Spire 2025 Q3 Earnings Strong Performance as Net Income Surges 265.9%

Spire reported its fiscal 2025 Q3 earnings on August 5, 2025, delivering results that exceeded expectations with a return to profitability. The company turned a net loss of $12.60 million in the prior-year period into a net income of $20.90 million. Earnings per share surged from a loss of $0.28 to $0.29, and the company reaffirmed its 2025 adjusted EPS guidance, signaling strong operational confidence.

Revenue
Spire’s total revenue rose 1.9% year-over-year to $421.90 million in Q3 2025. The Gas Utility segment contributed the largest share at $347.50 million, with Gas Marketing and Midstream adding $43.10 million and $42.20 million, respectively. Smaller contributions came from the Other segment ($5.70 million) and the Eliminations category ($-16.60 million). Consolidated revenue totaled $421.90 million, reflecting a broad-based improvement across the business.

Earnings/Net Income
Spire returned to profitability with a net income of $20.90 million in Q3 2025, a 265.9% increase from a net loss of $12.60 million in the same period in 2024. Earnings per share surged to $0.29 from a loss of $0.28, a 203.6% positive swing. The performance underscores the company’s operational resilience and consistent execution of its long-term strategy.

Price Action
The stock price of Spire edged down 2.77% during the latest trading day but rose 3.23% during the most recent full trading week. It also edged up 1.51% month-to-date.

Post-Earnings Price Action Review
Despite the earnings beat, the strategy of buying Spire shares after the earnings report and holding for 30 days showed poor performance. Over the past three years, it delivered only a 1.36% return, significantly below the benchmark of 85.57%. While the approach avoids losses, it fails to capture meaningful gains, suggesting a need for investors to consider broader market dynamics and alternative strategies to optimize returns.

CEO Commentary
Scott Doyle, president and CEO of Spire, highlighted strong third-quarter earnings driven by consistent execution of the company’s long-term strategy focused on infrastructure investment and operational excellence. He noted improved results across all segments, reaffirmed the 2025 adjusted earnings per share guidance of $4.40 to $4.60, and expressed confidence in the company’s ability to drive sustainable growth and long-term value for customers and shareholders. Doyle emphasized the strategic significance of the $2.48 billion acquisition of the Piedmont Natural Gas Tennessee business, which supports future adjusted EPS growth of 5–7%, and described the Missouri rate case stipulation as a constructive step forward.

Guidance
Spire reaffirmed its fiscal 2025 adjusted earnings per share guidance range of $4.40 to $4.60. The company expects to deliver results within this range and highlighted the strategic benefits of the $2.48 billion acquisition of the Piedmont Natural Gas Tennessee business, which is expected to close in the first quarter of calendar 2026. The acquisition supports long-term adjusted earnings per share growth of 5–7%. The Missouri rate case stipulation, if approved, is seen as a positive step for customers and stakeholders.

Additional News
On August 6, 2025, it was announced that Spire has unveiled a $2.48 billion acquisition of the Piedmont Natural Gas Tennessee business, a major strategic move aimed at expanding its footprint and enhancing long-term earnings potential. The acquisition is expected to close in Q1 2026 and is projected to support 5–7% adjusted EPS growth. The company is also navigating a Missouri rate case stipulation, which, if approved, is viewed as a constructive development for its customers and stakeholders. The deal represents a significant investment in infrastructure and operational scale, aligning with Spire’s strategic vision for future growth and operational excellence.