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.
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