Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Aug. 22, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Spire Global Inc ("Spire" or "the Company") (NYSE: SPIR) investors that a lawsuit filed on behalf of investors that purchased Spire securities between March 6, 2024, and August 14, 2024. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click ...

NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Spire Global, Inc. ("Spire Global" or the "Company") (NYSE:SPIR) in the United States District Court for the Eastern District of Virginia on behalf of all persons and entities who purchased or otherwise acquired Spire Global securities between March 6, 2024 and August 14, 2024, both dates inclusive (the "Class Period"). Inv ...

Group 1 - A class action has been filed against Spire Global, Inc. on behalf of shareholders who purchased securities between March 6, 2024, and August 14, 2024 [1] - The allegations include misleading investors regarding revenue recognition related to Space Services contracts, specifically failing to disclose embedded leases and ineffective internal controls [2] - On August 14, 2024, Spire Global announced it would not timely file its Q2 2024 financial report due to a review of its accounting practices, revealing that recognized revenue from certain contracts was between $10 million and $15 million annually [3] Group 2 - Following the announcement, Spire Global's share price dropped by $3.41, or 33.56%, closing at $6.75 per share on August 15, 2024 [3] - Shareholders interested in serving as lead plaintiffs must submit their applications by October 21, 2024, and can remain absent class members if they choose not to participate [4] - Robbins LLP, the law firm handling the case, has a history of recovering over $1 billion for shareholders since its inception in 2002 [5]

NEW YORK, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Spire Global, Inc. ("Spire" or the "Company") (NYSE:SPIR) on behalf of Spire stockholders. Our investigation concerns whether Spire has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On August 14, 2024, following the market close, Spire publicly disclosed that ...

Core Viewpoint - Johnson Fistel, LLP is investigating potential violations of securities laws by Spire Global Inc. and its executives regarding the misrepresentation or failure to disclose material adverse information to investors [1][3]. Investigation Details - The investigation was initiated after Spire announced on August 14, 2024, that its 10-Q filing for the quarter ending June 30 would be delayed, which was communicated to the SEC [3]. - Spire also indicated plans to reschedule its second-quarter results conference call, pending confirmation of the filing date for its Form 10-Q [3]. Market Reaction - Following the announcement of the delayed filing, Spire's stock experienced a significant decline, trading down 40% during early morning trading on August 15, 2024 [4].

Core Viewpoint - Spire Global, Inc. is under investigation by Block & Leviton for potential securities law violations following a significant drop in its stock price after filing a late quarterly report [1][2][4]. Group 1: Company Performance - Shares of Spire Global, Inc. have decreased by 30% after the company filed a Form 12b-25 with the U.S. SEC regarding its expected Quarterly Report for the quarter ended June 30, 2024 [2]. - The filing indicates that the company may not meet its reporting obligations on time, raising concerns among investors [2]. Group 2: Legal Investigation - Block & Leviton is investigating whether Spire Global committed securities law violations and may pursue legal action to recover losses for affected investors [4]. - Investors who have lost money on their Spire Global investments are encouraged to contact Block & Leviton for potential recovery options [5]. Group 3: Investor Eligibility - Any individual who purchased common stock of Spire Global and has experienced a decline in share value may be eligible to participate in the investigation, regardless of whether they have sold their shares [3]. Group 4: Whistleblower Information - Individuals with non-public information about Spire Global are encouraged to assist in the investigation or report to the SEC under the whistleblower program, with potential rewards of up to 30% of any successful recovery [6]. Group 5: Firm Reputation - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors and representing many top institutional investors [7].

Core Viewpoint - Spire Global Inc is under investigation for possible securities fraud following a significant drop in its stock price after announcing a delay in its 10-Q filing [1][3]. Group 1: Company Performance - On August 14, 2024, Spire's shares fell by 17% after the company notified the SEC about the late filing of its 10-Q for the quarter ended June 30 [3]. - The company also announced that it would reschedule its 2Q results conference call, with the timing to be confirmed once the filing date is established [3]. Group 2: Legal Actions - The Portnoy Law Firm has initiated an investigation into Spire Global Inc and may file a class action on behalf of investors who have incurred losses [1]. - Investors are encouraged to contact the law firm for a complimentary case evaluation and to discuss their legal rights regarding potential claims [2][4].

