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Investor Relations14 Oct 2025
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Spire (SR) investor relations material
Spire Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Aug, 2025
Executive summary
Q3 net income was $20.9 million ($0.29/share), reversing a prior year loss, with nine-month net income up to $311.5 million ($5.13/share) from $276.8 million.
Adjusted earnings for Q3 were $4.1 million ($0.01/share), up from a loss of $4.3 million ($-0.14/share) year-over-year.
Announced $2.48 billion acquisition of Piedmont Natural Gas Tennessee business, expected to close in Q1 2026, expanding regulated utility footprint.
Unanimous settlement in Missouri rate case for $210 million annual revenue increase, pending regulatory approval.
Robust capex plan with FY25 target raised to $875 million and a 10-year plan of $7.4 billion, supporting infrastructure upgrades and growth.
Financial highlights
Q3 adjusted earnings were $4.1 million, up $8.4 million year-over-year, with Q3 YTD adjusted earnings at $299.6 million ($4.93/share), up from $275.0 million ($4.73/share) prior year.
Q3 operating revenues were $421.9 million, up from $414.1 million, but year-to-date revenues declined to $2,142.3 million from $2,299.2 million.
Q3 operating income rose to $69.2 million from $30.7 million; nine-month operating income increased to $524.4 million from $468.5 million.
Q3 contribution margin increased to $299.1 million from $250.8 million; nine-month contribution margin rose to $1,212.6 million from $1,137.0 million.
Dividend increased 4% to $3.14/share in FY25, marking 22 consecutive years of increases.
Outlook and guidance
FY25 adjusted EPS guidance reaffirmed at $4.40–$4.60, with long-term adjusted EPS growth targeted at 5–7%.
10-year capital investment plan of $7.4 billion through FY34, with FY25 capex increased to $875 million.
Dividend growth expected to align with earnings growth.
Acquisition expected to be accretive to earnings and support dividend growth, with permanent financing planned through debt, equity, and potential asset sales.
Updates to long-term capital plan and EPS expectations, including Tennessee acquisition, to be provided at year-end.
Why is Spire increasing its capital expenditure target?
Explain the impact of Piedmont acquisition.
What drove Midstream's earnings increase?
How will Tennessee acquisition be financed?
What's driving Midstream's margin growth?
O&M: How will that line evolve?
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Next Spire earnings date
Q4 202519 Nov, 2025
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Frequently asked questions
Spire Inc is a public utility company engaged in the purchase, retail distribution, and sale of natural gas. It operates regulated gas utilities in several U.S. states and also engages in midstream operations. The company is headquartered in St. Louis, Missouri, and its shares are listed on the NYSE.
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