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ST. LOUIS - Spire Inc. (NYSE:SR) reported fiscal second quarter earnings that fell short of analyst expectations, while reaffirming its full-year outlook on Wednesday.
The company’s stock was down -0.06% in premarket trading following the earnings release.
The natural gas utility posted adjusted earnings of $3.60 per share for the quarter ended March 31, missing the consensus estimate of $3.65 per share. Revenue came in at $1.05 billion, below analysts’ projections of $1.23 billion.
Despite the earnings miss, Spire reaffirmed its fiscal 2025 adjusted earnings guidance range of $4.40 to $4.60 per share, in line with the $4.50 consensus estimate.
"Our solid second quarter results reflect our continued commitment to operational excellence and disciplined execution of our strategy," said Scott Doyle, president and CEO of Spire. "We remain focused on safely delivering reliable energy to our customers while advancing key infrastructure investments enhancing our growth profile."
The company’s Gas Utility segment saw adjusted earnings rise to $195.2 million from $188.0 million a year ago, driven by higher rates and increased usage at Spire Missouri. This was partially offset by higher depreciation expense.
The company continues to expect 5-7% long-term adjusted EPS growth, supported by 7-8% annualized rate base growth at Spire Missouri. Spire also increased its fiscal 2025 capital expenditure target from $790 million to $840 million.
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