Spire reports Q3 NEE (14c), consensus (16c)

Reports Q3 revenue $414.1M vs. $418.5M last year. “Our results improved for the third quarter across all segments, and we maintained strong operational performance,” said CEO Steve Lindsey. “This quarter, we launched a customer affordability initiative expected to lower our overall costs and improve operational efficiency, with realized benefits anticipated in 2025 and 2026. We will see some uplift in the last three months of this fiscal year, but not enough to offset the impacts of lower than expected Spire Missouri margin and higher interest that we saw earlier this year. As a result, we are lowering our net economic earnings guidance for fiscal 2024 to $4.15-$4.25 per share. We remain confident in our ability to grow our business and serve our customers and communities with safe, reliable and affordable energy.”