Spire's Q1 Earnings Higher Than Estimates, Revenues Rise Y/Y

Spire Inc. SR reported first-quarter fiscal 2026 adjusted earnings of $1.77 per share, which beat the Zacks Consensus Estimate of $1.62 by 9.3%. The company’s bottom line also rose 32.1% from $1.34 reported in the year-ago quarter.

SR’s Revenues

Total revenues for the reported quarter were $762.2 million, which surpassed the Zacks Consensus Estimate of $712 million by 7.1%. The top line also climbed 13.9% from $669.1 million in the year-ago quarter.

Spire Inc. Price, Consensus and EPS Surprise

Spire Inc. price-consensus-eps-surprise-chart | Spire Inc. Quote

Highlights of SR’s Earnings Release

Operating expenses totaled $588.7 million, up 13.1% from $520.3 million recorded in the prior-year period.

Operating income came in at $173.5 million compared with $148.8 million in the prior-year quarter.

Net interest expenses increased 25.8% year over year to $60.4 million.

SR’s Segmental Performance

Gas Utility: The segment reported adjusted earnings of $103.9 million, indicating an improvement of 33.7% from the prior-year quarter’s figure. This improvement reflected higher Spire Missouri and Spire Alabama earnings.

Gas Marketing: The segment reported adjusted earnings of $4.5 million, indicating massive growth of 104.5% from the prior-year quarter’s figure. This increase was due to the higher optimization of its portfolio year over year.

Midstream: Adjusted earnings from this segment totaled $12.7 million, up 5.8% from the year-ago quarter’s reported number. This increase was due to higher Spire Storage revenues, reflecting additional capacity.

Other: This segment reported an adjusted loss of $12.7 million compared with a loss of $10.9 million in the prior-year quarter.

SR’s Financial Highlights

Cash and cash equivalents as of Dec. 31, 2025 were $4.1 million compared with $5.7 million as of Sept. 30, 2025.

Long-term debt (less current portion) as of Dec. 31, 2025 totaled $4.45 billion compared with $3.37 billion as of Sept. 30, 2025.

During the first three months of fiscal 2026, the company generated net cash from operating activities of $81 million compared with $81.1 million in the same period last year.

SR’s Guidance

Spire expects its fiscal 2026 adjusted earnings to be in the range of $5.25-$5.45 per share. The Zacks Consensus Estimate is pegged at $5.30, which is lower than the midpoint of the company’s guided range.

Spire expects its fiscal 2027 adjusted earnings to be in the range of $5.65-$5.85 per share. The Zacks Consensus Estimate stands at $5.71, which is lower than the midpoint of the company’s guided range.

SR expects its 10-year capital investment to be $11.2 billion through fiscal 2035. This planned investment is likely to drive long-term adjusted earnings per share growth of 5-7%.

SR’s Zacks Rank

Spire currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

UGI Corporation UGI is scheduled to release first-quarter fiscal 2026 results on Feb. 4, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.50 per share, which indicates a year-over-year increase of 9.5%.

UGI delivered an average earnings surprise of 43.85% in the last four quarters. The Zacks Consensus Estimate for fiscal first-quarter sales is pegged at $2.13 billion, which implies a year-over-year rise of 4.8%.

MDU Resources Group MDU is slated to report fourth-quarter 2025 results on Feb. 5, before market open. The Zacks Consensus Estimate for earnings is pegged at 37 cents per share, which indicates a year-over-year jump of 8.8%.

MDU’s long-term (three to five years) earnings growth rate is 6.28%. The Zacks Consensus Estimate for fourth-quarter sales stands at $554 million, which suggests year-over-year growth of 3.5%.

ONE Gas Inc. OGS is slated to report fourth-quarter 2025 results on Feb. 18, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.42 per share, which indicates year-over-year growth of 6%.

OGS’ long-term earnings growth rate is 6.66%. The Zacks Consensus Estimate for fourth-quarter sales stands at $675.2 million, which suggests a year-over-year rise of 7.1%.

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