company has also increased its racially diverse workforce by 4% and introduced a parental leave policy. Governance improvements include appointing three new board directors and establishing a Sustainability Council.
Spire Inc. (NYSE: SR) reported its fiscal 2024 second-quarter results showing net income of $204.3 million ($3.58 per share), reaffirmed earnings guidance, and continued focus on growth and operational excellence. Gas Utility earnings grew, while Gas Marketing and Midstream earnings were solid despite the absence of favorable market conditions from the prior year.
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