We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Spire's Q3 Loss Wider Than Estimates, Revenues Decrease Y/Y
Read MoreHide Full Article
Key Takeaways
Spire reported an adjusted loss of 26 cents per share as quarterly revenues fell 0.4%.
Gas Utility narrowed its loss to $3.2 million, but Other's loss widened on higher costs and interest.
Spire maintained fiscal 2026 guidance and plans $11.2 billion in capital investment through 2035.
Spire Inc. (SR - Free Report) reported a third-quarter fiscal 2026 adjusted loss of 26 cents per share, wider than the Zacks Consensus Estimate of a loss of 24 cents. The company reported adjusted earnings of 1 cent in the year-ago quarter.
SR’s Revenues
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.
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%.
ONE Gas, Inc. (OGS - Free Report) 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 - Free Report) 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 - Free Report) 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.
View the Zacks #1 Rank List
Image: Bigstock
Spire's Q3 Loss Wider Than Estimates, Revenues Decrease Y/Y
Key Takeaways
Spire Inc. (SR - Free Report) reported a third-quarter fiscal 2026 adjusted loss of 26 cents per share, wider than the Zacks Consensus Estimate of a loss of 24 cents. The company reported adjusted earnings of 1 cent in the year-ago quarter.
SR’s Revenues
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.
Spire Inc. Price, Consensus and EPS Surprise
Spire Inc. price-consensus-eps-surprise-chart | Spire Inc. Quote
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 - Free Report) 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 - Free Report) 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 - Free Report) 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.