Spire Reports Fiscal Q4 2025 Adjusted EPS of -$0.47

Spire Inc. (SR.US) announced its results for the fiscal fourth quarter of 2025, reporting a consolidated adjusted loss per share of -$0.47. This compares to an adjusted loss per share of -$0.54 in the year-ago period, representing an improvement of 13%. The adjusted EPS for the quarter exceeded analyst estimates of -$0.46.

Fiscal Year 2025 Performance

For the full fiscal year 2025, Spire reported consolidated adjusted earnings per share of $4.44, an increase of 7.5% compared to $4.13 per share in fiscal 2024. Net income for fiscal 2025 was $271.7 million, or $4.37 per diluted share, up from $250.9 million, or $4.19 per share, in fiscal 2024, an increase of 8.3%.

Segment Highlights

The Gas Utility segment saw fiscal 2025 adjusted earnings rise to $231.4 million from $220.8 million in fiscal 2024, driven by new rates at Spire Missouri and Spire Alabama. Gas Marketing adjusted earnings increased to $25.9 million in fiscal 2025 from $23.4 million in fiscal 2024, benefiting from strategic market positioning. Midstream adjusted earnings significantly improved to $56.3 million, up from $33.5 million in fiscal 2024, primarily due to additional storage capacity and new contracts.

Management Outlook and Capital Investments

Spire has established a fiscal 2026 adjusted EPS guidance range of $5.25 to $5.45. Looking further ahead, the company expects fiscal 2027 adjusted EPS to be between $5.65 and $5.85, reflecting contributions from the pending Piedmont Tennessee business acquisition and excluding earnings from natural gas storage facilities due to an expected sale. The company reaffirmed its long-term adjusted EPS growth target of 5–7%, using the fiscal 2027 guidance midpoint of $5.75 as a base, and raised its 10-year capital investment target to $11.2 billion through fiscal 2035.

Dividend Increase

Reflecting its solid performance and future growth expectations, Spire's board of directors increased the quarterly common stock dividend by 5.1% to $0.825 per share. This marks the 23rd consecutive year of dividend increases, raising the annualized rate to $3.30 per share.