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 (NYSE: SR) has joined the ONE Future Coalition, a collective of 37 energy companies aimed at reducing methane emissions to 1% or less by 2025. The company aims for carbon neutrality by midcentury, having reduced methane emissions by over 39% since 2005, with projections of nearly 54% by 2025. Spire appointed its first Head of Environmental Commitment, strengthening its sustainability initiatives. This partnership will help Spire measure its environmental impact and strategies, fostering collaboration in reducing emissions across the natural gas industry.
Spire has announced the appointment of Nick Popielski as its first Head of Environmental Commitment on February 1, 2021. This position aims to enhance the company's environmental strategies, including achieving carbon neutrality by 2050. In the previous year, Spire saw a 19.2% reduction in methane emissions through infrastructure upgrades and has already reduced emissions by over 39% since 2005, targeting a 54% reduction by 2025. The company received accolades, being named one of America's Most Responsible Companies by Newsweek for two consecutive years.
Spire Inc. (NYSE: SR) will hold a conference call on February 4, 2021, at 8:00 a.m. CT to discuss its fiscal 2021 Q1 financial results. The earnings news release will be available prior to the market opening that day on their website. Investors can access the call via a dial-in number or listen to a webcast on Spire's investor site. A replay will be available after the call until March 5, 2021. Spire serves approximately 1.7 million customers across several states, focusing on organic growth and infrastructure investment.
On November 18, 2020, Spire Inc. (NYSE: SR) announced an increase in its quarterly common stock dividend from $0.6225 to $0.65 per share, marking the 18th consecutive year of annual dividend increases. This $0.11 increase brings the annualized dividend to $2.60 per share. The dividend will be payable on January 5, 2021, to shareholders of record by December 11, 2020. The board also declared a regular quarterly dividend of $0.36875 per depositary share on its Series A Preferred Stock, payable on February 15, 2021.
Spire Inc. (NYSE: SR) reported a net income of $88.6 million ($1.44 per diluted share) for fiscal 2020, a decrease from $184.6 million ($3.52 per share) in 2019, largely due to impairment charges. However, net economic earnings rose to $207.8 million ($3.76 per share), driven by strong performance in the Gas Utility segment. The company aims for long-term NEE per share growth of 5-7% and projects fiscal 2021 NEE per share between $4.00 and $4.20. Capital expenditures will increase to $590 million for fiscal 2021, focusing on infrastructure upgrades and sustainability initiatives.
Spire Inc. (NYSE: SR) will hold a conference call on November 18, 2020, to discuss its fiscal 2020 results, with the earnings release available before market open. The call starts at 8:00 a.m. CT and can be accessed via dial-in or webcast. A replay will be available post-call until December 18, 2020. Spire serves 1.8 million homes and businesses across Alabama, Mississippi, and Missouri, making it the fifth largest publicly traded natural gas company in the U.S. The company emphasizes its commitment to innovation and infrastructure investment.
Spire Inc. (NYSE: SR) reported a net loss of $92.3 million, or $1.87 per diluted share, for the third quarter of fiscal 2020, significantly higher than the $3.0 million loss a year ago. The loss includes non-cash impairment charges of $148.6 million. Net Economic Earnings (NEE) were $7.3 million, matching the previous year. The company anticipates NEE per share between $3.70 and $3.75 for FY2020, influenced by COVID-19 effects estimated at $0.09 per share. Positive results stem from its Gas Utility segment, which recorded increased contributions from higher ISRS revenues and operational enhancements.
Spire has announced its commitment to achieving carbon neutrality by midcentury and reducing methane emissions by 53% by 2025. This positions Spire as a leader among US natural gas companies in environmental responsibility. Since 2005, the company has already reduced methane emissions by 39% and plans further reductions through its participation in the EPA's Natural Gas STAR Methane Challenge program. In fiscal year 2019, Spire invested $287 million in infrastructure upgrades, resulting in a 21% reduction in leaks. The focus on sustainability is detailed in their Corporate Social Responsibility report.
Spire Inc. (NYSE: SR) will hold a conference call on August 5 to discuss its fiscal 2020 Q3 financial results. The earnings release will be issued before market opening and available on the Investor website. The call is set for 11:00 a.m. CT and will be accessible via phone and webcast. A replay will be available post-call until September 4, 2020.
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