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Spire Inc., the natural gas distribution company with a market capitalization of $4.13 billion, announced today that its President and Chief Executive Officer, Steven L. Lindsey, will return to his duties on February 10, 2025, after a leave of absence for health-related reasons. Lindsey, who also serves as the Chief Executive Officer for Spire Alabama Inc. and Spire Missouri Inc., had temporarily stepped aside, during which time Scott E. Doyle, the company’s Executive Vice President and Chief Operating Officer, took over his responsibilities.
The company, which operates in the Energy & Transportation sector and has its principal executive offices in St. Louis, Missouri, filed this information in a Form 8-K with the Securities and Exchange Commission. The filing also confirmed that Doyle will continue in his current role as Executive Vice President and Chief Operating Officer following Lindsey’s return.
Spire Inc., formerly known as Laclede Group Inc (NYSE:SR)., and its subsidiaries, Spire Alabama Inc. (previously Alabama Gas Corp) and Spire Missouri Inc. (formerly Laclede Gas Co), are incorporated in Missouri and Alabama respectively. They are part of the natural gas distribution industry, classified under the Standard Industrial Classification code 4924.
The company’s common stock and depositary shares are listed on the New York Stock Exchange under the trading symbols SR and SR.PRA respectively. This executive transition comes as part of the company’s ongoing leadership and operational management. The stock is currently trading near its 52-week high, with investors anticipating the company’s upcoming earnings report on February 5, 2025. InvestingPro subscribers have access to 8 additional key insights about Spire’s financial health and market position through exclusive ProTips and comprehensive analysis.
The announcement made today is based on the latest press release statements and ensures continuity in Spire’s executive leadership as Lindsey resumes his executive functions next week. The company maintains strong profitability with a P/E ratio of 16.99, though InvestingPro analysis suggests the stock is currently trading above its Fair Value.
In other recent news, Spire Inc. has seen significant developments. The company’s President and CEO, Steven L. Lindsey, has resumed his duties following a health-related leave of absence. During his absence, responsibilities were managed by Executive Vice President and Chief Operating Officer Scott E. Doyle, who will continue in his role. Spire also reported fourth-quarter earnings that exceeded estimates and provided an adjusted EPS guidance for fiscal 2025 of $4.40 to $4.60, a figure notably higher than the current analyst consensus. This financial news was followed by Mizuho (NYSE:MFG) Securities upgrading Spire’s stock from Neutral to Outperform, based on an increased forecast for the company’s adjusted earnings per share for fiscal year 2026. At a recent shareholders’ meeting, Spire’s executive compensation was approved, directors were elected for a three-year term ending in 2028, and Deloitte & Touche LLP was appointed as the independent registered public accounting firm for the fiscal year 2025. Finally, Spire requested a net increase of $235.9 million in base rates for natural gas services from the Missouri Public Service Commission, aiming to address system investments and operating costs.
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