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Spire Q2 Earnings Miss Expectations, Revenues Decrease Y/Y
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Key Takeaways
SR posted fiscal Q2 adjusted EPS of $3.76, missing estimates as revenues fell 2.9% to $1.02B.
Spire gas utility earnings jumped 20.3% on higher Missouri and Alabama; Other segment loss widened to $11.1M.
Spire lifted cash to $49.5M, but long-term debt climbed to $5.76B; 2026 EPS guide cut to $3.90-$4.10.
Spire Inc. (SR - Free Report) reported second-quarter fiscal 2026 adjusted earnings of $3.76 per share, which missed the Zacks Consensus Estimate of $3.78 by 0.4%. However, the company’s bottom line rose 4.4% from $3.60 reported in the year-ago quarter.
SR’s Revenues
Total revenues for the reported quarter were $1.02 billion, which lagged the Zacks Consensus Estimate of $1.08 billion by 5.2%. The top line also decreased 2.9% from $1.05 billion in the year-ago quarter.
Operating expenses totaled $716.5 million, up 2.6% from $698.5 million recorded in the prior-year period.
Operating income came in at $303.5 million compared with $277.9 million in the prior-year quarter.
Net interest expenses increased 38.2% year over year to $62.6 million.
SR’s Segmental Performance
Gas Utility: The segment reported adjusted earnings of $234.8 million, indicating an improvement of 20.3% from the prior-year quarter’s figure. This improvement reflected higher Spire Missouri and Spire Alabama earnings.
Other: This segment reported an adjusted loss of $11.1 million compared with a loss of $5.9 million in the prior-year quarter.
SR’s Financial Highlights
Cash and cash equivalents as of March 31, 2026 were $49.5 million compared with $5.7 million as of Sept. 30, 2025.
Long-term debt (less current portion) as of March 31, 2026 totaled $5.76 billion compared with $3.37 billion as of Sept. 30, 2025.
During the first six months of fiscal 2026, the company generated net cash from operating activities of $491.4 million compared with $453.8 million in the same period last year.
SR’s Guidance
Spire updated its fiscal 2026 adjusted earnings to be in the range of $3.90-$4.10 per share. The Zacks Consensus Estimate is pegged at $5.08, which is 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 $5.54, which is higher than the midpoint of the company’s guided range.
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%.
Atmos Energy Corporation (ATO - Free Report) posted second-quarter fiscal 2026 earnings of $3.47 per share, which beat the Zacks Consensus Estimate of $3.37 by 3.1%. The bottom line improved 14.5% from the year-ago quarter’s $3.03.
The company reported revenues of $1.96 billion, which missed the Zacks Consensus Estimate of $2.24 billion by 12.3%. However, the top line rose by 0.6% from the prior-year quarter’s $1.95 billion.
Southwest Gas Holdings Inc. (SWX - Free Report) recorded first-quarter 2026 operating earnings of $1.91 per share, which beat the Zacks Consensus Estimate of $1.88 by 1.60%. The bottom line increased 15.76% from the year-ago quarter.
Operating revenues totaled $585.1 million, which lagged the Zacks Consensus Estimate of $737 million by 20.62%. The top line also decreased 21.61% from $746.4 million in the prior-year quarter.
ONE Gas, Inc. (OGS - Free Report) reported first-quarter 2026 adjusted earnings per share of $2.11, which missed the Zacks Consensus Estimate of $2.13 by 0.95%. The bottom line improved 6.03% from the year-ago quarter’s earnings.
ONE Gas recorded revenues of $831.7 million, which lagged the Zacks Consensus Estimate of $958 million by 13.15%. The top line also decreased 11.07% from $935.2 million in the prior-year quarter.
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Spire Q2 Earnings Miss Expectations, Revenues Decrease Y/Y
Key Takeaways
Spire Inc. (SR - Free Report) reported second-quarter fiscal 2026 adjusted earnings of $3.76 per share, which missed the Zacks Consensus Estimate of $3.78 by 0.4%. However, the company’s bottom line rose 4.4% from $3.60 reported in the year-ago quarter.
SR’s Revenues
Total revenues for the reported quarter were $1.02 billion, which lagged the Zacks Consensus Estimate of $1.08 billion by 5.2%. The top line also decreased 2.9% from $1.05 billion in the year-ago quarter.
Spire Inc. Price, Consensus and EPS Surprise
Spire Inc. price-consensus-eps-surprise-chart | Spire Inc. Quote
Highlights of SR’s Earnings Release
Operating expenses totaled $716.5 million, up 2.6% from $698.5 million recorded in the prior-year period.
Operating income came in at $303.5 million compared with $277.9 million in the prior-year quarter.
Net interest expenses increased 38.2% year over year to $62.6 million.
SR’s Segmental Performance
Gas Utility: The segment reported adjusted earnings of $234.8 million, indicating an improvement of 20.3% from the prior-year quarter’s figure. This improvement reflected higher Spire Missouri and Spire Alabama earnings.
Other: This segment reported an adjusted loss of $11.1 million compared with a loss of $5.9 million in the prior-year quarter.
SR’s Financial Highlights
Cash and cash equivalents as of March 31, 2026 were $49.5 million compared with $5.7 million as of Sept. 30, 2025.
Long-term debt (less current portion) as of March 31, 2026 totaled $5.76 billion compared with $3.37 billion as of Sept. 30, 2025.
During the first six months of fiscal 2026, the company generated net cash from operating activities of $491.4 million compared with $453.8 million in the same period last year.
SR’s Guidance
Spire updated its fiscal 2026 adjusted earnings to be in the range of $3.90-$4.10 per share. The Zacks Consensus Estimate is pegged at $5.08, which is 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 $5.54, which is higher than the midpoint of the company’s guided range.
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 Releases
Atmos Energy Corporation (ATO - Free Report) posted second-quarter fiscal 2026 earnings of $3.47 per share, which beat the Zacks Consensus Estimate of $3.37 by 3.1%. The bottom line improved 14.5% from the year-ago quarter’s $3.03.
The company reported revenues of $1.96 billion, which missed the Zacks Consensus Estimate of $2.24 billion by 12.3%. However, the top line rose by 0.6% from the prior-year quarter’s $1.95 billion.
Southwest Gas Holdings Inc. (SWX - Free Report) recorded first-quarter 2026 operating earnings of $1.91 per share, which beat the Zacks Consensus Estimate of $1.88 by 1.60%. The bottom line increased 15.76% from the year-ago quarter.
Operating revenues totaled $585.1 million, which lagged the Zacks Consensus Estimate of $737 million by 20.62%. The top line also decreased 21.61% from $746.4 million in the prior-year quarter.
ONE Gas, Inc. (OGS - Free Report) reported first-quarter 2026 adjusted earnings per share of $2.11, which missed the Zacks Consensus Estimate of $2.13 by 0.95%. The bottom line improved 6.03% from the year-ago quarter’s earnings.
ONE Gas recorded revenues of $831.7 million, which lagged the Zacks Consensus Estimate of $958 million by 13.15%. The top line also decreased 11.07% from $935.2 million in the prior-year quarter.