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 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.
Spire Inc. (NYSE: SR) will host a conference call on August 5, 2021, at 11:00 a.m. CT to discuss its fiscal 2021 third quarter financial results. Earnings will be released prior to market opening on that day and available on their website under the News tab. The conference call will be accessible via a dial-in number or online webcast. A replay will be available starting 12 p.m. CT on August 6 and accessible until September 7, 2021.
Spire has published its third annual Corporate Social Responsibility (CSR) report, highlighting success in environmental, social, and governance metrics. The report showcases Spire's commitment to becoming carbon neutral by mid-century, with a target of a 57% reduction in methane emissions by 2025. The company's community support during the pandemic totaled $5.9 million, including financial aid and volunteer efforts. Additionally, Spire aims to enhance workforce diversity and reduce employee injuries. The full CSR report is available at spireenergy.com/csr.
Spire Inc. (NYSE: SR) reported a strong second quarter for fiscal 2021, with net income reaching $187.4 million ($3.55 per diluted share), up from $133.6 million ($2.54 per share) the previous year.
Net economic earnings (NEE) also increased to $195.6 million ($3.71 per share) from $144.0 million ($2.75 per share), driven largely by robust performance in Spire Marketing amid severe winter weather. The fiscal 2021 NEE guidance is now raised to between $4.30 and $4.50 per share.
The company maintains a solid capital structure and liquidity, while announcing a quarterly dividend of $0.65 per share.
Spire Inc. (NYSE: SR) announced a conference call on May 7, 2021 to discuss its fiscal 2021 Q2 financial results. The earnings news release will be issued before the market opens, available at Investors.SpireEnergy.com. The call will start at 8:00 a.m. CT (9:00 a.m. ET) and can be accessed via phone or webcast. A replay will be available from 10 a.m. CT that day until June 7, 2021. Spire serves 1.7 million customers across Alabama, Mississippi, and Missouri, positioning itself as the fifth largest publicly traded natural gas company in the U.S.
Origin Holdings has announced a $20,000 donation to Spire's DollarHelp program, which assists limited-income customers with energy bills. This contribution is made through Origin's LillieMon Foundation. Origin supports Spire, a consulting client, in initiatives that provide essential services to communities, particularly during the ongoing challenges of the Coronavirus pandemic. Spire's DollarHelp program, in operation since 1982, allows customers to contribute to helping others maintain access to affordable and reliable natural gas. This partnership underscores the commitment to community support in times of need.
Spire Inc. (NYSE: SR) announced the pricing of a public offering of 3.2 million equity units, totaling $160 million, up from 3.0 million units. Each unit, priced at $50, consists of a common stock purchase contract and a beneficial interest in a senior note due 2026. The offering will close on February 16, 2021. The annual distribution is set at 7.50%, and proceeds will be used for corporate purposes and to repay short-term debt, estimated at $154 million, increasing to $168.5 million if additional units are purchased.
Spire Inc. (NYSE: SR) announced a planned public offering of $150 million in equity units. Each unit, priced at $50, comprises a future common stock purchase contract and a 5% interest in a senior note due 2026. The company may offer an additional $15 million for overallotments. Proceeds are intended for general corporate purposes and to repay short-term debts. This move follows filing under an effective shelf registration statement with the SEC.
Spire Inc. (NYSE: SR) reported a strong fiscal Q1 2021, with net income rising to $88.9 million ($1.65 per diluted share), compared to $67.0 million ($1.24 per share) last year. Net economic earnings increased to $76.9 million ($1.42 per share) from $71.8 million ($1.33 per share), driven by higher Gas Utility earnings. Operating expenses fell by $5.6 million to $103.0 million. The company reaffirmed its long-term targets for earnings growth and capital expenditures of $3.0 billion through fiscal 2025. A quarterly dividend of $0.65 per share was declared for April 2021.
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