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Spire Q4 Loss Narrows, But Misses Estimates; Ups Dividend - Update

(Adds dividend)

Spire Inc. (SR) released Loss for fourth quarter that decreased from last year and beat the Street estimates.

The company's bottom line totaled -$7.1 million, or -$0.20 per share. This compares with -$9.9 million, or -$0.26 per share, in last year's fourth quarter.

Excluding items, Spire Inc. reported adjusted earnings of -$31.4 million or -$0.66 per share for the period.

Analysts on average had expected the company to earn -$0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.3% to $314.2 million from $290.2 million last year.

dividend:

Spire has raised its quarterly dividend by 5.1 percent, to $0.72 per share. This increases the annualized rate by $0.14 per share to $2.88 per share. The dividend is payable on January 4, 2023, to shareholders of record on December 12.

Spire Inc. earnings at a glance (GAAP) :

-Earnings (Q4): -$7.1 Mln. vs. -$9.9 Mln. last year.
-EPS (Q4): -$0.20 vs. -$0.26 last year.
-Analyst Estimates: -$0.64
-Revenue (Q4): $314.2 Mln vs. $290.2 Mln last year.

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