Spire Inc. (SR) Earnings Call Transcripts
Spire Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of fiscal 2026, Spire Inc. reported adjusted earnings per share (EPS) of $3.76, up from $3.17 in the prior year, driven by a 20% increase in gas utility earnings. Revenue growth was supported by a $16.5 million rate increase approved in Missouri, although management noted challenges due to lower customer usage driven by weather conditions. The company has updated its fiscal 2026 adjusted EPS guidance to a range of $3.90 to $4.10, reflecting a reduction primarily due to weather-related margin headwinds.
Reported metrics
| Metric | Value |
|---|---|
| Adjusted EPS | $3.76 (beat) |
| Gas Utility Earnings | $235 million (beat) |
| Fiscal 2026 Adjusted EPS Guidance | $3.90 - $4.10 (negative) |
| Gas Utility Range | $275 million - $295 million (negative) |
| Capital Expenditures | $797 million (inline) |
| Rate Base Growth in Missouri | 7% (positive) |
Guidance from management
Spire reaffirmed its long-term adjusted EPS growth target of 5% to 7% and provided a fiscal 2026 adjusted EPS guidance range of $3.90 to $4.10, reflecting a reduction due to weather-related impacts.
What management said
Yes. This is Adam. We would really remain unchanged there. Our payout ratio, as we've said in the past, in the, kind of, the typical 55% to 65% area, and we would expect the dividend to grow along with earnings.
No, it's really -- we'll be looking to make it very rate base driven and recovery driven from there. So as we've talked about, the relatively linear path in each of our jurisdictions on a go-forward basis should create a pretty predictable growth trajectory.
What analysts pressed on
Analysts expressed concerns over the impact of weather normalization on earnings and the effectiveness of the regulatory mechanisms in place. There were also questions regarding the timing and potential earnings impact of the accounting authority order filed with the Missouri PSC.
Main topics on the call
- Earnings Growth — Spire reported adjusted EPS of $3.76 for Q2 2026, up from $3.17 a year ago, indicating strong operational performance. Management stated, "Gas utility earnings totaled $235 million, an increase of over 20% or $40 million...
- Weather Impact on Usage — Management highlighted that customer usage in Missouri was significantly below expectations due to an unusually mild winter, with heating degree days 11.5% below normal. This led to a margin shortfall, prompting a filing...
- Strategic Divestitures — The company is divesting non-core assets, including Spire Marketing and Spire Mississippi, to focus on its regulated gas utility business. Scott Doyle noted, "These actions enhance the quality and the visibility of our e...
- Updated Guidance — Spire has revised its fiscal 2026 adjusted EPS guidance to $3.90 to $4.10, down from previous expectations due to weather-related impacts. Adam Woodard stated, "We are lowering the gas utility range to $275 million to $2...
Read the full Spire Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Spire Inc.
Spire Inc. (SR) is a publicly listed company in the Gas Utilities industry, within the Utilities sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 30 calls on record spanning January 30, 2020 to May 6, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 30 Spire Inc. earnings call transcripts on record, spanning January 30, 2020 to May 6, 2026. Based on this history, Spire Inc. reports quarterly. The most recent call on file is dated May 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- SR
- Exchange
- NYSE
- Country
- US
- Sector
- Utilities
- Industry
- Gas Utilities
- Calls on record
- 30
- First call
- January 30, 2020
- Most recent
- May 6, 2026
- Reporting cadence
- quarterly