Spire Inc. (NYSE: SR) has reported its fiscal 2025 third-quarter results, highlighting a significant improvement in its financial performance compared to the previous year. The company reported third-quarter net income of $20.9 million, or $0.29 per diluted share, compared to a loss of $12.6 million, or $(0.28) per share, in the same period a year ago. Adjusted earnings for the third quarter were $4.1 million, or $0.01 per share, compared to a loss of $4.3 million, or $(0.14) per share, in the prior year.
Gas utility segment's adjusted earnings showed a loss of $10.0 million, an improvement from a loss of $11.0 million in the year-ago period. Gas marketing saw a significant increase in earnings, reporting $5.3 million compared to $1.0 million in the previous year. The midstream segment also experienced growth, with adjusted earnings of $16.2 million, up from $13.9 million in the same period last year. Spire's other activities reported an adjusted loss of $7.4 million, compared to a loss of $8.2 million in the prior year.
For the first nine months of fiscal 2025, Spire reported consolidated net income of $311.5 million ($5.13 per diluted share), compared to prior-year net income of $276.8 million ($4.76 per diluted share). Adjusted earnings for the nine-month period were $299.6 million ($4.93 per share), an increase from $275.0 million ($4.73 per share) in the previous year. Gas utility and midstream segments drove the growth, partially offset by lower gas marketing earnings.
The company reaffirmed its fiscal 2025 adjusted earnings per share guidance range of $4.40–$4.60. Spire is confident in its ability to achieve long-term adjusted earnings per share growth of 5–7%, driven by expected annualized rate base growth at Spire Missouri and equity growth at Spire Alabama and Spire Gulf.
Spire's 10-year $7.4 billion capital investment target through fiscal 2034 is fueled by investment in infrastructure upgrades and new business in the gas utility segment. The expected total capital expenditures for fiscal 2025 have increased to $875 million from $840 million.
Spire will be hosting a conference call and webcast to discuss its fiscal 2025 third-quarter financial results.
About Spire Inc. Spire Inc. serves 1.7 million homes and businesses, making it one of the largest publicly traded natural gas companies in the United States. The company's gas utilities serve Alabama, Mississippi, and Missouri. Spire's natural gas-related businesses include Spire Marketing and Spire Midstream.
The news release may contain forward-looking information and non-GAAP measures.
As a result of these announcements, the company's shares have moved 2.26% on the market, and are now trading at a price of $75.91. Check out the company's full 8-K submission here.
