Spire (SR) Reports Q3 Loss, Misses Revenue Estimates

Company Performance - Spire reported a quarterly loss of $0.14 per share, better than the Zacks Consensus Estimate of a loss of $0.18, and an improvement from a loss of $0.42 per share a year ago, resulting in an earnings surprise of 22.22% [1] - The company posted revenues of $414.1 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.32%, and down from $418.5 million year-over-year [2] - Over the last four quarters, Spire has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Future Outlook - The current consensus EPS estimate for the coming quarter is -$0.32 on revenues of $332.5 million, and for the current fiscal year, it is $4.32 on revenues of $2.63 billion [8] - The estimate revisions trend for Spire is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [7] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [3] Industry Context - The Utility - Gas Distribution industry, to which Spire belongs, is currently in the top 14% of over 250 Zacks industries, suggesting a favorable industry outlook [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Spire's performance [6]