From RTTNews:

Gas utility Spire Inc. (SR) reported a decreased net loss available to common shareholders for the first quarter to $81.3 million or $1.52 per share, compared to $87.2 million or $1.66 per share in the prior year. Net economic earnings for the quarter was $1.47 per share, and total operating revenues decreased to $756.6 million.

Analysts expected the company to report earnings of $1.35 per share on revenues of $705.28 million. Spire projects net economic earnings for fiscal 2024 in the range of $4.25 to $4.45 per share, while analysts are looking for earnings of $4.34 per share for the year.

The company remains confident in its long-term ability to grow NEE per share by 5 to 7 percent, driven by expected 7 to 8 percent annual utility rate base growth, reflecting its robust capital investment plan. Its 10-year $7.2 billion capital investment target through fiscal 2033 is driven by increasing investment in infrastructure upgrades and new business in the Gas Utility segment.

Capital expenditures for fiscal 2024 are expected to remain $765 million, which includes $100 million for the Spire Storage West expansion.



Read more: Spire Q2 Results Top Estimates; Affirms FY24 Outlook