10-Q · April 30, 2025
Spire reported Q2 operating revenues of $1,051.3 million and diluted EPS of $3.51 for the three months ended March 31, 2025. Margins were strong (gross 56.7%, operating 29.1%) while YTD operating cash flow was $453.8…
Earnings analysis · 10-Q
SR earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Spire Inc. reported Q2 2026 results with strong revenue growth to $1.02 billion and EPS of $3.51, slightly surpassing estimates. The company improved its fiscal 2026 adjusted EPS guidance to $3.90-$4.10 amid continued…
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Spire Inc. reported Q2 2026 results with strong revenue growth to $1.02 billion and EPS of $3.51, slightly surpassing estimates. The company improved its fiscal 2026 adjusted EPS guidance to $3.90-$4.10 amid continued robust performance in its Gas Utility segment despite weather-related headwinds. Key acquisitions were completed during the quarter, contributing positively to results, while divestitures are expected to enhance liquidity.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.51
- Segment
- Gas Utility Segment
What stood out
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Revenue Growth
Total revenue increased to $1.02 billion, up from $976.4 million YoY.
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Strong EPS Performance
Diluted EPS for Q2 was reported at $3.51, up from $3.17 in the prior-year quarter.
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Gas Utility Segment Recovery
Gas Utility segment net income rose by $36.6 million year-over-year.
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Adjusted EPS Guidance Increased
Fiscal 2026 adjusted EPS guidance revised to $3.90-$4.10 from $4.00-$4.30.
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Successful Acquisition Completion
Acquired Piedmont Natural Gas Tennessee for $2.50 billion, expected to enhance market reach.
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Improved Operating Cash Flow
Net cash from operating activities rose to $491.4 million from $453.8 million in the prior year.
What to watch
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Weather-Related Usage Declines
Adverse weather resulted in lower volumetric usage, impacting revenue by $29.5 million.
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Increased Depreciation Costs
Depreciation increased by $12.1 million due to infrastructure capital expenditures.
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Integration Risks from Acquisitions
Potential challenges related to the integration of Piedmont Natural Gas Tennessee business.
Management's outlook
Updated fiscal 2026 adjusted earnings guidance from continuing operations to $3.90–$4.10.
Earlier filings 4
10-Q · February 5, 2025
Spire reported consolidated operating revenues of $669.1 million and diluted EPS of $1.34 for the three months ended December 31, 2024. Revenue fell year-over-year by $87.5 million (from $756.6M to $669.1M) and EPS…
10-Q · July 31, 2024
Spire reported Q3 (three months ended June 30, 2024) operating revenues of $414.1M and an operating income of $30.7M, with a diluted (loss) EPS of $(0.28). Gross margin improved to 66.0% and operating margin to 7.4%…
10-K · November 16, 2023
Spire Inc. (Form 10-K for fiscal year ended September 30, 2023) positions itself as a regulated gas utility with three reportable segments — Gas Utility, Gas Marketing and Midstream — focused on organic growth,…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.