Spire’s FY2024 performance centers on disciplined utility earnings and a substantial, utility-centric 10-year capital expenditure program. The company reported adjusted FY2024 earnings per share (EPS) of $4.13, up 0.08 from the prior year, driven by Gas Utilities and Midstream strength, offset by weaker Gas Marketing results and higher corporate costs in Q4. The board approved a 4% dividend increase to an annualized $3.14 per share, underscoring management’s confidence in the long-run cash-flow profile and capital plan. Management reiterated a long-term EPS growth target of 5–7% and issued FY2025 adjusted EPS guidance of $4.40–$4.60, signaling mid-high single-digit to low-double-digit growth at the midpoint versus 2024 actuals, with ongoing leverage to rate-base expansion and regulatory recovery mechanisms. The 10-year CapEx plan was updated to $7.4 billion (roughly 98% allocated to Gas Utilities), fueling anticipated 7–8% rate base growth at Spire Missouri and substantial downstream benefits from meter deployments and storage expansion.