Spire climbs on sale of gas marketing unit

Spire

30/03/2026 12:33

**  Shares of natural gas utility Spire SR.N rise 4% to $94.3 premarket

** Company to sell its gas marketing unit Spire Marketing to Boardwalk Pipelines for $215 million in cash

** SR says proceeds from the sale are expected to be used to partially fund the acquisition of the Piedmont Natural Gas Tennessee business and general corporate purposes

** Company expects transaction to close in the third fiscal quarter

** "The sale simplifies our business mix, improves our risk profile and enhances long-term earnings visibility," says SR CEO Scott Doyle

** Co expects 2027 adjusted profit to be in the range of $5.40/share to $5.60/share, compared with prior guidance of $5.65/share to $5.85/share

** Up till last close, SR up 9.7% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))