Spire Inc. (NYSE:SR) Q1 2015 Earnings Conference Call - Final Transcript
Feb 04, 2015 • 09:00 am ET
Good day and welcome to today's are entitled to Group first quarter fiscal 2015 earnings webcast. My name is Caroline and I will be your event specialist today at the end of today.
presentation, we will have a question-and-answer session and questions will be taken over the telephone conference. (Operator Instructions) Additional instructions will follow at that time. It is now my pleasure to turn today's webcast over to Scott Dudley, Managing Director of Investor Relations. Scott, the floor is yours.
Well, thank you and good morning and welcome to the earnings conference call for the first quarter of fiscal 2015. We issued a news release this morning announcing our finance results and you may access that release on our website at thelacledegroup.com and that'll be under the News Releases tab. Today's call is scheduled for one hour and will include a discussion of our results and as mentioned the question-and-answer session at the end. Prior to opening up the call for questions, the operator will again provide instructions on how to join the queue to ask your question.
Presenting on our call today are Suzanne Sitherwood, President and CEO; and Steve Rasche, Executive Vice President and CFO. Also in the room with us today is Steve Lindsey, Executive Vice President and Chief Operating Officer of Distribution Operations.
Before we begin, let me cover our Safe Harbor statement and use of non-GAAP earnings measures. Today's earnings conference call, including responses during the Q&A session, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements speak only as of today, and we assume no duty to update them.
Although our forward-looking statements are based on reasonable assumptions, various uncertainties and risk factors may cause future performance or results to be different than those anticipated. A description of the uncertainties and risk factors can be found in our annual report on Form 10-K and quarterly report on Form 10-Q, which will be filed later today. In our comments, we will be discussing financial results in terms of net economic earnings and operating margin, which are non-GAAP measures used by management when evaluating the company's performance.
Net economic earnings exclude from net income the after-tax impacts of fair value accounting and timing adjustments associated with energy related transactions as well as the impacts related to acquisition divestiture and restructuring activities including costs related to the acquisition and integration of Missouri gas energy and Alabama Gas Corporation. Operating margin, adjust operating income to include only those costs that are we passed on to customers and collected through revenues, which are the wholesale cost of natural gas and propane and gross receipts taxes.
A full explanation of the adjustments and a reconciliation of these non-GAAP measures to their GAAP counterparts are contained in the news release, we issued this morning. So, with that I will turn the call over to Suzanne.
Thank you, Scott. And I welcome native [ph] joined us this morning. After completing a very