Spire Q1 results beat on new rates at Missouri, Alabama

Spire

03/02/2026 12:10

Overview

Natural gas company's fiscal Q1 revenue beat analyst expectations

Adjusted EPS for fiscal Q1 beat analyst expectations

Gas Utility earnings rose due to new rates at Spire Missouri and Alabama

Outlook

Spire affirms fiscal 2026 adjusted EPS guidance of $5.25–$5.45

Spire expects fiscal 2027 adjusted EPS of $5.65–$5.85

Company targets $11.2 bln capital investment through fiscal 2035

Result Drivers

NEW RATES - Gas Utility earnings increased due to new rates at Spire Missouri and Spire Alabama, partially offset by lower volumetric margins and higher depreciation expenses

ADDITIONAL CAPACITY - Midstream earnings grew due to increased capacity at Spire Storage, offset by higher depreciation and interest expenses

PORTFOLIO OPTIMIZATION - Gas Marketing earnings rose due to improved portfolio optimization

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$762.20 mln
$721.82 mln (5 Analysts)
Q1 Adjusted EPS
Beat
$1.77
$1.66 (7 Analysts)
Q1 EPS
$1.54
Q1 Net Income
$95 mln
Q1 Basic EPS
$1.55
Q1 Operating Income
$173.50 mln
Q1 Pretax Profit
$118.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the natural gas utilities peer group is "buy"

Wall Street's median 12-month price target for Spire Inc is $94.50, about 10.8% above its February 2 closing price of $85.32

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nPn8Xvq8ta

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)