Welcome to our dedicated page for Spire news (Ticker: SR), a resource for investors and traders seeking the latest updates and insights on Spire stock.
Spire Inc. (NYSE: SR) is a natural gas distribution company whose news flow reflects its role as a regulated utility and energy infrastructure owner. Company press releases and SEC filings highlight operations that serve more than 1.7 million homes and businesses through gas utilities in Alabama, Mississippi and Missouri, along with gas marketing and midstream activities under brands such as Spire Marketing and Spire Midstream.
Investors following SR news can expect regular coverage of earnings announcements, including quarterly and full-year results, adjusted earnings metrics and segment performance for Gas Utility, Gas Marketing and Midstream. Spire frequently issues releases in conjunction with its fiscal year-end and interim results, often paired with conference call and webcast details for analysts and shareholders.
Spire’s news also features dividend declarations and updates on its long history of cash dividend payments, including references to more than two decades of consecutive annual dividend increases. Additional coverage includes financing transactions such as junior subordinated notes, senior notes and first mortgage bonds, which the company uses to support infrastructure investment and acquisitions.
A key theme in recent news has been strategic expansion, particularly the agreement to acquire the Piedmont Natural Gas Tennessee business serving more than 200,000 customers in the Nashville area. Related updates include regulatory filings, pro forma financial information and financing arrangements connected to this planned acquisition.
Visitors to the SR news page can use this stream of company-issued updates to monitor Spire’s financial performance, capital plans, regulatory developments and corporate governance communications, including leadership changes and proxy-related information.
On November 18, 2020, Spire Inc. (NYSE: SR) announced an increase in its quarterly common stock dividend from $0.6225 to $0.65 per share, marking the 18th consecutive year of annual dividend increases. This $0.11 increase brings the annualized dividend to $2.60 per share. The dividend will be payable on January 5, 2021, to shareholders of record by December 11, 2020. The board also declared a regular quarterly dividend of $0.36875 per depositary share on its Series A Preferred Stock, payable on February 15, 2021.
Spire Inc. (NYSE: SR) reported a net income of $88.6 million ($1.44 per diluted share) for fiscal 2020, a decrease from $184.6 million ($3.52 per share) in 2019, largely due to impairment charges. However, net economic earnings rose to $207.8 million ($3.76 per share), driven by strong performance in the Gas Utility segment. The company aims for long-term NEE per share growth of 5-7% and projects fiscal 2021 NEE per share between $4.00 and $4.20. Capital expenditures will increase to $590 million for fiscal 2021, focusing on infrastructure upgrades and sustainability initiatives.
Spire Inc. (NYSE: SR) will hold a conference call on November 18, 2020, to discuss its fiscal 2020 results, with the earnings release available before market open. The call starts at 8:00 a.m. CT and can be accessed via dial-in or webcast. A replay will be available post-call until December 18, 2020. Spire serves 1.8 million homes and businesses across Alabama, Mississippi, and Missouri, making it the fifth largest publicly traded natural gas company in the U.S. The company emphasizes its commitment to innovation and infrastructure investment.
Spire Inc. (NYSE: SR) reported a net loss of $92.3 million, or $1.87 per diluted share, for the third quarter of fiscal 2020, significantly higher than the $3.0 million loss a year ago. The loss includes non-cash impairment charges of $148.6 million. Net Economic Earnings (NEE) were $7.3 million, matching the previous year. The company anticipates NEE per share between $3.70 and $3.75 for FY2020, influenced by COVID-19 effects estimated at $0.09 per share. Positive results stem from its Gas Utility segment, which recorded increased contributions from higher ISRS revenues and operational enhancements.
Spire has announced its commitment to achieving carbon neutrality by midcentury and reducing methane emissions by 53% by 2025. This positions Spire as a leader among US natural gas companies in environmental responsibility. Since 2005, the company has already reduced methane emissions by 39% and plans further reductions through its participation in the EPA's Natural Gas STAR Methane Challenge program. In fiscal year 2019, Spire invested $287 million in infrastructure upgrades, resulting in a 21% reduction in leaks. The focus on sustainability is detailed in their Corporate Social Responsibility report.
Spire Inc. (NYSE: SR) will hold a conference call on August 5 to discuss its fiscal 2020 Q3 financial results. The earnings release will be issued before market opening and available on the Investor website. The call is set for 11:00 a.m. CT and will be accessible via phone and webcast. A replay will be available post-call until September 4, 2020.
Spire Missouri Inc. reported the final tender results for various First Mortgage Bonds, expiring on June 12, 2020. The total principal amount validly tendered includes $5,715,000 for the 2029 Bonds, $755,000 for the 2034 Bonds, and $500,000 for the 2036 Bonds, with no valid tenders for the 2030 Bonds. The Company will purchase all validly tendered Bonds, which will then be canceled. Payments for the Tender Consideration and any Accrued Interest are expected on June 16, 2020.