Spire Reports FY23 Third Quarter Results

 

(1) Income tax adjustments include amounts calculated by applying federal, state, and local income tax rates applicable to ordinary income to the amounts of the pre-tax reconciling items, and for the nine months ended June 30, 2022, include a Spire Missouri regulatory adjustment.


(2) Net economic earnings per share is calculated by replacing consolidated net income with consolidated net economic earnings in the GAAP diluted EPS calculation, which includes reductions for cumulative preferred dividends and participating shares.

 

Contribution Margin and Reconciliation to GAAP


(In Millions)


Gas Utility



Gas Marketing



Midstream



Other



Eliminations



Consolidated


Three Months Ended June 30, 2023

























Operating Income (Loss) [GAAP]


$

13.9



$

(7.1)



$

6.5



$

(1.3)



$



$

12.0


Operation and maintenance expenses



111.7




4.2




8.1




5.5




(4.0)




125.5


Depreciation and amortization



61.7




0.3




2.1




0.2







64.3


Taxes, other than income taxes



45.9




0.4




0.7




(0.1)







46.9


Less: Gross receipts tax expense



(26.0)
















(26.0)


Contribution Margin [Non-GAAP]



207.2




(2.2)




17.4




4.3




(4.0)




222.7


Natural gas costs



154.6




25.3










(10.1)




169.8


Gross receipts tax expense



26.0
















26.0


Operating Revenues


$

387.8



$

23.1



$

17.4



$

4.3



$

(14.1)



$

418.5



























Three Months Ended June 30, 2022

























Operating Income (Loss) [GAAP]


$

36.8



$

(6.9)



$

7.4



$

0.6



$



$

37.9


Operation and maintenance expenses



95.0




3.2




4.8




3.2




(3.9)




102.3


Depreciation and amortization



58.1




0.3




1.8




0.2







60.4


Taxes, other than income taxes



43.0




0.4




0.6




0.1







44.1


Less: Gross receipts tax expense



(23.2)




(0.1)













(23.3)


Contribution Margin [Non-GAAP]



209.7




(3.1)




14.6




4.1




(3.9)




221.4


Natural gas costs



144.5




67.1










(8.3)




203.3


Gross receipts tax expense



23.2




0.1













23.3


Operating Revenues


$

377.4



$

64.1



$

14.6



$

4.1



$

(12.2)



$

448.0



























Nine Months Ended June 30, 2023

























Operating Income (Loss) [GAAP]


$

367.1



$

36.7



$

21.1



$

(2.4)



$



$

422.5


Operation and maintenance expenses



350.9




16.2




20.1




14.4




(11.9)




389.7


Depreciation and amortization



181.6




1.0




6.0




0.4







189.0


Taxes, other than income taxes



176.2




1.1




1.9










179.2


Less: Gross receipts tax expense



(116.4)




(0.2)













(116.6)


Contribution Margin [Non-GAAP]



959.4




54.8




49.1




12.4




(11.9)




1,063.8


Natural gas costs



1,099.5




102.8










(26.8)




1,175.5


Gross receipts tax expense



116.4




0.2













116.6


Operating Revenues


$

2,175.3



$

157.8



$

49.1



$

12.4



$

(38.7)



$

2,355.9



























Nine Months Ended June 30, 2022

























Operating Income (Loss) [GAAP]


$

361.6



$

(0.4)



$

17.2



$



$



$

378.4


Operation and maintenance expenses



306.5




9.1




16.4




11.6




(11.7)




331.9


Depreciation and amortization



169.2




1.0




5.6




0.4







176.2


Taxes, other than income taxes



150.3




0.8




2.1




0.1







153.3


Less: Gross receipts tax expense



(96.8)




(0.3)













(97.1)


Contribution Margin [Non-GAAP]



890.8




10.2




41.3




12.1




(11.7)




942.7


Natural gas costs



710.7




160.9










(27.1)




844.5


Gross receipts tax expense



96.8




0.3













97.1


Operating Revenues


$

1,698.3



$

171.4



$

41.3



$

12.1



$

(38.8)



$

1,884.3



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