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Spire's (SR) Q4 Loss Narrower Than Expected, Revenues Beat

Spire Inc. SR reported fourth-quarter fiscal 2021 net economic loss of 32 cents per share, narrower than the Zacks Consensus Estimate of a loss of 68 cents. The same compares favorably with the year-ago loss of 37 cents.

Revenues

Total revenues came in at $290.2 million, which beat the Zacks Consensus Estimate of $234 million by 24%. The top line also improved 15.2% from $251.9 million in the year-ago quarter.

Spire Inc. Price, Consensus and EPS Surprise

Spire Inc. price-consensus-eps-surprise-chart | Spire Inc. Quote

Highlights of the Release

For the quarter under review, operating expenses of $263.5 million increased 4.6% from the prior-year period’s $251.8 million.

Operating income was $26.7 million, up significantly from $0.1 million in the prior-year quarter.

Net interest expenses increased 11.9% year over year to $28.2 million in the reported quarter.

Financial Highlights

Cash and cash equivalents at the end of fiscal 2021 were $4.3 million compared with $4.1 million at the end of fiscal 2020.

Long-term debt (less current portion) amounted to $2,939.1 million at the end of fiscal 2021 compared with $2,423.7 million at the end of fiscal 2020.

Spire’s net cash provided by operating activities in fiscal 2021 was $249.8 million compared with $469.9 million in fiscal 2020.

Guidance

Spire expectes its NEE per share guidance for fiscal 2022 within $3.70-$4. In the long term, SR expects NEE per share to grow 5-7%. This estimate is based on expected annual rate base growth of 7-8%.

SR also expects its five-year investment plan through fiscal 2026 to be $3.1 billion and aims to invest $570 million for fiscal 2022.

Zacks Rank

Spire currently has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

National Fuel Gas Company NFG posted fourth-quarter fiscal 2021 adjusted operating earnings of 95 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 21.8%. Total revenues of $356 million, however, missed the Zacks Consensus Estimate of $430 million by 17.3%.

National Fuel Gas revised its fiscal 2022 earnings guidance to the range of $5.05-$5.45 from the prior expectation of $4.40-$4.80. The new guidance takes into consideration the expected increase in the natural gas prices for fiscal 2022. NFG has returned 45.1% in the past 12 months compared with the industry’s rally of 18.1%.

Chesapeake Utilities Corp. CPK posted third-quarter 2021 adjusted operating earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 54 cents by 31.5%. Total revenues of $107 million, however, missed the Zacks Consensus Estimate of $114 million by 5.8%.

Chesapeake Utilities’ capital expenditure guidance for the 2021-2025 time period is projected in the range of $750-$1 billion. CPK raised its earnings per share guidance to $6.05-$6.25 for 2025. The stock has rallied 25% in the past 12 months.

ONE Gas Inc. OGS reported third-quarter 2021 earnings of 38 cents per share, on par with the Zacks Consensus Estimate. Revenues of $273.9 million for the quarter surpassed the Zacks Consensus Estimate of $261 million by 4.9%.

ONE Gas narrowed its 2021 net income guided range to $204-$209 million from $198-$210 million and earnings per share expectation to $3.80-$3.90 from the $3.68-$3.92 band. The Zacks Consensus Estimate for OGS’ 2021 earnings has moved 0.8% up in the past 60 days to $3.84 per share.


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Chesapeake Utilities Corporation (CPK): Free Stock Analysis Report
 
National Fuel Gas Company (NFG): Free Stock Analysis Report
 
Spire Inc. (SR): Free Stock Analysis Report
 
ONE Gas, Inc. (OGS): Free Stock Analysis Report
 
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