The earnings beat and reaffirmed FY2026/FY2027 guidance reinforce the utility transformation thesis. With the portfolio simplification complete, focus shifts to rate case outcomes and organic growth. The higher interest expense burden from the Tennessee acquisition will be a key monitor in coming quarters. A sustained EPS beat could drive the stock toward the high end of the regulated utility peer group.
Price Chart
Executive Summary
Spire reported fiscal Q3 2026 adjusted EPS from continuing operations of $(0.26), beating consensus of $(0.30) by 13%, on revenue of $420.2M (up 19% YoY and above $407.6M consensus). GAAP net loss from continuing ops widened to $42.6M due to $36M in acquisition-related costs and higher interest expense. The company reaffirmed FY2026 adjusted EPS guidance of $3.90-$4.10 and long-term 5-7% growth target, with the strategic portfolio transformation largely complete following the sales of Spire Marketing and Spire Storage.
Key Financial Metrics
Key Facts
- Q3 adjusted EPS from continuing ops of $(0.26) beat consensus by 13% (consensus $(0.30))
- Revenue of $420.2M grew 19% YoY and beat consensus of $407.6M by 3%
- Gas Utility adjusted loss improved to $(3.2)M from $(10.0)M YoY
- GAAP net loss from continuing ops of $42.6M ($(0.72)/share) vs prior-year loss of $13.3M ($(0.29))
- FY2026 adjusted EPS guidance reaffirmed at $3.90-$4.10; FY2027 reaffirmed at $5.40-$5.60
- Divestitures of Spire Marketing and Spire Storage completed, simplifying the business to regulated utilities
- Acquisition-related costs of $36.0M and impairment of $1.5M impacted GAAP results
- Capital expenditure plan of $797M for FY2026; 10-year $11.2B investment target unchanged
Financial Impact
Revenue beat by $12.6M; adjusted EPS beat by $0.04; the earnings beat and reaffirmed guidance support a modest positive re-rating for the regulated utility focused company
Risk Factors
- Interest expense nearly doubled to $85.6M from $47.9M, driven by debt from the Tennessee acquisition
- GAAP net loss widened significantly due to non-recurring acquisition and impairment costs
- Regulatory risk from new rate cases and weather-related usage variability
- Execution risk on integrating the Tennessee assets while completing remaining divestitures
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-333825 |
| Document: sr-20260805.htm | 0001193125-26-333825 |
| Document: 0001193125-26-333825-index-headers.html | 0001193125-26-333825 |
| Document: 0001193125-26-333825-index.html | 0001193125-26-333825 |
| Document: 0001193125-26-333825.txt | 0001193125-26-333825 |
| 8-K Data (Synthetic) | 0001193125-26-333825 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | Press Release | $81.17 | awaiting T+20 | — | $86.05 (+6.01%) |
Aug 5, 2026 11w ago | 8-K | $80.78 $82.77 | ▲ +2.46% | ▲ +3.06% | $86.05 (+6.52%) |
Jul 30, 2026 12w ago | Press Release | $80.53 $82.54 | ▲ +2.50% | ▼ −1.47% | $86.05 (+6.85%) |
Jun 30, 2026 17w ago | 8-K | $78.00 $81.01 | ▲ +3.86% | ▲ +6.04% | $86.05 (+10.32%) |
Jun 12, 2026 19w ago | Insider Cluster | $79.10 $80.73 | ▲ +2.06% | ▲ +0.28% | $86.05 (+8.79%) |
Jun 12, 2026 19w ago | Insider Cluster | $79.10 $80.73 | ▲ +2.06% | ▲ +0.28% | $86.05 (+8.79%) |
Jun 11, 2026 19w ago | Institutional Cluster | $77.84 $80.58 | ▲ +3.52% | ▲ +1.63% | $86.05 (+10.55%) |
US Market Status
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