Earnings release
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spire S Investor Contact : Scott W. Dudley Jr. 314-342-0878 Scott.Dudley@SpireEnergy.com Media Contact : Jessica B. Willingham 314-342-3300 Jessica . Willingham@SpireEnergy.com For Immediate Release Spire Reports First Quarter Results ST . LOUIS ( Feb. 4 , 2021 ) - Spire Inc. ( NYSE : SR ) today reported results for its fiscal first quarter ended December 31 , 2020. Highlights include : • • • First quarter fiscal 2021 net income of $ 88.9 million ( $ 1.65 per diluted share ) , compared to $ 67.0 million ( $ 1.24 per share ) in the prior year Net economic earnings * of $ 76.9 million ( $ 1.42 per share ) , up from $ 71.8 million ( $ 1.33 per share ) a year ago We remain on track with our capital investment program , and reaffirm our long - term earnings growth and ESG targets “ We're stepping forward in fiscal 2021 , building on last year's momentum to deliver on our growth- focused strategic priorities . Thanks to our remarkable Spire employees , we're off to a good start in our first quarter with higher earnings and solid operating performance . We're doing this while continuing to support our customers and communities , and doing our best to keep everyone healthy and safe , ” said Suzanne Sitherwood , president and chief executive officer of Spire . “ At the same time , we continued our investment in infrastructure upgrades and innovation to drive even stronger safety , reliability , and customer service levels . We're remaining focused on our ESG goals including our commitment to being a carbon neutral company by midcentury . ” First Quarter Results Three Months Ended December 31 , ( Millions ) 2020 2019 2020 ( Per Diluted Common Share ) 2019 Net Economic Earnings * by Segment Gas Utility $ 76.4 $ 69.1 Gas Marketing 3.3 6.1 Other ( 2.8 ) ( 3.4 ) Total 76.9 71.8 1.42 $ 1.33 Net economic earnings adjustments , pre - tax 16.0 ( 6.3 ) 0.31 ( 0.12 ) Income tax effect of pre - tax adjustments ( 4.0 ) 1.5 ( 0.08 ) 0.03 Net Income $ 88.9 $ 67.0 $ 1.65 $ 1.24 Weighted Average Diluted Shares Outstanding 51.6 51.1 * Non - GAAP , see " Net Economic Earnings and Reconciliation to GAAP . ”