SPX3,998.84-72.86 -1.79%
DIA340.03-4.71 -1.37%
IXIC11,239.94-221.56 -1.93%

Spire Sees Long-Term Adj. EPS Growth Of 5% - 7%, Sees FY23 Capex $700M

Benzinga · 11/16/2022 08:04

Guidance and Outlook

We remain confident in our long-term ability to grow NEE per share 5-7% given our growth strategy across our businesses.

We are updating and expanding our targeted capital investment to include a 10-year period through fiscal 2032, with total expenditures expected to be $7.0 billion. The plan is driven by our commitment to invest in upgrades to our gas utility pipelines and infrastructure, comprising nearly all of the spend during that period. We expect our capital plan to drive 7-8% annual rate base growth for our utilities. This plan also includes the investment over the next two fiscal years to expand Spire Storage as outlined earlier in the year.

Capital expenditures for fiscal 2023 are expected to be approximately $700 million, including $150 million for our midstream businesses, primarily for the Spire Storage expansion.