#United States #St. Louis #Energy Sector #fiscal results #Spire Inc.

Spire Inc. Reports Fiscal 2025 Results

On November 14, 2025, Spire Inc. (NYSE: SR) released its financial results for the fiscal year ending September 30, 2025. The company reported a strong net income of $271.7 million, equivalent to $4.37 per diluted share, marking a notable increase from $250.9 million, or $4.19 per share, in the previous fiscal year. This performance is reflective of Spire's continued robust operational strategies and growth initiatives.

Key Highlights

The highlights from Spire's fiscal performance include:

• - Net income: $271.7 million (up from $250.9 million in fiscal 2024)
• - Adjusted earnings: $275.5 million, or $4.44 per share (compared to $247.4 million, or $4.13 per share, in 2024)
• - 2026 EPS guidance: Projected adjusted earnings per share in the range of $5.25 to $5.45
• - 2027 EPS guidance: Expected adjusted earnings per share between $5.65 and $5.85
• - Dividend growth: Increased by 5.1%, marking the 23rd consecutive year of dividend growth

Financial Overview

Spire's consolidated adjusted earnings per share for fiscal 2025 reached $4.44, up 7.5% compared to $4.13 the previous year. This growth stems from several key factors:

• - Gas Utility: Adjusted earnings increased to $231.4 million, primarily driven by new rate structures implemented in Spire Alabama and increased infrastructure surcharge revenues in Spire Missouri. Though usage dipped slightly, operational improvements helped maintain strong margins.
• - Midstream Operations: Earnings surged to $56.3 million from $33.5 million the prior year, attributed to new storage capacities and contract renewals benefiting from higher rates.
• - Gas Marketing: This segment also saw a rise in earnings to $25.9 million due to effective positioning amidst changing market conditions.

Scott Doyle, Spire’s President and CEO, expressed confidence in the company’s direction, stating, "Spire's solid performance in fiscal 2025 reflects our disciplined approach to growth, operational excellence, and continuous improvement." Doyle highlighted the importance of strategic priorities, citing the Missouri rate case as a key element of their success and citing an anticipated close of the pending acquisition of Piedmont Tennessee as pivotal for long-term growth.

Capital Investment and Future Outlook

Looking ahead, Spire has revised its long-term capital investment goals up to $11.2 billion, extending through fiscal 2035, which supports its target for adjusted earnings growth of 5% to 7% annually. The focus remains on enhancing customer services and community needs while maintaining strong financial health.

Spire's board of directors approved a quarterly common stock dividend increase to $0.825 per share, raising the annual rate to $3.30 per share. This decision reflects Spire's confidence in future performance and is praised by investors for its consistency and reliability. The dividend is set for distribution on January 5, 2026, to shareholders of record by December 11, 2025.

Conclusion

In summary, Spire Inc.'s financial results for fiscal 2025 demonstrate a solid upward trend in profitability and operating efficiency, underscoring the strength of its strategic initiatives. With a promising outlook for adjusted earnings and a commitment to ongoing improvements, Spire is well-positioned to navigate the evolving landscape of the energy sector in the coming years.