Spire Inc (SR)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	249,800	256,300	416,900	441,800	436,000	397,500	359,000	367,800	386,900	424,300	326,000	200,800	131,200	101,000	80,200	194,200	218,400	219,100	220,200	257,700
Revenue (ttm)	US$ in thousands	2,416,200	2,524,200	2,541,800	2,588,700	2,365,900	2,078,700	2,060,900	1,943,100	2,168,800	2,128,900	2,093,600	2,087,400	1,696,600	1,749,900	1,748,800	1,775,400	1,890,600	1,952,400	1,966,000	1,995,300
Pretax margin		10.34%	10.15%	16.40%	17.07%	18.43%	19.12%	17.42%	18.93%	17.84%	19.93%	15.57%	9.62%	7.73%	5.77%	4.59%	10.94%	11.55%	11.22%	11.20%	12.92%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $249,800K ÷ $2,416,200K
= 10.34%

Spire Inc.'s pretax margin has exhibited some fluctuations over the past eight quarters. The trend shows a general decrease from a high of 13.81% in Q2 2022 to a low of 9.57% in Q1 2024. The pretax margin decreased gradually from Q2 2022 to Q1 2023, showing a decline in profitability. However, there was a slight uptick in Q2 2023, followed by a significant drop in Q3 2023. The margin improved in Q4 2023 but then decreased again in Q1 2024.

Overall, the pretax margin for Spire Inc. has been somewhat volatile, with a general trend of decline since Q2 2022. This may indicate challenges in controlling costs or maintaining revenue levels, which could impact the company's overall financial performance.