Spire Lowers Its FY23 Net Economic EPS Guidance Range To $4.15–$4.25 From $4.20–$4.30
Portfolio Pulse from Benzinga Newsdesk
Spire has lowered its FY23 Net Economic EPS guidance range to $4.15–$4.25 from $4.20–$4.30 due to lower margins in its gas utilities. The company remains confident in its long-term growth strategy and plans to invest in infrastructure upgrades, new business, and innovation. The targeted capital investment for the 10-year period through fiscal 2032 remains $7 billion.
August 04, 2023 | 10:58 am
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Spire has lowered its FY23 Net Economic EPS guidance, which could negatively impact investor sentiment and potentially lead to a short-term decrease in the company's stock price.
Companies often see their stock prices decrease in the short term when they lower their earnings guidance, as this can signal potential issues with profitability or growth. In Spire's case, the lower guidance is due to lower margins in its gas utilities, which could negatively impact investor sentiment.
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