Why Is Spire (SR) Up 5.1% Since Last Earnings Report?

Company Overview - Spire Inc. reported Q1 fiscal 2025 earnings of $1.34 per share, missing the Zacks Consensus Estimate of $1.42 by 5.6% and declining 8.8% from $1.47 in the prior year [2] - Total revenues for the quarter were $669.1 million, missing the Zacks Consensus Estimate of $726 million by 7.8% and decreasing 11.6% from $756.6 million in the year-ago quarter [3] Financial Performance - Operating expenses totaled $520.3 million, down 15.7% from $617.4 million in the prior-year period [4] - Operating income was $148.8 million, compared to $139.2 million in the prior-year quarter [4] - Net interest expenses decreased 5.1% year over year to $48 million [4] Segment Performance - Gas Utility segment reported adjusted earnings of $77.8 million, up 2.6% from the prior-year quarter, driven by higher Spire Missouri ISRS revenues and improved margins at Spire Alabama [5] - Gas Marketing segment reported adjusted earnings of $2.2 million, down 69.4% from the prior-year quarter due to higher storage and transportation costs [6] - Midstream segment adjusted earnings totaled $12 million, up 400% from the year-ago quarter, attributed to higher Spire Storage earnings [7] - Other segment reported an adjusted loss of $10.9 million compared to a loss of $2.7 million in the prior-year quarter [7] Financial Highlights - Cash and cash equivalents as of December 31, 2024, were $11.5 million, up from $4.5 million as of September 30, 2024 [8] - Long-term debt as of December 31, 2024, totaled $3,697.7 million, slightly down from $3,704.4 million as of September 30, 2024 [8] - Net cash provided by operating activities in Q1 totaled $81.1 million, compared to $70 million in the year-ago period [8] Guidance and Outlook - Spire 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 [10] - The company anticipates a 10-year capital investment of $7.4 billion, expected to drive annual rate-based growth of 7-8% [10] - Capital expenditures for fiscal 2025 are projected to be $790 million [10] Industry Context - Spire is part of the Zacks Utility - Gas Distribution industry, which has seen Atmos Energy (ATO) gain 2.3% over the past month [14] - Atmos reported revenues of $1.18 billion for the quarter ended December 2024, reflecting a year-over-year change of +1.5% [14]