#None #Spire Inc. #Gas Utility #Fiscal 2026

Spire Inc. Fiscal 2026 First Quarter Results Overview

On February 3, 2026, Spire Inc. (NYSE: SR) released its first quarter results for the fiscal year 2026, ending on December 31. The report showcased notable growth in net income compared to the previous year, indicative of the company's strategic successes and operational effectiveness.

Key Financial Highlights

1. Net Income: For the first quarter, Spire announced a net income of $95 million, translating to $1.54 per diluted share, compared to $81.3 million ($1.34 per share) from the previous year.
2. Adjusted Earnings: The company reported adjusted earnings of $108.4 million ($1.77 per share), marking an increase from $81.1 million ($1.34 per share) year-over-year. This increase of $0.43 per share represents a significant positive shift in the company's financial health.
3. Forward Guidance: Spire affirmed its adjusted earnings guidance for fiscal 2026, projecting a range between $5.25–$5.45 per share, along with expected adjusted earnings for fiscal 2027 between $5.65–$5.85 per share.

Segment Performance

The current quarter's performance was predominantly driven by growth in the Gas Utility sector as well as diversification through Midstream and Gas Marketing operations:

• - Gas Utility Earnings: Spire experienced a promising increase in earnings from its gas utility operations, primarily from Spire Missouri and Spire Alabama. The adjusted earnings for this segment rose to $103.9 million, significantly up from $77.8 million a year prior. The improvement was largely attributed to new pricing rates implemented across service areas, which contributed positively to revenue and margins despite some level of reduced volumetric margins.
• - Gas Marketing and Midstream: The Gas Marketing segment also showed growth, with earnings rising to $4.5 million from $2.2 million, thanks to effective portfolio management. Midstream operations registered adjusted earnings of $12.7 million, a slight increase from $12 million in the previous year, bolstered by enhanced capacity and revenue at Spire Storage.

Operational Reports and Strategic Insights

President and CEO Scott Doyle commented on the strong results saying, "Our strong first quarter results underscore the effectiveness of our regulatory strategy and the dedication our team delivers every day. By continuing to modernize our systems, strengthen regulatory engagement and maintain disciplined cost management, we are creating meaningful value for our customers and shareholders."

Doyle emphasized Spire's commitment to sustainable growth through active infrastructure investment and modernization of its operations while ensuring affordable services for its consumers. The company continues its ambitious ten-year plan for $11.2 billion in capital investments through fiscal 2035, focusing particularly on infrastructure enhancements and business expansion within the Gas Utility segment.

Funding and Financing Initiatives

In a bid to support its strategic acquisitions and capital requirements, Spire has made significant moves within its financing strategy. Recently, they completed the issuance of:

• - $900 million in Junior Subordinated Notes, and
• - $825 million in Senior Notes pertaining to the acquisition of Piedmont Natural Gas Tennessee operations.

Through these financial maneuvers, Spire demonstrates its proactive approach to capital management and strategic growth initiatives. Spire Missouri's recent issuance of $200 million in First Mortgage Bonds is also noteworthy as it equips the company for its overarching corporate goals and operational efficiency.

Looking Ahead

The anticipated contributions from ongoing strategic acquisitions are expected to further boost Spire’s adjusted earnings in the coming periods, reinforcing its growth trajectory. The company remains confident about achieving its fiscal 2027 earnings goals, heralding a positive outlook for both investors and stakeholders.

In summary, Spire Inc.'s strong Q1 performance and robust guidance underscore its operational efficiency, strategic foresight and commitment to sustainable growth in the natural gas sector. Spire will continue to keep stakeholders informed through future earnings announcements and updates on its strategic initiatives.