Spire Inc. reported a fiscal third-quarter net loss from continuing operations of $42.6 million, or 72 cents a share, for the period ended June 30, 2026, compared with a loss of $13.3 million, or 29 cents a share, a year earlier.
On an adjusted basis, the company posted a loss of $15.7 million, or 26 cents a share, versus a loss of $13.3 million, or 29 cents a share in the prior-year quarter.
The company’s gas utility segment narrowed its adjusted loss to $3.2 million from $10.0 million a year ago. Spire said the improvement came from $30.6 million of higher contribution margin, led by new Missouri rates effective in October 2025, higher Missouri infrastructure surcharge revenue, and Alabama rates effective in December 2025. The quarter also benefited from higher Alabama usage, favorable cost control mechanism performance, and stronger off-system sales in Missouri and Alabama.
Those gains were partly offset by higher expenses. Operation and maintenance expense rose $3.8 million from a year earlier, though after adjusting for a pension reclass and bad debt expense, it was up just $0.4 million. Depreciation expense climbed $11.8 million, taxes other than income taxes increased $4.0 million, and interest expense rose $2.4 million.
Spire’s “other” activities posted an adjusted loss of $12.5 million, wider than the $3.3 million loss a year ago, mainly because of higher corporate costs and interest expense.
For the first nine months of fiscal 2026, Spire reported net income of $262.8 million, or $4.21 a share, up from $248.1 million, or $4.05 a share, in the same period last year. Adjusted earnings rose to $301.8 million, or $5.01 a share, from $248.1 million, or $4.05 a share.
Within that year-to-date period, the gas utility segment delivered adjusted earnings of $335.5 million, up from $263.0 million a year earlier. The company said the increase was driven by the same rate and surcharge changes in Missouri and Alabama, along with stronger Alabama cost-control performance and higher off-system sales. O&M expense increased $7.7 million, but after adjustments it was essentially flat.
Spire also reported $253.8 million of earnings from discontinued operations in the third quarter, including an after-tax gain on sale of $254.6 million. For the first nine months, discontinued operations contributed $325.6 million, also including that same gain.
The company reaffirmed fiscal 2026 adjusted earnings guidance of $3.90 to $4.10 per share and fiscal 2027 adjusted earnings guidance of $5.40 to $5.60 per share. It also kept its long-term adjusted earnings growth target at 5% to 7% and said expected capital expenditures for continuing operations in fiscal 2026 are $797 million. As a result of these announcements, the company's shares have moved 0.72% on the market, and are now trading at a price of $80.135. If you want to know more, read the company's complete 8-K report here.
