Q1 2025 Spire Inc Earnings Call Transcript
Key Points
- Spire Inc (SR) reported adjusted earnings of $1.34 per share, reflecting growth in gas utility and midstream segments.
- The company is reaffirming its long-term EPS growth target of 5% to 7% and fiscal 2025 earnings guidance of $4.40 to $4.60 per share.
- Spire Inc (SR) plans to invest $790 million in fiscal 2025, focusing on reliability system modernization and new service connections.
- The company's 10-year CapEx plan remains at $7.4 billion, with 98% targeted at utility growth.
- Spire Inc (SR) is committed to maintaining flat O&M expenses relative to fiscal 2024 levels, demonstrating effective cost management.
- Adjusted earnings per share decreased from $1.47 a year ago to $1.34, indicating a decline in profitability.
- Lower earnings were reported in the gas marketing segment due to reduced market volatility and higher transportation and storage fees.
- Spire Missouri experienced lower usage, resulting in a $3.4 million decrease in volumetric margins.
- The company faced warmer-than-normal weather in Missouri and Alabama, impacting residential customer usage and margins.
- Higher corporate costs were noted due to the absence of a $6.3 million after-tax benefit from an interest rate hedge settlement in the prior year.
Good morning and welcome to Spire's fiscal 2025 first-quarter earnings call. All participants will be on listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Megan McPhail, Managing Director-Investor Relations. Please go ahead.
Good morning and welcome to Spire's fiscal 2025 first quarter earnings call. We issued an earnings news release this morning. You may access it on our website at spireenergy.com under Newsroom. There's a slide presentation that accompanies our webcast which can be downloaded from our website under Investors and then Events & Presentations.
Before we begin, let me cover our Safe Harbor statement and use of Non-GAAP earnings measures. Today's call, including responses to questions, may contain forward-looking statements within the meaning of the Private Securities Litigation
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