Spire Inc. (NYSE:SR) reported a deeper adjusted loss in its fiscal fourth quarter, posting -$0.47 per share compared with analyst expectations of -$0.43. Quarterly revenue totaled $334.1 million, significantly below the consensus estimate of $422.84 million.
For fiscal year 2025, Spire generated adjusted earnings of $4.44 per share, a 7.5% improvement from $4.13 in 2024. Despite the annual growth, shares of the company slipped 1.9% following the release.
Looking ahead, Spire issued fiscal 2026 earnings guidance in the range of $5.25 to $5.45 per share, above the market forecast of $5.20. The utility also rolled out fiscal 2027 guidance of $5.65 to $5.85 per share, topping projections of $5.55.
“Spire’s solid performance in fiscal 2025 reflects our disciplined approach to growth, operational excellence and continuous improvement,” said Scott Doyle, president and chief executive officer of Spire. “By delivering on strategic priorities such as the Missouri rate case and the pending acquisition of Piedmont Tennessee, we are well-positioned to drive sustainable long-term value.”
The Gas Utility segment delivered adjusted earnings of $231.4 million in fiscal 2025, up from $220.8 million the prior year, supported by new rates at Spire Alabama and higher Infrastructure System Replacement Surcharge revenues at Spire Missouri. Midstream results also strengthened, with earnings rising to $56.3 million from $33.5 million, helped by expanded storage capacity and contract renewals at improved rates.
Spire’s board approved a 5.1% increase in the quarterly dividend to $0.825 per share, marking the company’s 23rd year in a row of dividend growth. The company also lifted its 10-year capital investment outlook to $11.2 billion through fiscal 2035 and reiterated its long-term adjusted EPS target of 5–7% annual growth.
Management noted that the fiscal 2027 outlook excludes contributions from natural gas storage assets slated for sale, but does include a full year of earnings expected from the pending Piedmont Tennessee acquisition.