Spire Inc. Q2 Profit Misses Estimates

(RTTNews) - Spire Inc. (SR) announced a profit for second quarter that missed the Street estimates.

The company's earnings came in at $205.3 million, or $3.51 per share. This compares with $200.3 million, or $3.58 per share, last year.

Excluding items, Spire Inc. reported adjusted earnings of $214.4 million or $3.60 per share for the period.

Analysts on average had expected the company to earn $3.67 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 6.8% to $1.051 billion from $1.128 billion last year.

Spire Inc. earnings at a glance (GAAP) :

-Earnings: $205.3 Mln. vs. $200.3 Mln. last year. -EPS: $3.51 vs. $3.58 last year. -Revenue: $1.051 Bln vs. $1.128 Bln last year.

Looking ahead, for the full year, the company reaffirmed its earnings guidance. Spire still expects to report annual adjusted income per share of $4.40 to $4.60, in line with analysts’ forecast of $4.5 per share.

For fiscal 2025, the company has now increased its total capital expenditure outlook to $840 million from $790 million.

Further, Spire said: “We remain confident in our ability to grow long-term adjusted earnings per share 5–7% driven by an expected long-term 7–8% annualized rate base growth at Spire Missouri, reflecting our robust capital investment plan, and 6% equity growth at Spire Alabama and Spire Gulf. Our 10-year $7.4 billion capital investment target through fiscal 2034 is driven by investment in infrastructure upgrades and new business in the Gas Utility segment.”