Spire's Q3 Loss Wider Than Estimates, Revenues Decrease Y/Y

Total revenues for the reported quarter were $420.2 billion, which beat the Zacks Consensus Estimate of $398 billion by 5.6%. However, the top line decreased 0.4% from $421.9 billion in the year-ago quarter.

Highlights of SR’s Earnings Release

Total operating expenses rose 20.1% year over year to $396.8 million. Natural gas costs increased to $101.2 million from $95.5 million, while operation and maintenance expenses climbed to $148.3 million from $119.6 million. 

Operating income jumped 5.9% to $23.4 million from $22.1 million. However, net interest expense surged 78.7% to $85.6 million from $47.9 million.

SR’s Segmental Performance

Gas Utility: The segment reported an adjusted loss of $3.2 million, narrower than the prior-year loss of $10 million, reflecting improvement at both Spire Missouri and Spire Alabama.

Other: This segment reported an adjusted loss of $12.5 million compared with a loss of $3.3 million in the prior-year quarter. The variance in earnings is primarily due to higher corporate costs and interest expense.

SR Completes Portfolio Divestitures

Spire completed the divestitures of its Marketing and Storage businesses during the quarter. Following these transactions, the company’s results and guidance focus on continuing utility operations.

SR’s Financial Highlights

Cash and cash equivalents as of June 30, 2026 were $20.7 million compared with $5.7 million as of Sept. 30, 2025.

Long-term debt (less current portion) as of June 30, 2026 totaled $5.76 billion compared with $3.37 billion as of Sept. 30, 2025.

During the first nine months of fiscal 2026, the company generated net cash from operating activities of $613.6 million compared with $582.9 million in the same period last year.

SR’s Guidance

Spire maintained its fiscal 2026 adjusted earnings to be in the range of $3.90-$4.10 per share. The Zacks Consensus Estimate is pegged at $4.01, which just higher than the company’s guided range.

Spire expects its fiscal 2027 adjusted earnings to be in the range of $5.40-$5.60 per share. The Zacks Consensus Estimate stands at $5.52, which is higher than the midpoint of the company’s guided range.

Expected capital expenditures for continuing operations in fiscal 2026 remain $797 million.

SR expects its 10-year capital investment to be $11.2 billion through fiscal 2035. This planned investment is likely to drive long-term adjusted earnings per share growth of 5-7%.

SR’s Zacks Rank

Spire currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

ONE Gas, Inc. OGS reported second-quarter 2026 adjusted earnings of 82 cents per share, beating the Zacks Consensus Estimate of 65 cents by 26.2%. The bottom line surged 51.9% from 54 cents in the year-ago quarter.

ONE Gas recorded revenues of $411.6 million, which missed the Zacks Consensus Estimate of $440 million by 6.5%. The top line also decreased 2.9% from $423.7 million in the prior-year quarter.

Edison International EIX reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter.

Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.

IDACORP, Inc. IDA reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.

Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.

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