Spire Reports FY23 Third Quarter Results

 

Net Economic Earnings and Reconciliation to GAAP


(In Millions, except per share amounts)


Gas Utility



Gas Marketing



Midstream



Other



Total



Per Diluted Common Share (2)


Three Months Ended June 30, 2023

























Net (Loss) Income [GAAP]


$

(12.4)



$

(4.9)



$

3.1



$

(7.4)



$

(21.6)



$

(0.48)


Adjustments, pre-tax:

























Fair value and timing adjustments



0.2




3.2










3.4




0.06


Acquisition activities









0.5







0.5




0.01


Income tax adjustments (1)



(0.1)




(0.8)










(0.9)




(0.01)


Net Economic (Loss) Earnings [Non-GAAP]


$

(12.3)



$

(2.5)



$

3.6



$

(7.4)



$

(18.6)



$

(0.42)



























Three Months Ended June 30, 2022

























Net Income (Loss) [GAAP]


$

4.2



$

(5.1)



$

4.3



$

(4.8)



$

(1.4)



$

(0.10)


Adjustments, pre-tax:

























Fair value and timing adjustments






7.3










7.3




0.14


Income tax adjustments (1)






(1.8)










(1.8)




(0.03)


Net Economic Earnings (Loss) [Non-GAAP]


$

4.2



$

0.4



$

4.3



$

(4.8)



$

4.1



$

0.01



























Nine Months Ended June 30, 2023

























Net Income (Loss) [GAAP]


$

234.0



$

28.9



$

11.1



$

(25.4)



$

248.6



$

4.51


Adjustments, pre-tax:

























Fair value and timing adjustments



0.7




21.5










22.2




0.42


Acquisition activities









0.5







0.5




0.01


Income tax adjustments (1)



(0.2)




(5.4)










(5.6)




(0.11)


Net Economic Earnings (Loss) [Non-GAAP]


$

234.5



$

45.0



$

11.6



$

(25.4)



$

265.7



$

4.83



























Nine Months Ended June 30, 2022

























Net Income (Loss) [GAAP]


$

236.5



$

(0.4)



$

9.8



$

(18.0)



$

227.9



$

4.16


Adjustments, pre-tax:

























Fair value and timing adjustments






20.9










20.9




0.40


Income tax adjustments (1)



4.1




(5.2)










(1.1)




(0.02)


Net Economic Earnings (Loss) [Non-GAAP]


$

240.6



$

15.3



$

9.8



$

(18.0)



$

247.7



$

4.54



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