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Spire Inc. reports developments for a regulated natural gas utility company centered on gas distribution businesses in Missouri, Alabama, Mississippi and Tennessee. Its recurring news includes quarterly operating results, earnings guidance, common stock dividends, infrastructure and utility investment themes, and capital actions tied to its public securities.
Company updates also cover Spire's portfolio shift toward regulated gas utility operations, including the completed acquisition of the Piedmont Natural Gas Tennessee business and the completed sale of Spire Marketing. Spire reports its natural gas utilities in a Gas Utility segment, with remaining operations such as Spire MoGas Pipeline reported outside that segment.
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.