Revenue: As of FY2026 Q3, the actual value is USD 420.2 M.

EPS: As of FY2026 Q3, the actual value is USD 3.57, beating the estimate of USD -0.3908.

EBIT: As of FY2026 Q3, the actual value is USD 27.7 M.

Third Quarter Results (Three Months Ended June 30, 2026 vs. 2025)

Net Loss from Continuing Operations

Spire Inc. reported a net loss from continuing operations of - $42.6 million for the third fiscal quarter of 2026, compared to a net loss of - $13.3 million in the prior year period.

Adjusted Loss from Continuing Operations

Adjusted loss from continuing operations was - $15.7 million in the third fiscal quarter of 2026, compared to a loss of - $13.3 million in the prior year.

Adjusted Earnings (Loss) by Segment

• The Gas Utility Segment reported an adjusted loss of - $3.2 million in 2026, compared to - $10.0 million in 2025.
• The “Other” segment reported an adjusted loss of - $12.5 million in 2026, compared to - $3.3 million in 2025.

Net Income from Discontinued Operations

Net income from discontinued operations, net of tax, was $253.8 million in the third fiscal quarter of 2026, including an after-tax gain on sale of $254.6 million, compared to $34.2 million in the prior year.

Operating Revenues

Operating revenues were $420.2 million in 2026, up from $352.5 million in 2025.

Operating Expenses

• Natural gas expenses were $101.2 million in 2026, compared to $95.5 million in 2025.
• Operation and maintenance expenses were $148.3 million in 2026, compared to $119.6 million in 2025. After adjusting for pension reclass and bad debt expense, operation and maintenance expense increased $0.4 million year-over-year, driven by higher non-payroll expenses partially offset by reduced employee-related costs.
• Depreciation and amortization expenses were $95.2 million in 2026, compared to $72.8 million in 2025. Depreciation expense increased $11.8 million year-over-year, due to capital investment and updated depreciation schedules.
• Taxes, other than income taxes, were $52.1 million in 2026, compared to $42.5 million in 2025. These taxes increased $4.0 million, primarily due to revised property tax amortization.
• Total Operating Expenses were $396.8 million in 2026, compared to $330.4 million in 2025.

Operating Income

Operating income was $23.4 million in 2026, compared to $22.1 million in 2025.

Interest Expense, Net

Net interest expense was - $85.6 million in 2026, compared to - $47.9 million in 2025. Interest expense increased $2.4 million due to higher long-term debt balances, partially offset by lower long-term and short-term rates.

Other Income, Net

Other income, net, was $5.8 million in 2026, compared to $4.6 million in 2025.

Impairment

Impairment was - $1.5 million in 2026, with no impairment reported in 2025.

Income Tax (Benefit) Expense

Income tax benefit was - $15.3 million in 2026, compared to - $7.9 million in 2025.

Net Income

Net income was $211.2 million in 2026, compared to $20.9 million in 2025.

Contribution Margin (Non-GAAP)

• Consolidated contribution margin was $298.0 million in 2026, compared to $237.4 million in 2025.
• The Gas Utility Segment’s contribution margin was $284.7 million in 2026, compared to $223.0 million in 2025. This segment’s contribution margin increased $30.6 million, driven by new Spire Missouri rates, higher Missouri Infrastructure System Replacement Surcharge (ISRS) revenues, Spire Alabama rates under the Rate Stabilization and Equalization (RSE) mechanism, higher Spire Alabama usage (net of weather mitigation), and favorable Cost Control Mechanism (CCM) performance.
• The “Other” segment’s contribution margin was $18.1 million in 2026, compared to $18.9 million in 2025.

Year-to-Date Results (Nine Months Ended June 30, 2026 vs. 2025)

Net Income from Continuing Operations

Spire Inc. reported consolidated net income of $262.8 million for the first nine months of fiscal 2026, compared to $248.1 million in the prior year period.

