Spire Inc. (NYSE:SR) Q3 2024 Earnings Call Transcript July 31, 2024 9:00 AM ET
Company Participants
Megan McPhail - MD of IR
Steve Lindsey - President and CEO
Scott Doyle - EVP and COO
Steve Rasche - EVP and CFO
Adam Woodard - VP and Treasurer
Conference Call Participants
Richard Sunderland - JPMorgan
David Arcaro - Morgan Stanley
Gabe Moreen - Mizuho
Selman Akyol - Stifel
Paul Fremont - Ladenburg
Operator
Good morning, and welcome to Spire's Fiscal 2024 Third Quarter Earnings Conference Call. Today, all participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that today's event is being recorded. I would now like to turn the conference over to Megan McPhail, Managing Director of Investor Relations. Please proceed.
Megan McPhail
Good morning, and welcome to Spire's fiscal 2024 third quarter earnings call. We issued an earnings release this morning you may access on our website at spireenergy.com. There is a slide presentation that accompanies our webcast, and you may download it from either the webcast site or from our website.
Before we begin, let me cover our safe harbor statement and use of non-GAAP earnings measures. Today's call, including responses to questions, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although our forward-looking statements are based on reasonable assumptions, there are various uncertainties and risk factors that may cause future performance or results to be different than those anticipated. These risks and uncertainties are outlined in our quarterly and annual filings with the SEC.
In our comments, we will be discussing non-GAAP measures used by management when evaluating our performance and results of operations. Explanations and reconciliations of these measures to their GAAP counterparts are contained in both our news release and slide presentation.
On the call today is Steve Lindsey, President and CEO; Scott Doyle, Executive Vice President and COO; and Steve Rasche, Executive Vice President and CFO. Also in the room today is Adam Woodard, Vice President and Treasurer.
With that, I will turn the call over to Steve Lindsey. Steve?
Steve Lindsey
Thanks, Megan, and good morning, everyone. We appreciate you joining us for Spire's fiscal third quarter earnings call for a review of our quarterly performance and an update on recent developments and outlook.
Turning to Slide 3. Let's start with our quarterly results. This morning, we reported a net economic earnings or NEE basis, fiscal third quarter loss of $0.14 per share compared to an NEE loss of $0.42 per share a year ago. The improvement year-over-year reflected improved results across all of our business segments. Scott and Steve will provide a deeper dive into these results and an outlook in a moment. Throughout the year, we have maintained our focus on cost management and creating efficiencies across the organization. This is important as we strive to keep build as low as possible for our customers. This past quarter, we heightened these efforts and launched an initiative to improve long-term customer affordability. These efforts are targeted at lowering our overall cost structure and improving operational efficiency, securing the benefits of our investments in technology and infrastructure upgrades. Most of the benefits of this work will come in fiscal years 2025 and 2026.