Spire (NYSE:SR), a leading natural gas distributor, announced a $29.6 million loss in its fiscal fourth quarter, falling short of analysts’ expectations.
The loss translates to 51 cents per share, or 54 cents per share, when adjusted for non-recurring gains.
Analysts surveyed by Zacks Investment Research had anticipated a narrower loss of 52 cents per share.
Revenue for the quarter came in at $293.8 million, also below Wall Street’s expectations of $317.3 million, as compiled by Zacks.
The disappointing results underscore a challenging period for the St. Louis-based utility, which struggled to meet revenue and profit targets amid fluctuating energy markets.
For the full fiscal year, Spire reported a net profit of $250.9 million, or $4.19 per share, on revenue of $2.59 billion.
Looking ahead, the company remains optimistic, projecting full-year earnings in the range of $4.40 to $4.60 per share.