Spire Q3 Loss Widens on Acquisition Costs, But Divestiture Gains Drive Net Income
SR is trading near its 52-week low of $73.91 (7.9% above the low) on light trading volume (0.2× avg).
Summary
Spire Inc. reported a wider Q3 loss from continuing operations due to acquisition-related costs, but gains from divestitures lifted net income. The balance sheet shows the full weight of the Piedmont Tennessee deal.
Key Events · Earnings and Guidance · SR
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Q3 Loss from Continuing Operations Widens
Net loss from continuing operations was $42.6 million, or $0.72 per share, compared to a $13.3 million loss in the prior-year quarter, driven by higher interest and operating expenses from the Piedmont Tennessee acquisition.
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Divestiture Gains Boost Net Income
Net income from discontinued operations was $253.8 million, including a $254.6 million after-tax gain on the sales of Spire Marketing and Spire Storage, resulting in total net income of $211.2 million.
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Balance Sheet Reflects Acquisition
Total assets rose to $14.1 billion from $11.6 billion at fiscal year-end, and long-term debt increased to $5.8 billion from $3.4 billion, primarily due to the $2.5 billion Piedmont Tennessee acquisition.
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Regulatory Developments
Spire Missouri filed an ISRS case for a $21.3 million annual revenue increase; Spire Alabama's RSE renewal hearing is set for August 6, 2026; Spire Tennessee filed its first ARM request for a $14.0 million annual increase.
Analysis · SR · Energy & Transportation
Spire's Q3 loss from continuing operations deepened to $42.6 million from $13.3 million a year ago, driven by higher interest and operating costs tied to the $2.5 billion Piedmont Tennessee acquisition. However, the sale of Spire Marketing and Spire Storage generated a $253.8 million after-tax gain, pushing total net income to $211.2 million. The balance sheet reflects the acquisition's impact: assets swelled to $14.1 billion and long-term debt nearly doubled to $5.8 billion. The quarter also brought regulatory developments, including a pending ISRS case in Missouri and an RSE hearing in Alabama, which could affect future rate recovery.
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At the time of this filing, SR was trading at $79.77 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.