Highlights

  • Fiscal third quarter 2026 net income was $211.2 million, compared with $20.9 million, including a $254.6 million after-tax divestiture gain.
  • Net loss from continuing operations was $42.6 million, or $0.72 per diluted share, for the quarter ended June 30, 2026.
  • Spire completed the Tennessee natural gas acquisition on March 31, 2026 for a total cash purchase price of $2.50 billion.
  • Management expects adjusted earnings per share of $3.90 to $4.10 for fiscal 2026 and $5.40 to $5.60 for fiscal 2027.

Spire Inc. (NYSE: SR) shares were trading at USD 85.47 on October 27, 2026, down 0.32%, with a relative volume at time of 2.21. The natural gas utility holding company completed its Tennessee acquisition on March 31, 2026, closed the sale of Spire Storage on June 30, 2026, and reported fiscal third quarter 2026 results on August 5, 2026 with guidance for fiscal 2026 and 2027.

Spire Inc. is a Missouri corporation with principal executive offices at 700 Market Street in St. Louis, Missouri. After its recent transactions, it reports one segment, Gas Utility, which includes Spire Missouri, Spire Alabama, Spire Tennessee and Spire EnergySouth, whose subsidiaries are Spire Gulf and Spire Mississippi. Spire Tennessee serves more than 200,000 customers in the Nashville area. Earnings are typically concentrated in the November through April heating season. Its fiscal year ends September 30.

Fiscal Third Quarter 2026 Results

The Form 10-Q covers the quarter ended June 30, 2026 and reports unaudited results. Net income was $211.2 million, or $3.57 per diluted share, compared with $20.9 million, or $0.29. The company said the increase was largely due to net income from discontinued operations, which included a $254.6 million after-tax gain on the sale of Spire Marketing and Spire Storage.

Continuing operations produced a net loss of $42.6 million, or $0.72 per diluted share. The company said net loss from continuing operations increased $29.3 million, reflecting improved results at Spire Missouri and Spire Alabama that were offset by a $6.9 million loss at Spire Tennessee, higher corporate expenses and higher interest primarily related to acquisition activity. Operating revenues were $420.2 million, compared with $352.5 million.

On a non-GAAP basis, adjusted loss was $15.7 million, or $0.26 per diluted share, and the Gas Utility segment adjusted loss was $3.2 million, compared with $10.0 million a year earlier. For the nine months ended June 30, 2026, net income was $588.4 million, or $9.70 per diluted share, compared with $311.5 million, or $5.13.

Transactions, Financing and Cash Flow

Spire Marketing was sold to Boardwalk for approximately $212 million in cash, closing April 30, 2026. Spire Storage was sold to an affiliate of I Squared Capital for total consideration of approximately $657 million, consisting of $607 million in cash and a $50 million deferred payment due on or before September 30, 2027. On April 21, 2026, Spire agreed to sell Spire Mississippi to Delta Utilities for $75.0 million in cash, expected to close in the first quarter of fiscal 2027 subject to regulatory approval.

Financing for the nine months included $3,322.4 million of borrowings, issuance of $200.0 million of junior subordinated notes, issuance of $400.0 million of 4.6% senior notes due 2031 and an $800.0 million delayed draw term loan that was repaid. The company also redeemed $250.0 million of preferred shares. Net cash provided by operating activities was $613.6 million, compared with $582.9 million. As of June 30, 2026, it could sell additional shares with an aggregate offering price of up to $123.6 million under its at-the-market program.

Fiscal 2026 and 2027 Outlook

On the August 5, 2026 call, management said it expects fiscal 2026 adjusted earnings per share from continuing operations of $3.90 to $4.10, including Spire Mississippi and excluding the Tennessee operations. It said it expects fiscal 2027 adjusted earnings per share of $5.40 to $5.60, with a full year of Tennessee earnings. Both are non-GAAP measures.

Management also said it expects fiscal 2026 capital expenditures of $800 million and described a capital investment plan of $11.2 billion through fiscal 2035. It reported funds from operations to debt of 13% as of June 30, 2026 and a target of 14% to 15% by the end of fiscal 2028, and said 2026 is a transition year for its credit metrics.