Earnings release
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spire ( 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 Second Quarter Results ST . LOUIS ( May 7 , 2021 ) - Spire Inc. ( NYSE : SR ) today reported results for its fiscal second quarter ended March 31 , 2021. Highlights include : • • Second quarter fiscal 2021 net income of $ 187.4 million ( $ 3.55 per diluted share ) , compared to $ 133.6 million ( $ 2.54 per share ) in the prior year Net economic earnings * ( NEE ) of $ 195.6 million ( $ 3.71 per share ) , up from $ 144.0 million ( $ 2.75 per share ) a year ago , reflecting strong Spire Marketing performance Results for Spire Marketing include value created during the February cold weather event , and our fiscal 2021 NEE guidance range has been increased to $ 4.30 - $ 4.50 per share " During February's severe winter weather , teams across Spire ensured our communities maintained access to the energy they needed to stay safe and warm , while doing everything we could to minimize impact to cost . At the same time , our Spire Marketing business was well positioned to meet customer needs , while also capturing additional value , ” said Suzanne Sitherwood , president and chief executive officer . “ Our exceptional operating performance reflects thoughtful preparation and the benefits of our investments in natural gas supply , storage resources and the Spire STL Pipeline . We are also delivering on our commitment to be a carbon neutral company by midcentury , and will be issuing an update on our ESG progress next week in our third annual Corporate Social Responsibility report . " 2021 Three Months Ended March 31 , ( Millions ) 2020 ( Per Diluted Common Share ) 2021 2020 Second Quarter Results Net Economic Earnings * by Segment Gas Utility $ Gas Marketing 159.7 39.8 144.3 5.1 Other ( 3.9 ) ( 5.4 ) Total 195.6 $ 144.0 $ 3.71 $ 2.75 Missouri regulatory adjustment ( Court Ruling ) , pre- tax 9.0 0.17 Other net economic earnings adjustments , pre - tax Income tax effect of pre - tax adjustments ( 20.1 ) 2.9 ( 13.8 ) ( 0.39 ) ( 0.27 ) 3.4 0.06 0.06 Net Income $ 187.4 133.6 $ 3.55 2.54 Weighted Average Diluted Shares Outstanding 51.7 51.1 * Non - GAAP , see “ Net Economic Earnings and Reconciliation to GAAP . "