Core Viewpoint - Spire Inc. reported a narrower loss in Q3 fiscal 2024 compared to the previous year, driven by strong performance across its segments despite a slight decline in total revenues [1][2][3]. Financial Performance - The company reported a loss of 14 cents per share, better than the Zacks Consensus Estimate of a loss of 18 cents [1]. - Total revenues for the quarter were $414.1 million, missing the Zacks Consensus Estimate of $415 million by 0.3% and down 1.2% from $419 million in the prior-year quarter [3]. - Total operating expenses decreased by 5.7% to $383.4 million from $406.5 million in the prior-year period [4]. - Operating income increased significantly by 155.8% to $30.7 million from $12 million in the prior-year quarter [4]. - Net interest expenses rose by 4.5% year over year to $48.8 million [4]. Segment Performance - Gas Utility segment reported a net economic loss of $11 million, an improvement from a loss of $12.3 million in the prior-year quarter [5]. - Gas Marketing segment achieved net economic earnings of $1 million, recovering from a loss of $2.5 million in the prior-year period due to improved transportation margins [5]. - Midstream segment reported net economic earnings of $13.9 million, up from $3.6 million in the year-ago period, driven by higher storage earnings and new contracts [6]. - Other activities reported a loss of $8.2 million, slightly worse than a loss of $7.4 million in the prior-year quarter [6]. Guidance and Future Outlook - Spire lowered its fiscal 2024 net economic earnings guidance to a range of $4.15-$4.25 per share from the previous range of $4.25-$4.45, citing adverse weather conditions and increased expenses [8]. - The Zacks Consensus Estimate for fiscal 2024 earnings is $4.32 per share, which is above the company's revised guidance [8]. - The company plans capital investments of $7.3 billion through 2033, expecting an annual rate-based growth of 7-8% [9]. - Fiscal 2024 capital expenditure guidance was raised from $800 million to $830 million due to increased deployment of advanced meters [9].

Financial Data and Key Metrics Changes - The company reported a net economic earnings loss of $0.14 per share for Q3 2024, an improvement from a loss of $0.42 per share in the same quarter last year, reflecting better results across all business segments [5][17] - The expected earnings for the fiscal year have been adjusted to a range of $4.15 to $4.25 per share, down from previous guidance due to headwinds from lower margins and higher interest rates [6][23] Business Line Data and Key Metrics Changes - Utility earnings improved to a loss of $11 million, which is $1.3 million better than the previous year, driven by new rates but offset by higher depreciation and bad debt expenses [17] - The gas marketing segment saw an increase of $3.5 million due to improved transportation margins [17] - The midstream business posted higher results due to additional storage capacity and new rates, benefiting from increased demand [18] Market Data and Key Metrics Changes - In Missouri, 25 publicly announced economic projects are expected to bring nearly $3.5 billion in investment and create over 3,500 jobs [7] - Alabama reported 184 wins in new and existing projects, resulting in over 8,000 jobs and $6.4 billion in investment [7] Company Strategy and Development Direction - The company is focused on cost management and operational efficiency to lower overall costs for customers, with significant benefits expected in fiscal years 2025 and 2026 [5][6] - A long-term strategy includes attracting new businesses through economic development, emphasizing the importance of reliable and affordable energy [7][8] - The company is committed to sustainability, as highlighted in its sixth sustainability report, which covers environmental, safety, people, and governance priorities [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from warm winter weather and higher interest rates impacting margins, particularly in Missouri [6][21] - Despite challenges, management remains confident in returning to normal margins and achieving long-term growth targets of 5% to 7% in net economic earnings per share [23] Other Important Information - The company has launched a customer affordability initiative aimed at improving operational efficiency and reducing costs, which includes workforce reductions and streamlining processes [12][13] - Capital expenditures for the first nine months of fiscal 2024 totaled $631 million, with a focus on modernizing infrastructure [14][15] Q&A Session Summary Question: What is the potential magnitude of benefits from cost efforts? - Management indicated that while some benefits will be realized in 2024, the focus is on achieving more significant savings in 2025 and 2026 through comprehensive cost management initiatives [27][28] Question: How do you expect 2025 growth to trend? - Management targets the midpoint of the 5% to 7% growth range for 2025, but acknowledges the need to assess the timing of cost savings and regulatory impacts [30][34] Question: Can you elaborate on the growth drivers in the marketing business? - The marketing business growth is driven by gaining customers and contracts, with expectations for continued growth in a stable market environment [47][48]

Fair value and timing adjustments 0.1 6.1 ― ― 6.2 0.11 Q3 YTD FY24 contribution margin reconciliation to GAAP Gas Utility The Future is Bright Participants on today's call President and Chief Executive Officer Executive Vice President and Chief Operating Officer Executive Vice President and Chief Financial Officer 2 S p i r e | T h i r d q u a r t e r f i s c a l 2 0 2 4 u p d a t e • We remain focused on – Consistent and constructive regulatory outcomes • Spire Alabama annual rate setting in the Fall – Hig ...