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Spire kicks off fiscal year with Q1 earnings growth

Spire Inc. on Feb. 1 posted adjusted net income of $57.9 million, or $1.19 per share, in the fiscal first quarter, up from $47.5 million, or $1.04 per share, a year ago.

The S&P Capital IQ consensus normalized earnings estimate for the fiscal first quarter was $1.06 per share.

GAAP earnings were $116.0 million, or $2.39 per share, an increase from $45.2 million, or 99 cents per share, in the same quarter a year earlier.

Total operating revenues was $561.8 million, an increase from $495.1 million in the comparable quarter a year ago.

Contribution margin was $262.5 million versus $244.0 million a year ago.