Spire Inc. (NYSE:SR) Q4 2023 Earnings Call Transcript

Hopefully, that helps.

Unidentified Analyst: No, it does. Thank you. And then on the utility, your initial 2023 net economic earnings guidance was about $230 million at the midpoint. And this year for FY ’24, you’re guiding to the midpoint of $235 million. Taking each one is normalized, that implies something like low single-digit growth year-over-year. Is there some conservatism built into that estimate? Or are you perhaps seeing lags different in Missouri? Just wanted some color on there, if you can provide it.

Adam Woodard: Yes, Tanner, this is Adam. I would look back to ‘22 and see the pull-through over a couple of years. Obviously, we came out of back to bad cases in Missouri. And so it’s a little — it gets a little obscured, but we didn’t get to where we initially wanted to be this year in the utility lot of that, you know, some of that is just a pull-through both in Alabama and Missouri. But we do see that on a two-year basis, looking like it was — would meet our expectations. But I wouldn’t characterize it as conservative or aggressive.

Unidentified Analyst: Understood, great. Thank you very much guys.

Operator: [Operator Instructions] There are no further questions. I’d like to turn the conference back over to Scott Dudley for any closing remarks.

Scott Dudley: Thank you all for joining us. We’ll be around for the rest of the day for any follow-ups. Thanks for being with us.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.