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Higher utility, marketing segment results shore up Spire fiscal Q3 earnings

Spire Inc. on Aug. 2 posted net economic earnings of $21.6 million, or 44 cents per share, in the fiscal third quarter, an increase from $14.6 million, or 33 cents per share, a year ago.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal third quarter was 38 cents.

GAAP earnings were $21.7 million, or 45 cents per share, an increase from $10.7 million, or 24 cents per share, in the same quarter a year earlier.

Operating revenues was $323.5 million, up from $249.3 million a year earlier. Contribution margin was $208.9 million, an increase from $177.3 million a year earlier.

Spire continues to target fiscal 2017 net economic earnings in the range of $3.50 per share to $3.60 per share. The S&P Capital IQ consensus normalized EPS guidance for the year is $3.53.