First quarter fiscal 2025 update February 5, 2025 Forward-looking statements and use of non-GAAP measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements in this presentation speak only as of today, and we assume no duty to update them. Forward- looking statements are typically identified by words such as, but not limited to: "estimates," "expects," "anticipates," "intends," "targets," "plans," " ...

Core Viewpoint - Spire Inc. reported disappointing first-quarter fiscal 2025 earnings, missing consensus estimates and showing a decline in both earnings per share and total revenues compared to the previous year [1][2]. Financial Performance - Earnings per share for the first quarter were $1.34, falling short of the Zacks Consensus Estimate of $1.42 by 5.6% and down 8.8% from $1.47 in the same quarter last year [1]. - Total revenues amounted to $669.1 million, missing the Zacks Consensus Estimate of $726 million by 7.8% and decreasing 11.6% from $756.6 million year-over-year [2]. Operating Expenses and Income - Operating expenses were reported at $520.3 million, a decrease of 15.7% from $617.4 million in the prior-year period [3]. - Operating income increased to $148.8 million compared to $139.2 million in the prior-year quarter [3]. - Net interest expenses decreased by 5.1% year-over-year to $48 million [3]. Segment Performance - **Gas Utility**: Adjusted earnings were $77.8 million, up 2.6% from the prior-year quarter, driven by higher contribution margins [4]. - **Gas Marketing**: Adjusted earnings fell to $2.2 million, a decline of 69.4% from the previous year, attributed to increased costs and reduced volatility [5]. - **Midstream**: Adjusted earnings surged to $12 million, a 400% increase from the year-ago quarter, due to higher Spire Storage earnings [6]. - **Other**: This segment reported an adjusted loss of $10.9 million, worsening from a loss of $2.7 million in the prior-year quarter [6]. Cash Flow and Debt - Cash and cash equivalents as of December 31, 2024, were $11.5 million, up from $4.5 million as of September 30, 2024 [7]. - Long-term debt (less current portion) was $3,697.7 million as of December 31, 2024, slightly down from $3,704.4 million as of September 30, 2024 [7]. - Net cash provided by operating activities totaled $81.1 million, compared to $70 million in the year-ago period [7]. Future Guidance - The company expects fiscal 2025 earnings to be in the range of $4.40-$4.60 per share, with the Zacks Consensus Estimate at $4.51 per share [8]. - Spire plans a 10-year capital investment of $7.4 billion, aiming for an annual rate-based growth of 7-8% [8]. - Capital expenditures for fiscal 2025 are projected to be $790 million [8].

