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Dec 31, 2025
Spire Q1 2026 Earnings Report
Spire reported its fiscal 2026 first quarter results, showing an increase in net income and adjusted earnings compared to the prior year.
Key Takeaways
Spire reported a strong first quarter for fiscal 2026, with net income rising to $95.0 million ($1.54 per diluted share) from $81.3 million ($1.34 per share) a year ago. Adjusted earnings also saw a significant increase to $108.4 million ($1.77 per share) from $81.1 million ($1.34 per share) in the previous year, driven by higher earnings in Gas Utility and Gas Marketing segments.
First quarter net income increased to $95.0 million ($1.54 per diluted share) from $81.3 million ($1.34 per share) a year ago.
Adjusted earnings rose to $108.4 million ($1.77 per share) from $81.1 million ($1.34 per share) in the prior year, an increase of $0.43 per share.
Gas Utility earnings increased due to new rates at Spire Missouri and Spire Alabama, despite lower volumetric margin.
Fiscal 2026 adjusted earnings guidance range of $5.25-$5.45 and fiscal 2027 adjusted earnings guidance range of $5.65-$5.85 were affirmed.
Revenue by Segment
Forward Guidance
Spire maintains its fiscal 2026 adjusted earnings guidance of $5.25-$5.45 per share and fiscal 2027 adjusted EPS guidance of $5.65-$5.85, reflecting anticipated contributions from the Piedmont Natural Gas Tennessee business and planned divestitures.
Positive Outlook
- Affirmed fiscal 2026 adjusted earnings guidance range of $5.25-$5.45 per share.
- Affirmed fiscal 2027 adjusted earnings guidance range of $5.65-$5.85 per share.
- Fiscal 2027 guidance reflects a full year of earnings contributions from the Piedmont Natural Gas Tennessee business.
- 10-year $11.2 billion capital investment target through fiscal 2035 supports long-term adjusted earnings per share growth of 5-7%.
- Expected total capital expenditures for fiscal 2026 remain $809 million, indicating continued investment.
Challenges Ahead
- Fiscal 2026 guidance excludes results from the pending acquisition of Piedmont Natural Gas Tennessee business.
- Fiscal 2027 guidance excludes earnings from Spire's natural gas storage facilities due to expected sale of assets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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