Spire Posts Q3 Loss but Reaffirms FY26–27 Guidance as Portfolio Transformation Wraps Up
SR is trading near its 52-week low of $73.91 (7.6% above the low).
Summary
Spire Inc. reported a Q3 FY2026 net loss from continuing operations of $42.6 million, or $0.72 per share, and an adjusted loss of $15.7 million, or $0.26 per share. The company reaffirmed its fiscal 2026 and 2027 adjusted EPS guidance and long-term growth target, underscoring confidence in its regulated utility strategy after completing key divestitures.
Key Events · Earnings and Guidance · SR
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Q3 Loss Widens on Acquisition Costs
Net loss from continuing operations was $42.6 million ($0.72/share) vs. $13.3 million loss a year ago, including $36.0 million in pre-tax acquisition activities costs.
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Adjusted Loss Narrows Slightly
Adjusted loss from continuing operations was $15.7 million ($0.26/share) compared to $13.3 million ($0.29/share) a year ago, reflecting improved utility performance offset by higher corporate costs and interest expense.
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FY26 and FY27 Guidance Reaffirmed
Management reaffirmed fiscal 2026 adjusted EPS guidance of $3.90–$4.10 and fiscal 2027 guidance of $5.40–$5.60, along with a long-term adjusted EPS growth target of 5-7%.
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Portfolio Transformation Completed
Divestitures of Spire Marketing and Spire Storage were completed, with a $254.6 million after-tax gain recorded in discontinued operations, simplifying the business to a pure regulated utility.
Analysis · SR · Energy & Transportation
A wider Q3 net loss from continuing operations of $42.6 million, or $0.72 per share, compared with a $13.3 million loss a year ago, reflects acquisition-related costs and a jump in interest expense. On an adjusted basis, the loss came to $15.7 million, or $0.26 per share. Despite the near-term pressure, management reaffirmed its fiscal 2026 adjusted EPS guidance of $3.90–$4.10 and fiscal 2027 guidance of $5.40–$5.60, signaling conviction in the regulated utility strategy following the completed divestitures of non-regulated businesses. The results highlight the benefits of new rates and infrastructure investment, though the sharp rise in interest expense and the adjusted loss underscore headwinds. The reaffirmed guidance and long-term growth target of 5–7% offer a positive signal for the utility-focused transformation.
At the time of this filing, SR was trading at $79.55 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.7B. The 52-week trading range was $73.91 to $95.31. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.