Spire (SR) Tops Q2 EPS by 37c, Beats on Revenues; Offers FY18 EPS Mid-Point Outlook Below Consensus

Spire (NYSE: SR) reported Q2 EPS of $2.83, $0.37 better than the analyst estimate of $2.46. Revenue for the quarter came in at $813.4 million versus the consensus estimate of $676.29 million.

• Initiation of fiscal 2018 net economic earnings guidance of $3.65 to $3.75 per share and increasing long-term earnings growth target to 4-7 percent
• Five-year capital expenditures plan increased to $2.5 billion
• GAAP earnings per diluted share of $2.03, compared to $2.36 a year ago, reflecting largely non-cash fair value accounting and regulatory adjustments
• Net economic earnings* per share of $2.83, up from $2.38 a year ago, reflecting strong Spire Marketing results, lower federal income taxes and the impact of regulatory adjustments

GUIDANCE:

Spire sees FY2018 EPS of $3.65-$3.75, versus the consensus of $3.74.

For earnings history and earnings-related data on Spire (SR) click here.

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