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) will host a conference call on August 4 at 12:00 p.m. CT to discuss its fiscal 2022 third quarter results. Earnings will be released prior to market opening and available on their website. The call will be accessible via phone or webcast for the media and public, with a replay option from 2 p.m. CT on the same day until September 6, 2022. Spire serves 1.7 million homes and businesses, making it the fifth largest publicly traded natural gas company in the U.S.
Spire Marketing, a subsidiary of Spire (NYSE: SR), has finalized a multi-year agreement with Ascent Resources to purchase responsibly sourced gas (RSG). This marks the first RSG transaction for Spire Marketing, responding to increasing client demand for sustainable energy solutions. The contract supports Spire's commitment to sustainability and enhances its portfolio for over 120,000 clients across North America. Ascent, a major natural gas producer, emphasizes environmentally responsible operations, ensuring affordable and clean gas delivery.
Spire and Ameren Missouri have launched the Pay As You Save (PAYS®) program, enabling Missouri customers to make energy-efficiency upgrades with little or no upfront costs. Customers can sign up for free home energy assessments, leading to customized plans for upgrades like furnaces and insulation. Costs are covered mostly by Spire and Ameren Missouri, repaid through fixed monthly charges on utility bills. The program aims to lower annual energy expenses and increase home comfort without credit checks.
Spire and Evergy have launched the Pay As You Save® (PAYS) program in Missouri, enabling customers to make energy-efficiency upgrades with minimal upfront costs. This collaboration allows for upgrades like air conditioners and insulation, financed through fixed monthly utility charges. Customers can benefit from a free energy assessment to identify cost-effective improvements. The program aims to lower utility bills while enhancing energy efficiency. Notably, this is the first joint offering between Spire and Evergy, expanding access to energy-saving strategies for customers.
Spire Inc. (NYSE: SR) will present at the 2022 American Gas Association (AGA) Financial Forum on May 18, 2022, at 1:50 p.m. Eastern time. The live webcast and presentation materials will be available at Investors.SpireEnergy.com and archived for later access. Spire serves 1.7 million homes and businesses, making it the fifth largest publicly traded natural gas company in the U.S., operating in Alabama, Mississippi, and Missouri with various business lines including Spire Marketing and Spire STL Pipeline.
Spire Inc. (NYSE: SR) reported its fiscal 2022 second quarter results, showing net income of $173.6 million ($3.27 per diluted share), down from $187.4 million ($3.55 per share) last year. Net economic earnings (NEE) for the quarter were $181.0 million ($3.42 per share), a drop from $195.6 million ($3.71 per share). The company's earnings guidance for fiscal 2022 has been narrowed to $3.75 - $3.95 per share. The Gas Utility segment performed better, with NEE increasing to $169.2 million, driven by new rates despite warmer weather.
Spire has made a significant donation of $100,000 to support the Healthy Homes Program initiated by Children's Mercy Kansas City, the program's first corporate donor. This grant will enable the program to expand its reach, targeting families facing chronic health issues related to poor home conditions. The initiative aims to address health problems linked to housing, benefiting approximately 90 homes over the next three years and potentially securing an additional $1 million in federal funding.
Spire Inc. (NYSE: SR) will hold a conference call on May 6, 2022, at 10:00 a.m. CT to discuss its fiscal 2022 Q2 results. The earnings news release will precede the call, available on the company's website. Investors and the public can access the call via phone or listen online. A replay will be available until June 6, 2022. Spire serves 1.7 million customers across Alabama, Mississippi, and Missouri, positioning itself as the fifth largest public natural gas company in the U.S.
Spire Inc. (NYSE: SR) reported fiscal 2022 first quarter results, revealing a net income of $55.7 million ($1.01 per diluted share), down from $88.9 million ($1.65 per share) year-over-year. Net economic earnings fell to $62.6 million ($1.14 per share) due to warm weather and rising expenses. The Spire STL Pipeline secured a temporary operation certificate. Despite challenges, earnings guidance for 2022 remains unchanged at $3.70 - $4.00 per share. The company plans $3.1 billion in capital investments over five years to support growth.
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