Spire Lowers Its FY23 Net Economic EPS Guidance Range To $4.15–$4.25 From $4.20–$4.30

Guidance and Outlook

We remain confident in our long-term ability to grow NEE per share 5–7% given our growth strategy and planned capital investment in infrastructure upgrades, new business and innovation. We are adjusting our expectations for our gas utilities due to lower margins since most of our recoveries occur during the winter and early spring. While we will continue to exercise cost controls to offset a portion of this shortfall, we are reducing our fiscal 2023 NEE per share guidance range to $4.15–$4.25 and lowering the NEE range for the Gas Utility segment by $5 million.

Our targeted capital investment for the 10-year period through fiscal 2032 remains $7 billion, which is anticipated to drive 7–8% utility rate base growth. Expected capital expenditures for fiscal 2023 remain $700 million.