Spire Inc (SR) Q4 2024 Earnings Call Highlights: Strong Earnings Growth and Strategic Investments

GuruFocus.com11-21 15:03

Adjusted Earnings Per Share: $4.13, an increase of $0.08 per share compared to the previous year. Annual Dividend Increase: 4%, bringing the annualized rate to $3.14 per share. Capital Expenditure: $...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSpire Inc (SR) Q4 2024 Earnings Call Highlights: Strong Earnings Growth and Strategic Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-21 15:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/spire-inc-sr-q4-2024-070325585.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Adjusted Earnings Per Share: $4.13, an increase of $0.08 per share compared to the previous year.\nAnnual Dividend Increase: 4%, bringing the annualized rate to $3.14 per share.\nCapital Expenditure: $...</p>\n\n<a href=\"https://finance.yahoo.com/news/spire-inc-sr-q4-2024-070325585.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SR","symbol_name":"SPIRE","start_time":0,"source_url":"https://finance.yahoo.com/news/spire-inc-sr-q4-2024-070325585.html","article_id":"2485701437","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Ng7E97Yen7mU.8H.f3qhMA--~B/aD0zNDU7dz0zNDU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/a61cdef22be6e0fbc756553e26d6a72f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485701437","pubTimestamp":1732172605,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Adjusted Earnings Per Share: $4.13, an increase of $0.08 per share compared to the previous year.Annual Dividend Increase: 4%, bringing the annualized rate to $3.14 per share.Capital Expenditure: $861 million invested in fiscal 2024, with over 80% in the gas utility segment.Advanced Meters Investment: $184 million in FY24, with 350,000 advanced meters installed.Fiscal 2025 Capital Plan: $790 million planned investment, focusing on reliability and new service connections.10-Year Capital Expenditure Plan: Increased to $7.4 billion, with 98% allocated to gas utilities.Gas Utilities Earnings: $221 million, up 10% from the previous year.Midstream Earnings: $34 million, an increase of $19 million.Gas Marketing Earnings: $23 million, slightly above initial expectations but below the previous year.Fiscal 2025 Earnings Guidance: $4.40 to $4.60 per share.Run Rate O&M Expenses: 3% lower compared to the prior year, with expectations to remain flat in FY25.Missouri Infrastructure Rider Revenue: $53","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SR":"SPIRE"},"translate_title":"Spire Inc(SR)2024年第四季度盈利看涨期权亮点：强劲的盈利增长和战略投资","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SR":1},"content_text":"Adjusted Earnings Per Share: $4.13, an increase of $0.08 per share compared to the previous year.\nAnnual Dividend Increase: 4%, bringing the annualized rate to $3.14 per share.\nCapital Expenditure: $861 million invested in fiscal 2024, with over 80% in the gas utility segment.\nAdvanced Meters Investment: $184 million in FY24, with 350,000 advanced meters installed.\nFiscal 2025 Capital Plan: $790 million planned investment, focusing on reliability and new service connections.\n10-Year Capital Expenditure Plan: Increased to $7.4 billion, with 98% allocated to gas utilities.\nGas Utilities Earnings: $221 million, up 10% from the previous year.\nMidstream Earnings: $34 million, an increase of $19 million.\nGas Marketing Earnings: $23 million, slightly above initial expectations but below the previous year.\nFiscal 2025 Earnings Guidance: $4.40 to $4.60 per share.\nRun Rate O&M Expenses: 3% lower compared to the prior year, with expectations to remain flat in FY25.\nMissouri Infrastructure Rider Revenue: $53.6 million annualized rate after a $16.7 million increase.\n\n\nWarning! GuruFocus has detected 10 Warning Signs with SR.\n\nRelease Date: November 20, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nSpire Inc (NYSE:SR) reported fiscal 2024 adjusted earnings of $4.13 per share, an increase of $0.08 per share compared to the previous year.\nThe company announced a 4% increase in its common dividend, marking the 22nd consecutive year of dividend increases.\nSpire Inc (NYSE:SR) invested $861 million in fiscal 2024 to enhance safety and reliability, with over 80% of this investment directed towards the gas utility segment.\nThe company has launched a 10-year capital expenditure plan totaling $7.4 billion, with a focus on modernizing infrastructure.\nSpire Inc (NYSE:SR) achieved a 3% reduction in run rate O&M expenses in fiscal 2024 compared to the prior year, reflecting successful cost management initiatives.\n\n Negative Points \n\nFourth quarter results were below expectations due to headwinds from natural gas market fundamentals and higher corporate expenses.\nThe gas marketing segment experienced lower earnings due to weak market conditions and lower basis volatility.\nSpire Inc (NYSE:SR) is currently under-earning in Missouri, necessitating a rate case filing to address cost recovery and return on equity.\nInterest expenses were slightly higher than anticipated, impacting overall financial performance.\nThe company faces challenges in achieving consistent financial results due to market volatility and regulatory uncertainties.\n\n Q & A Highlights \nQ: Can you provide more details on the 2025 segment drivers, particularly for midstream and marketing? Is this the new baseline going forward? A: Steven Rasche, CFO, explained that the marketing segment follows an organic growth strategy, and while they aim to capitalize on market opportunities, the baseline remains consistent with previous years. For midstream, the company has better clarity on business growth due to recent expansions and contracts, suggesting a step-up from previous guidance.\nQ: Regarding the Missouri rate case, how does it impact your growth target of 5% to 7%? Do you need an uplift in authorized ROE? A: Adam Woodard, Vice President and Treasurer, stated that the focus is on straightforward cost of service recovery. The company is under-earning in Missouri, and achieving a reasonable outcome in the rate case should help return to the growth target range without needing an uplift in authorized ROE.\nQ: Does the 2025 outlook assume normal weather across utilities, and how has weather been trending since the fiscal year started? A: Adam Woodard confirmed that the 2025 outlook assumes normalized weather. The fall started warmer than normal, but the company is focused on fine-tuning the weather normalization mechanism for better recovery.\nQ: What are your assumptions for interest rates in your guidance relative to 2024 levels? A: Adam Woodard mentioned that they expect two to three more short-term rate cuts by the end of next year. For long-term rates, the company is comfortable with current levels and does not anticipate significant changes in the next 12 months.\nQ: Can you discuss the impact of utility-focused bills in Missouri on your rate case filing or any related asks? A: Scott Doyle, COO, stated that the legislative session will not impact the timing or approach to the rate case. The focus is on clarifying future test year availability for gas utilities, building on progress from previous legislation.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485701437"}