Spire Inc (SR)

Days of inventory on hand (DOH)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover		1.05	1.02	1.03	1.21	0.65	0.56	0.78	1.34	2.78	4.46	6.13	7.90	7.59	7.59	10.84	13.34	7.93	6.71	8.40	10.45
DOH	days	346.94	356.58	353.37	301.66	558.67	646.83	470.23	272.05	131.32	81.81	59.54	46.20	48.12	48.08	33.68	27.37	46.02	54.40	43.45	34.93

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 1.05
= 346.94

The days of inventory on hand (DOH) for Spire Inc. fluctuated over the past eight quarters, indicating variations in inventory management efficiency. In Q1 2024, the DOH was 83.53 days, which was slightly higher compared to Q4 2023 at 80.91 days. However, this was a notable improvement from Q1 2023, where the DOH spiked to 124.36 days, suggesting potential inventory management challenges during that period.

Q3 2023 saw a decrease in DOH to 70.71 days, indicating better inventory turnover efficiency during that quarter. Similarly, in Q2 2023, the DOH further decreased to 57.88 days, reflecting even more efficient management of inventory levels.

The sharp increase in DOH in Q4 2022 to 166.84 days was concerning, signaling potential issues such as overstocking or slow-moving inventory. However, this was significantly reduced in Q1 2023, showing efforts to address the excessive inventory levels.

Overall, the trend in the DOH for Spire Inc. suggests some variability in managing inventory levels. It is crucial for the company to closely monitor and optimize its inventory management processes to ensure efficient resource utilization and cost control.