Spire Non-GAAP EPS of $1.55 beats by $0.48, revenue of $814M beats by $252.65M (NYSE:SR)
Spire press release (SR): Q1 Non-GAAP EPS of $1.55 beats by $0.48.Revenue of $814M (+46.6% Y/Y) beats by $252.65M.Outlook: We remain confident in our long-term ability to grow NEE...
Feb. 01, 2023 7:12 AM ETSpire Inc. (SR)By: Deepa Sarvaiya, SA News Editor Spire press release (NYSE:SR): Q1 Non-GAAP EPS of $1.55 beats by $0.48.
Revenue of $814M (+46.6% Y/Y) beats by $252.65M. Outlook: We remain confident in our long-term ability to grow NEE per share 5–7% given our growth strategy and planned capital investment in infrastructure upgrades, innovation and new business. The base year for this growth is the midpoint of our original fiscal 2023 earnings guidance.
Reflecting the outperformance of Spire Marketing in the first quarter, we are raising our fiscal 2023 NEE per share guidance by $0.10 to $4.15–$4.35 vs consensus of $4.13. Our targeted capital investment for the 10-year period through fiscal 2032 remains $7 billion, and this level of investments is anticipated to drive 7–8% rate base growth for our utilities. Expected capital expenditures for fiscal 2023 remain $700 million.