Investor Story

Spire is a financially strong natural gas services provider that is successfully executing on its strategy to deliver growth. At our core, we are a gas company. We operate five gas utilities that serve 1.7 million customers across Missouri, Alabama and Mississippi. We are the fifth largest publicly traded gas utility in the country based on customers served.

"We have the industry expertise, experienced management team, financial strength and strategy for growth that have combined to deliver increasing value to shareholders."Steve RascheExecutive Vice President and Chief Financial Officer

Why invest?

Growing cash flow and earnings

Solid balance sheet, ample liquidity and strong investment-grade credit ratings

Outlook for long-term annual EPS growth of 4% – 6%

2017 EPS guidance of $3.50 – $3.60

Strong track record of increasing dividends

Why invest?

We have the industry expertise, the growth strategy, the financial strength and the experienced management team that have combined to deliver increasing value to shareholders.

Growing our gas utility business

We have increased the scale of our gas utility business through acquisitions of Missouri Gas Energy in 2013, Alagasco in 2014 and Mobile Gas and Willmut Gas in 2016. We are increasing revenues and margins through effective integration and organic growth initiatives.

Growing our gas utility business

Growing customers and improving retention

Increasing market penetration and commercial load from successful conversions

Achieving cost efficiencies through technology and process improvement

Increasing capital investment

We are using our strong cash flow and liquidity to grow through increasing capital investment, mainly for prudent infrastructure upgrades. These upgrades improve safety and reliability while lowering operating costs. We recover more than 70% of our gas utility capital investment with minimal regulatory lag.

Increasing capital investment
Modernizing our gas assets

As a gas utility, our first priority is to provide safe, reliable and economical gas service. To help fulfill this commitment, we are modernizing our gas assets with the goals of:

Providing a better, more diverse portfolio of gas supply assets

Improving reliability, resiliency and access to lower cost shale gas

Optimizing our supply and transportation portfolios

Spire STL Pipeline

In 2016, we launched the Spire STL Pipeline project to bring our St. Louis customers abundant and affordable shale gas from the Marcellus and Utica producing region in the northeast. Learn more here.

A 70-mile pipeline with capacity of 400 MMcf/d
Interconnects with Rockies Express Pipeline
Total project cost estimated at $190-$210 million
Expected FY19 in-service date
Gas Marketing

Spire Marketing provides non-regulated natural gas sales and services to a diverse customer base primarily in the central United States.

Optimizes its gas supply and transportation contracts, and 5.4 Bcf of leased storage

Consistently contributes to earnings – $6.4 million in FY16

Investing in innovation

Spire provides end-to-end compressed natural gas (CNG) fueling solutions. We design, own and operate public CNG stations with anchor customer contracts.

Focused on return-to-base fleets and Class 8 tractor trailer market

Currently operate stations at Lambert-St. Louis International Airport and in Greer, South Carolina in the high-traffic corridor near I-85 and Highway 101

Increasing dividends

Strong earnings and cash flow have also enabled us to deliver increasing value to our shareholders through paying an attractive and growing dividend.

Increasing dividends

14 consecutive years of increases

72 years of continuous payment

Conservative payout targeted at 55% - 65% of earnings

Attractive dividend yield

7.1% increase in 2017