Core Insights - Spire reported a revenue of $669.1 million for the quarter ended December 2024, which is an 11.6% decrease compared to the same period last year, and EPS decreased to $1.34 from $1.47 year-over-year [1] - The revenue fell short of the Zacks Consensus Estimate of $725.71 million, resulting in a surprise of -7.80%, while the EPS also missed the consensus estimate of $1.42 by -5.63% [1] Financial Performance Metrics - Operating Revenues from Gas Utility were $613.50 million, which is a decline of 14.2% year-over-year and below the average estimate of $650.89 million [4] - Operating Revenues from Gas Marketing reached $33 million, exceeding the average estimate of $26.14 million, but still represented a 9.1% decrease year-over-year [4] - Operating Revenues from Midstream were $33.50 million, significantly higher than the estimated $24.27 million, marking a 124.8% increase compared to the previous year [4] - Operating Revenues from Other segments were $4.70 million, surpassing the estimate of $3.77 million, reflecting a 14.6% year-over-year increase [4] - Operating Income from Gas Marketing was $2.70 million, which fell short of the average estimate of $12.05 million [4] - Operating Income from Midstream was $17.30 million, exceeding the estimated $12.46 million [4] - Operating Income from Gas Utility was $127.80 million, slightly below the average estimate of $128.32 million [4] - Operating Income from Other segments was $1 million, compared to an average estimate of -$4.76 million [4] Stock Performance - Spire's shares have returned +6.8% over the past month, outperforming the Zacks S&P 500 composite, which saw a +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Financial Performance - Operating revenues for Q4 2024 were $669.1 million, a decrease of 11.5% compared to $756.6 million in Q4 2023[10]. - Net income for Q4 2024 was $81.3 million, down from $85.1 million in Q4 2023, representing a decline of 4.5%[12]. - Basic earnings per common share for Q4 2024 were $1.34, compared to $1.52 in Q4 2023, a decrease of 11.8%[10]. - Adjusted earnings for the three months ended December 31, 2024, were $81.1 million, compared to $82.7 million in the same period of 2023, reflecting a decrease of 1.9%[122]. - For the three months ended December 31, 2024, Spire's financial results are compared to the same period in 2023, highlighting changes in net income and adjusted earnings[159]. Revenue and Expenses - Total operating expenses decreased to $520.3 million in Q4 2024 from $617.4 million in Q4 2023, reflecting a reduction of 15.7%[10]. - Operating revenues decreased to $457.5 million in Q4 2024 from $535.4 million in Q4 2023, reflecting a decline of 14.5%[27]. - Operating revenues for Spire Alabama Inc. decreased to $120.4 million in Q4 2024, down 15.0% from $142.1 million in Q4 2023[41]. - Operating income for the quarter was $148.8 million, compared to $139.2 million in the prior year, marking an increase of 6.5%[164]. - Operating and maintenance expenses decreased by $1.7 million compared to the prior year, reflecting lower non-payroll operations expenses[171]. Assets and Liabilities - Total assets increased to $11,275.8 million as of December 31, 2024, up from $10,860.7 million at the end of the previous fiscal year, marking a growth of 3.8%[15]. - Total Capitalization rose to $7,015.0 million as of December 31, 2024, compared to $6,313.4 million a year prior, indicating an increase of 11.1%[17]. - Total liabilities stand at $27.9 million, with $21.9 million attributed to gas utility and $6 million to gas marketing[105]. - The current liabilities increased to $908.6 million as of December 31, 2024, compared to $781.7 million at September 30, 2024, reflecting a rise of 16.3%[33]. Cash Flow - The company reported a net cash provided by operating activities of $81.1 million, an increase from $70.0 million in the same quarter of the previous year, reflecting a growth of 15.9%[24]. - Net cash provided by operating activities for the three months ended December 31, 2024, improved by $11.1 million to $81.1 million[189]. - Cash and cash equivalents increased to $11.5 million from $4.5 million in the previous quarter, a significant rise of 155.6%[15]. Capital Expenditures - Capital expenditures for the three months ended December 31, 2024, totaled $260.6 million, compared to $226.5 million in the same period of 2023, an increase of 15.0%[24]. - Capital expenditures for the three months ended December 31, 2024, were $178.3 million, an increase from $144.7 million in the same period of 2023[39]. Shareholder Equity - Total Shareholders' Equity increased to $3,308.9 million as of December 31, 2024, up from $3,050.8 million a year earlier, representing a growth of 8.5%[17]. - Total shareholder's equity rose to $2,049.4 million as of December 31, 2024, compared to $1,901.9 million a year earlier, marking an increase of 7.8%[33]. Debt and Interest - Long-term debt (less current portion) was reported at $3,697.7 million, a slight decrease from $3,704.4 million in the previous quarter[17]. - The weighted average interest rate for Spire's borrowings outstanding as of December 31, 2024, was 4.4%[95]. - Interest expense for the three months ended December 31, 2024, was $6.3 million, compared to $3.8 million for the same period in 2023[97]. Regulatory Assets and Liabilities - Regulatory assets decreased to $1,288.4 million as of December 31, 2024, down from $1,266.9 million a year earlier, a decline of 1.7%[15]. - Total Regulatory Assets for Spire increased to $1,378.0 million as of December 31, 2024, compared to $1,367.2 million on September 30, 2024, and $1,523.3 million on December 31, 2023[78]. - Total Regulatory Liabilities for Spire rose to $628.2 million as of December 31, 2024, up from $585.0 million on September 30, 2024, and $494.3 million on December 31, 2023[78]. Market and Operational Insights - The company is focused on expanding its gas marketing segment, which has shown resilience despite market fluctuations[105]. - Future outlook includes potential growth in natural gas contracts and strategic investments in energy markets[105]. - The company is focusing on expanding its market presence through strategic acquisitions and new product developments[106]. Environmental and Regulatory Matters - The company has identified three former manufactured gas plant sites in Missouri, with ongoing remediation efforts and cost-sharing agreements in place[132][134]. - The company is involved in various environmental liabilities and litigation, but management believes these will not materially affect financial statements[127][128].

Spire (SR) came out with quarterly earnings of $1.34 per share, missing the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.47 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.63%. A quarter ago, it was expected that this natural gas distributor would post a loss of $0.52 per share when it actually produced a loss of $0.54, delivering a surprise of -3.85%.Over the last four quarters, the company ...

Exhibit 99.1 Investor Contact: Megan L. McPhail 314-309-6563 Megan.McPhail@SpireEnergy.com Media Contact: Jason Merrill 314-342-3300 Jason.Merrill@SpireEnergy.com For Immediate Release Spire reports FY25 first quarter results ST. LOUIS (Feb. 5, 2025) – Spire Inc. (NYSE: SR) today reported results for its fiscal 2025 first quarter ended December 31. Highlights include: For fiscal 2025 first quarter, Spire reported adjusted earnings per share of $1.34, a decrease of $0.13 compared to last year. Gas Utility ea ...

ST. LOUIS, Feb. 5, 2025 /PRNewswire/ -- Spire Inc. (NYSE: SR) today reported results for its fiscal 2025 first quarter ended December 31. Highlights include: First quarter net income of $81.3 million ($1.34 per diluted share) compared to $85.1 million ($1.52 per share) a year ago First quarter adjusted earnings* of $81.1 million ($1.34 per share) compared to $82.7 million ($1.47 per share) a year ago Affirmed fiscal 2025 adjusted earnings guidance range of $4.40–$4.60For fiscal 2025 first quarter, Spire rep ...

Spire (SR) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 5. On the ...

My articles are written with a mind to owning a stock for years, not trying to predict price movements in a few months. I don't do target prices; I do valuations.I first entered investing in 2020 as an individual value investor, keen to understand the fundamentals of businesses and buy their shares at attractive prices. From May 2022 to May 2023, I worked as an investment advisory representative at Fidelity Investments. I am now self-employed through other ventures.Part of my technique is to write an articl ...

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