Adjusted Earnings from Continuing Operations

Adjusted earnings were $301.8 million for the first nine months of fiscal 2026, compared to $248.1 million in the prior year.

Adjusted Earnings (Loss) by Segment

• The Gas Utility Segment reported adjusted earnings of $335.5 million in 2026, compared to $263.0 million in 2025.
• The “Other” segment reported an adjusted loss of - $33.7 million in 2026, compared to - $14.9 million in 2025.

Net Income from Discontinued Operations

Net income from discontinued operations was $325.6 million during the first nine months of fiscal 2026, including an after-tax gain on sale of $254.6 million, compared to $63.4 million in the prior year.

Operating Revenues

Operating revenues were $2,138.9 million in 2026, up from $1,946.9 million in 2025.

Operating Expenses

• Natural gas expenses were $770.3 million in 2026, compared to $763.5 million in 2025.
• Operation and maintenance expenses were $432.5 million in 2026, compared to $365.3 million in 2025. After adjusting for pension reclass and bad debt expense, operation and maintenance expense was essentially flat year-over-year, increasing by $7.7 million.
• Depreciation and amortization expenses were $257.4 million in 2026, compared to $216.1 million in 2025.
• Taxes, other than income taxes, were $189.9 million in 2026, compared to $167.1 million in 2025.
• Total Operating Expenses were $1,650.1 million in 2026, compared to $1,512.0 million in 2025.

Operating Income

Operating income was $488.8 million in 2026, compared to $434.9 million in 2025.

Interest Expense, Net

Net interest expense was - $206.2 million in 2026, compared to - $139.4 million in 2025.

Other Income, Net

Other income, net, was $15.5 million in 2026, compared to $8.2 million in 2025.

Impairment

Impairment was - $5.4 million in 2026, with no impairment reported in 2025.

Gain on Sale of Subsidiary

Gain on sale of subsidiary was $28.9 million in 2026, with no gain reported in 2025.

Income Tax (Benefit) Expense

Income tax expense was $58.8 million in 2026, compared to $55.6 million in 2025.

Net Income

Net income was $588.4 million in 2026, compared to $311.5 million in 2025.

Net Cash Provided by Operating Activities

Net cash provided by operating activities was $613.6 million in 2026, compared to $582.9 million in 2025.

Capital Expenditures

Capital expenditures were - $608.4 million in 2026, compared to - $699.7 million in 2025.

Proceeds from Sale of Discontinued Operations

Proceeds from sale of discontinued operations were $819.9 million in 2026, with no proceeds reported in 2025.

Long-term Debt (less current portion)

Long-term debt (less current portion) was $5,758.0 million as of June 30, 2026, compared to $3,498.4 million as of June 30, 2025.

Total Assets

Total assets were $14,091.4 million as of June 30, 2026, compared to $11,396.3 million as of June 30, 2025.

Total Shareholders’ Equity

Total shareholders’ equity was $3,583.0 million as of June 30, 2026, compared to $3,480.2 million as of June 30, 2025.

Contribution Margin (Non-GAAP)

• Consolidated contribution margin was $1,261.4 million in 2026, compared to $1,082.0 million in 2025.
• The Gas Utility Segment’s contribution margin was $1,219.6 million in 2026, compared to $1,039.5 million in 2025.
• The “Other” segment’s contribution margin was $55.8 million in 2026, which was consistent with $55.8 million in 2025.

Outlook / Guidance

Spire Inc. reaffirmed its fiscal 2026 adjusted earnings guidance from continuing operations to be in the range of $3.90–$4.10 per share, excluding Spire Tennessee results. The company also reaffirmed its fiscal 2027 adjusted EPS guidance range of $5.40–$5.60 from ongoing businesses, reflecting a full year of earnings contributions from Spire Tennessee. Furthermore, Spire Inc. reaffirmed its long-term adjusted earnings growth target of 5-7% through fiscal 2035, supported by an $11.2 billion capital investment target.