Free Research Report as Spire's Adjusted EPS Beat Expectations
LONDON, UK / ACCESSWIRE / December 28, 2017 / Active-Investors.com has just released a free earnings report on Spire Inc. (NYSE: SR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SR. The Company posted its financial results on November 14, 2017, for the fourth quarter and for the fiscal year 2017. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Spire most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the three months ended September 29, 2017, Spire's total operating revenue decreased 7.4% to $258.7 million from $279.3 million in Q4 FY16. The Company's revenue numbers were below analysts' expectations of $278.73 million.
During FY17, the Company's revenue increased 13.2% to $1.74 billion from $1.54 billion in FY16.
During Q4 FY17, Spire's operating income was $1.90 million compared to an operating loss of $7.7 million in the same period of last year.
During FY17, the Company's operating income increased 14% to $321.7 million from $282.3 million in FY16. During FY17, the Company's operating margin increased 10 basis points to 18.5% of revenue from 18.4% of revenue in FY16.
During Q4 FY17, Spire's earnings before tax (EBT) was negative $20.0 million versus negative $22.4 million in the comparable period of last year.
For the reported quarter, Spire's net loss was $13.3 million compared to a net loss of $14.2 million in Q4 FY16. During Q4 FY17, the Company's diluted earnings per share (EPS) was negative $0.28 compared to negative $0.31 in the corresponding period of last year. For the reported quarter, Spire's adjusted net loss was $10.5 million compared to an adjusted net loss of $14.1 million in Q4 FY16. During Q4 FY17, the Company's adjusted diluted EPS was negative $0.22 compared to negative $0.32 in Q4 FY16, surpassing analysts' expectations of negative $0.26.
During FY17, the Company's net income increased 12.1% to $161.6 million from $144.2 million in FY16. During FY17, the Company's diluted EPS increased 5.9% to $3.43 from $3.24 in FY16.
Segment Details
Gas Utility - During Q4 FY17, the Company's Gas Utility segment's revenue increased 24.4% to $240.9 million from $193.7 million in the same period of last year. For the reported quarter, the segment's operating income was $1.3 million compared to an operating loss of $11.8 million in Q4 FY16. For the reported quarter, the segment's contribution margin increased 15.2% to $161.2 million from $139.9 million in Q4 FY16. For the reported quarter, the segment's net economic earnings (NEE) was negative $5.8 million compared to negative $10.2 million in Q4 FY16.
Gas Marketing - During Q4 FY17, the Company's Gas Marketing segment's revenue decreased 68.4% to $17.5 million from $55.4 million in the comparable period of last year. For the reported quarter, the segment's operating income decreased 67.6% to $2.3 million from $7.1 million in Q4 FY16. For the reported quarter, the segment's contribution margin decreased 53.5% to $4.0 million from $8.6 million in Q4 FY16. For the reported quarter, the segment's net economic earnings (NEE) increased 63.2% to $3.1 million from $1.9 million in Q4 FY16.
Balance Sheet
As on September 29, 2017, Spire's cash and cash equivalents increased 42.3% to $7.4 million from $5.2 million as on September 30, 2016. For the reported quarter, the Company's long-term debt increased 9.6% to $2.00 billion from $1.82 billion in Q4 FY16.
For the reported quarter, the Company's net accounts receivable increased 23% to $271.4 million from $220.7 million in Q4 FY16. For the reported quarter, the Company's accounts payable increased 21.9% to $257.1 million from $210.9 million in Q4 FY16.
During FY17, the Company's net cash provided by operating activities decreased 12.2% to $288.3 million from $328.3 million in FY16.
On November 14, 2017, the Company's Board of Directors declared a quarterly dividend of $2.25 per share payable on January 03, 2018, to shareholders of record on December 11, 2017.
Stock Performance Snapshot
December 27, 2017 - At Wednesday's closing bell, Spire's stock advanced 1.02%, ending the trading session at $74.50.
Volume traded for the day: 138.23 thousand shares.
Stock performance in the previous six-month period - up 6.58%; past twelve-month period - up 14.97%; and year-to-date - up 15.41%
After yesterday's close, Spire's market cap was at $3.58 billion.
Price to Earnings (P/E) ratio was at 21.18.
The stock has a dividend yield of 3.02%.
The stock is part of the Utilities sector, categorized under the Gas Utilities industry. This sector was up 0.5% at the end of the session.
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