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 FY21 4th Quarter and Full-Year Results

ST. LOUIS (Nov. 22, 2021)

- Spire Inc. (NYSE: SR) today reported results for its fiscal 2021 fourth quarter and full year ended September 30. Highlights include:

A narrower fourth quarter loss of $10 million ($0.26 per diluted share) compared to a loss of $20 million ($0.45 per share) in fiscal 2020. On a net economic earnings (NEE) per share basis, the fourth quarter losses were $0.32 this year compared to $0.37 a year ago.

Spire STL Pipeline working to ensure continued operation throughout the upcoming winter

Spire Missouri seeks clarification on unprecedented rate review order

Launching fiscal 2022 NEE per share guidance of $3.70 - $4.00 and increasing our 5-year capital expenditure target to $3.1 billion

“This past year has offered numerous challenges, including severe winter weather, challenges to the continued operation of the Spire STL Pipeline, and most recently, an unprecedented order regarding our Missouri rate review. The order was inconsistent with the precedent established in previous rate cases and our practices based on that precedent. As a result, we’ve filed for reconsideration with the Missouri commission in an effort to achieve an outcome that’s fair and reasonable,” said Suzanne Sitherwood, president and chief executive officer of Spire. “Through it all, Spire employees have remained focused and dedicated to answering challenges and delivering for our customers, our communities and our shareholders, with strong performance by our utilities, including strengthening the safety and integrity of our natural gas distribution system, and enhancing our sustainability.”

 

Fourth Quarter Results

 

Three Months Ended September 30,

 

 

 

(Millions)

 

 

(Per Diluted Common Share)

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net Economic (Loss) Earnings* by Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas Utility

 

$

(17.8

)

 

$

(8.4

)

 

 

 

 

 

 

 

 

Gas Marketing

 

 

9.1

 

 

 

(2.2

)

 

 

 

 

 

 

 

 

Other

 

 

(4.4

)

 

 

(4.7

)

 

 

 

 

 

 

 

 

Total

 

$

(13.1

)

 

$

(15.3

)

 

$

(0.32

)

 

$

(0.37

)

All adjustments, including tax effects

 

 

3.2

 

 

 

(4.4

)

 

 

0.06

 

 

 

(0.08

)

Net Loss

 

$

(9.9

)

 

$

(19.7

)

 

$

(0.26

)

 

$

(0.45

)

Weighted Average Diluted Shares Outstanding

 

 

51.7

 

 

 

51.6

 

 

 

 

 

 

 

 

 

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

 

 

 

 


The following information was filed by Spire Inc (SR) on Monday, November 22, 2021 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.

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