Spire Inc ( (SR) ) has released its Q4 earnings. Here is a breakdown of the information Spire Inc presented to its investors.
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Spire Inc., one of the largest publicly traded natural gas companies in the United States, provides natural gas services to homes and businesses across Alabama, Mississippi, and Missouri. The company is committed to capital-driven growth and operational efficiency in the energy sector.
In its fiscal 2024 earnings report, Spire Inc. announced a net income of $250.9 million, translating to $4.19 per share, which marks an increase from the previous year’s $217.5 million or $3.85 per share. The company also affirmed its long-term growth target and issued fiscal 2025 earnings guidance.
Key performance metrics for fiscal 2024 include adjusted earnings of $247.4 million, up from $228.1 million in fiscal 2023. The gas utility segment saw an increase in adjusted earnings due to new rates and reduced expenses, while the midstream segment benefited from increased storage capacity and acquisitions. However, the gas marketing segment experienced a decline in earnings compared to last year.
Looking ahead, Spire Inc. maintains a positive outlook, with a projected adjusted earnings per share growth target of 5-7% and expectations for continued capital investment, primarily in infrastructure upgrades. The company has set a 10-year capital investment target of $7.4 billion, signaling a strong focus on future growth and stability in the energy market.
