Exhibit 99.1

 

 

Investor Contact:

 

Scott W. Dudley Jr.

 

314-342-0878

 

Scott.Dudley@SpireEnergy.com

 

 

 

Media Contact:

 

Jessica B. Willingham

 

314-342-3300

 

Jessica.Willingham@SpireEnergy.com

For Immediate Release

 

Spire Reports Growth in Fiscal 2019 Earnings

Places Spire STL Pipeline in service, raises dividend 5.1 percent

ST. LOUIS (Nov. 25, 2019)

- Spire Inc. (NYSE: SR) today reported results for its fiscal 2019 full year and fourth quarter ended September 30. Highlights include:

Fiscal 2019 net income of $185 million ($3.52 per diluted share), compared to $214 million ($4.33 per share) in fiscal 2018

Net economic earnings* of $195 million, up 6.2 percent from $184 million a year ago; net economic earnings per share of $3.73, up from $3.72 last year

Long-term annual net economic earnings per share growth target of 4-7 percent affirmed

Five-year capital spend target raised to $3 billion including $590 million for fiscal 2020

“In fiscal 2019, we delivered another year of consistent growth and improving performance. Through our organic growth initiatives and continued investment, we achieved growth in our gas utilities while we further expanded our marketing business,” said Suzanne Sitherwood, president and chief executive officer of Spire. “Our ongoing investment in infrastructure upgrades, technology and our people drove another year of enhanced safety, system integrity and service levels. At the same time, we continued to advance our midstream businesses, and we are pleased to announce that the Spire STL Pipeline is now in service, providing a reliable and more diverse supply of natural gas to the St. Louis region. Moving forward, we are poised to continue our growth while delivering on our promise to enrich the lives of our customers and advance the communities we serve.”

 

Fiscal Year Results

 

Year Ended September 30,

 

 

 

(Millions)

 

 

(Per Diluted Common Share)

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net Economic Earnings (Loss)* by Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas Utility

 

$

199.8

 

 

$

183.1

 

 

 

 

 

 

 

 

 

Gas Marketing

 

 

19.4

 

 

 

22.9

 

 

 

 

 

 

 

 

 

Other

 

 

(24.1

)

 

 

(22.3

)

 

 

 

 

 

 

 

 

Total

 

$

195.1

 

 

$

183.7

 

 

$

3.73

 

 

$

3.72

 

Missouri ISRS provision, pre-tax

 

 

(12.2

)

 

 

 

 

 

(0.23

)

 

 

 

Missouri regulatory adjustments, pre-tax

 

 

 

 

 

(30.6

)

 

 

 

 

 

(0.62

)

Effect of the Tax Cuts and Jobs Act

 

 

 

 

 

60.1

 

 

 

 

 

 

1.21

 

All other adjustments

 

 

1.7

 

 

 

1.0

 

 

 

0.02

 

 

 

0.02

 

Net Income

 

$

184.6

 

 

$

214.2

 

 

$

3.52

 

 

$

4.33

 

Weighted Average Diluted Shares Outstanding

 

 

50.8

 

 

 

49.3

 

 

 

 

 

 

 

 

 

*Non-GAAP, see “Net Economic Earnings and Reconciliation to GAAP.”

 


The following information was filed by Spire Inc (SR) on Tuesday, November 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Spire Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Spire Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account