Spire (NYSE:SR) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Spire reported Q2 adjusted EPS of $3.76, beating estimates by $0.04, and reaffirmed FY2026 guidance of $3.90–$4.10 while keeping a 5%–7% long‑term EPS growth target supported by an $11.2 billion 10‑year capital plan.
• Spire completed the Spire Tennessee acquisition (adding ~200,000 customers) on March 31, funding the deal without issuing common equity and financing it via divestitures of non‑core assets to simplify into a fully regulated utility.
• An unusually mild winter drove materially lower Missouri usage and a margin shortfall, prompting an Accounting Authority Order filing with the Missouri PSC (hearing set for Sept. 9) and contributing to reduced near‑term gas utility guidance and a lowered FFO‑to‑debt target of 14%–15%.

Spire (NYSE:SR - Get Free Report) posted its quarterly earnings data on Wednesday. The utilities provider reported $3.76 EPS for the quarter, topping analysts' consensus estimates of $3.72 by $0.04, FiscalAI reports. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.07 billion. Spire had a return on equity of 9.43% and a net margin of 10.95%.The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.60 EPS.

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

• Completed the Spire Tennessee acquisition on March 31, adding more than 200,000 customers in the greater Nashville area, with the transaction fully funded without issuing common equity and integration already underway.
• Divested non-core assets—Marketing (closed April 30) and announced sales of Storage and Spire Mississippi—to raise proceeds that funded the Tennessee purchase and simplify Spire into a fully regulated utility-focused company.
• Reported Q2 continuing-operations adjusted EPS of $3.76 (vs. $3.17 prior year), reaffirmed FY2026 guidance of $3.90–$4.10, and maintained a 5%–7% long-term EPS growth target supported by an $11.2 billion 10-year capital plan.
• An unusually mild and uneven winter produced materially lower Missouri usage and a margin shortfall, prompting an Accounting Authority Order filing with the Missouri PSC (hearing set for Sept. 9) and driving a reduction in near-term gas utility guidance.
• Full-year 2026 capital expenditures are expected to be $797 million (H1 $386 million), and management lowered its FFO-to-debt target to 14%–15% to align with the more concentrated regulated business profile.

Spire Trading Down 3.7%

Shares of SR traded down $3.30 during midday trading on Wednesday, hitting $86.51. The stock had a trading volume of 596,429 shares, compared to its average volume of 368,727. The business has a 50-day simple moving average of $91.44 and a two-hundred day simple moving average of $87.61. The firm has a market cap of $5.11 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.48 and a beta of 0.56. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 1.39. Spire has a fifty-two week low of $69.94 and a fifty-two week high of $95.31.

Spire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.30 dividend on an annualized basis and a yield of 3.8%. Spire's dividend payout ratio is currently 71.74%.

Institutional Investors Weigh In On Spire

Several hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Spire in the fourth quarter valued at $25,000. Headlands Technologies LLC acquired a new position in Spire during the second quarter valued at $38,000. IFC & Insurance Marketing Inc. purchased a new stake in Spire in the 4th quarter worth about $43,000. Smartleaf Asset Management LLC lifted its stake in Spire by 40.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 519 shares of the utilities provider's stock worth $43,000 after acquiring an additional 149 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Spire by 1,031.5% during the 2nd 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 during the period. Hedge funds and other institutional investors own 87.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SR. Weiss Ratings raised Spire from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 5th. TD Cowen began coverage on shares of Spire in a research report on Thursday, April 16th. They set a "hold" rating and a $101.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Spire from $81.00 to $87.00 and gave the stock a "hold" rating in a research note on Wednesday, January 28th. Jefferies Financial Group reiterated a "buy" rating and issued a $99.00 target price on shares of Spire in a report on Wednesday, January 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $102.00 target price on shares of Spire in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Spire presently has an average rating of "Moderate Buy" and a consensus target price of $95.11.

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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