Spire (NYSE:SR) Announces Earnings Results

Key Points

• Spire beat quarterly expectations: The utility reported an adjusted loss of $0.26 per share, $0.06 better than consensus, while revenue rose 19.2% year over year to $420.2 million.
• Management reaffirmed its outlook and investment plans: Fiscal 2026 EPS guidance remains $3.90–$4.10, with a $5.40–$5.60 target for fiscal 2027 and a long-term 5%–7% adjusted EPS growth goal. Spire is pursuing an approximately $11.2 billion, 10-year capital plan.
• Shares offer a 4.1% dividend yield: Spire declared a quarterly dividend of $0.825 per share, or $3.30 annualized. Analysts rate the stock “Moderate Buy,” with an average price target of $94.50.

Spire (NYSE:SR - Get Free Report) posted its earnings results on Wednesday. The utilities provider reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.06, FiscalAI reports. Spire had a return on equity of 9.49% and a net margin of 13.97%.The company had revenue of $420.20 million for the quarter, compared to analyst estimates of $394.62 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. Spire's revenue was up 19.2% compared to the same quarter last year. Spire updated its FY 2026 guidance to 3.900-4.100 EPS.

Here are the key takeaways from Spire's conference call:

• Fiscal 2026 and 2027 EPS guidance was reaffirmed at $3.90–$4.10 and $5.40–$5.60, respectively, alongside the long-term 5%–7% adjusted EPS growth target.
• Spire completed the divestitures of its marketing and storage businesses, creating a more focused, fully regulated utility profile that management says should reduce earnings volatility and improve predictability.
• The company is advancing an approximately $11.2 billion 10-year capital plan, supporting projected rate-base growth of roughly 7% and nearly $800 million of utility capital expenditures in fiscal 2026.
• Regulatory proceedings remain important catalysts, including Alabama RSE renewal hearings, Spire Tennessee’s requested $14 million revenue increase, and a planned Missouri future-test-year rate case in November 2026; management expects a potential Missouri-related EPS step-up in 2028.
• Third-quarter adjusted results remained a loss of $0.26 per share, while higher bad debt, depreciation, taxes, interest expense, and corporate costs weighed on performance despite improvement in the gas utility segment.

Spire Stock Up 0.6%

SR stock traded up $0.50 during midday trading on Wednesday, hitting $80.06. 219,543 shares of the company's stock were exchanged, compared to its average volume of 447,919. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.69. Spire has a 12-month low of $73.91 and a 12-month high of $95.31. The firm has a 50 day moving average price of $80.37 and a 200-day moving average price of $86.00. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.79 and a beta of 0.52.

Spire Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, September 11th. This represents a $3.30 annualized dividend and a dividend yield of 4.1%. Spire's dividend payout ratio (DPR) is currently 58.00%.

Wall Street Analyst Weigh In

SR has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $85.00 price target (up from $84.00) on shares of Spire in a report on Friday, June 26th. Wolfe Research began coverage on shares of Spire in a research report on Tuesday, May 26th. They set a "peer perform" rating on the stock. TD Cowen initiated coverage on shares of Spire in a research note on Thursday, April 16th. They issued a "hold" rating and a $101.00 target price for the company. UBS Group cut their price target on Spire from $106.00 to $103.00 and set a "buy" rating for the company in a report on Friday, May 8th. Finally, Mizuho started coverage on Spire in a research note on Tuesday, July 7th. They set an "outperform" rating and a $88.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Spire currently has an average rating of "Moderate Buy" and an average target price of $94.50.

Insider Buying and Selling at Spire

In related news, SVP Ryan L. Hyman sold 3,822 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $80.51, for a total value of $307,709.22. Following the completion of the sale, the senior vice president directly owned 14,295 shares of the company's stock, valued at $1,150,890.45. The trade was a 21.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul D. Koonce bought 500 shares of the company's stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $78.46 per share, for a total transaction of $39,230.00. Following the completion of the acquisition, the director directly owned 8,000 shares of the company's stock, valued at $627,680. This trade represents a 6.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 3,000 shares of company stock worth $251,100 over the last ninety days. 2.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spire

A number of institutional investors and hedge funds have recently bought and sold shares of SR. Los Angeles Capital Management LLC bought a new stake in shares of Spire in the 4th quarter worth $25,000. Headlands Technologies LLC bought a new position in Spire during the second quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new position in Spire during the fourth quarter valued at about $43,000. Smartleaf Asset Management LLC grew its holdings in Spire by 40.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 519 shares of the utilities provider's stock worth $43,000 after acquiring an additional 149 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Spire by 1,031.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 611 shares of the utilities provider's stock worth $45,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 87.36% of the company's stock.

Spire Company Profile

Spire Inc NYSE: SR, formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.

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