Investor Presentaiton
FY23 net economic earnings
Millions
Per diluted
common share
Twelve months ended September 30,
2023
2022
2023
2022
Net Income [GAAP]
$
Fair value and timing adjustments, pre-tax
11.4
217.5 $ 220.8
(11.4)
$ 3.85 $ 3.95
0.21
(0.22)
Acquisition activities, pre-tax
2.5
0.05
Income tax effect of adjustments
(3.3)
6.9
(0.06)
0.13
Net Economic Earnings (NEE)¹
$
228.1 $ 216.3
$
4.05 $
3.86
NEE by segment
Gas Utility
Gas Marketing
Midstream
Other
Average diluted shares outstanding
•
•
•
$ 200.5 $ 202.7
47.6
27.0
14.1
11.1
(34.1)
(24.5)
52.6
52.1
Full-year results are $11.8M ($0.19 per share) above prior year
Gas Utility decreased $2.2M, reflecting higher interest partially offset by benefits from new rates in
MO and AL
Favorable market conditions that benefitted both Marketing (+$20.6M) and Midstream (+$3.0M)
•
Higher interest and corporate costs
¹See net economic earnings reconciliation to GAAP in the Appendix.
20 Spire | Investor presentation December 2023
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