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 February 2 to discuss its fiscal 2022 first quarter results, with the earnings release available prior to the market opening. The call is set for 8:00 a.m. CT (9:00 a.m. ET) and can be accessed by dialing specified numbers. A replay of the call and webcast will be available post-event until March 2, 2022. Spire serves approximately 1.7 million homes and businesses across Alabama, Mississippi, and Missouri, positioning itself as the fifth largest publicly traded natural gas company in the U.S.
The Federal Energy Regulatory Commission (FERC) granted a temporary emergency certificate on December 3, allowing the Spire STL Pipeline to continue operations as it awaits a comprehensive review. This measure aims to prevent potential gas supply disruptions for over 650,000 homes and businesses in the St. Louis region during winter. The certificate follows a court ruling that vacated the pipeline's original authorization. Spire STL Pipeline asserts its importance for regional energy reliability and is committed to working with FERC for long-term approval.
Spire Inc. (NYSE: SR) announced its fiscal 2021 fourth quarter results, reporting a narrower net loss of $9.9 million ($0.26 per share) compared to a loss of $19.7 million ($0.45 per share) in 2020. Net Economic Earnings (NEE) for the quarter were also improved at $13.1 million ($0.32 per share) from $15.3 million ($0.37 per share) in the previous year. The company launched fiscal 2022 NEE guidance at $3.70 - $4.00 and set a five-year capital expenditure target of $3.1 billion. Challenges include recent Missouri regulatory orders affecting operations and the Spire STL Pipeline's temporary operating status.
Spire Inc. (NYSE: SR) will hold a conference call on November 22 to discuss its fiscal 2021 fourth quarter and full-year results. The earnings press release will be available before market opening that day. The conference call starts at 10:00 a.m. CT and will be accessible through a U.S. and international dial-in. A replay will be available following the call until December 23, 2021, through designated phone numbers. Spire provides natural gas services to 1.7 million customers across Alabama, Mississippi, and Missouri.
Spire Inc. (NYSE: SR) announced a dividend increase from $0.65 to $0.685 per share, reflecting a 5.4% annual increase to an annualized rate of $2.74. This change demonstrates the company's robust financial standing and ongoing commitment to delivering shareholder value. The dividend is payable on January 4, 2022, to shareholders recorded by December 10, 2021. Spire has maintained a continuous dividend payment since 1946, marking 2022 as its 19th consecutive year of dividend increases.
The board of directors of Spire (NYSE: SR) has expanded to 10 members with the election of Carrie J. Hightman, effective November 11, 2021. Hightman, previously executive vice president and chief legal officer at NiSource, brings over 30 years of experience in regulated industries, enhancing Spire's strategic leadership. Her background includes roles in gas operations and regulatory strategy. Spire operates as the fifth largest publicly traded natural gas company in the U.S., serving 1.7 million homes and businesses in Alabama, Mississippi, and Missouri.
Spire Inc. (NYSE: SR) will participate in the Sidoti Fall Virtual Investor Conference on September 22, 2021. The company will present at 12:15 p.m. ET and host one-on-one meetings with investors. Participation is free and does not require being a Sidoti client. Interested investors can register here. Spire serves 1.7 million homes and businesses across Alabama, Mississippi, and Missouri, making it the fifth-largest publicly traded natural gas company in the U.S. More information on their investor presentation is available on their website.
Spire STL Pipeline received a 90-day temporary certificate from FERC, allowing continued operation ahead of winter. This certification aims to prevent energy supply disruptions in the St. Louis region, crucial for over 650,000 homes and businesses. The authorization follows a July application by Spire, responding to a June ruling that vacated prior approvals. The company expressed commitment to work with all stakeholders to ensure energy security during extreme weather. The FERC will conduct a comprehensive evaluation of the pipeline's certificate later.
Spire Inc. (NYSE: SR) reported a net income of $5.3 million for Q3 2021, a significant recovery from a $92.3 million loss a year prior. Net economic earnings (NEE) were $6.9 million, slightly down from $7.3 million last year. The company reaffirmed FY 2021 NEE guidance of $4.30 - $4.50 per share and a capital expenditure outlook of $590 million. A federal court ruling jeopardizes the STL Pipeline, critical for gas service to 650,000 customers in eastern Missouri. Legal actions are underway to ensure its continued operation.
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