SRJN

EX-99.1

2 sr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Investor Contact: Megan L. McPhail 314-309-6563 Megan.McPhail@SpireEnergy.com

Media Contact: Jason Merrill 314-342-3300 Jason.Merrill@SpireEnergy.com

For Immediate Release

Spire reports FY26 third quarter results

ST. LOUIS (August 5, 2026) – Spire Inc. (NYSE: SR) today reported results for its fiscal 2026 third quarter ended June 30. Highlights include:

• Completed divestitures of Spire Marketing and Spire Storage businesses

• Net loss from continuing operations of $42.6 million, or $(0.72) per diluted share, compared to a net loss of $13.3 million, or $(0.29) per share, a year ago

• Adjusted loss* from continuing operations of $15.7 million, or $(0.26) per share, compared to a loss of $13.3 million, or $(0.29) per share a year ago

• Reaffirmed fiscal 2026 adjusted earnings guidance from continuing operations of $3.90–$4.10

• Reaffirmed fiscal 2027 adjusted earnings guidance range of $5.40–$5.60

• Reaffirmed long-term adjusted earnings growth target of 5-7%

Following the divestitures of the Spire Marketing and Spire Storage businesses, results and guidance discussed in this release reflect continuing operations for the gas utilities, excluding Spire Tennessee, unless otherwise noted. Results for the quarter reflect solid performance across the utilities supported by new rates, infrastructure investment and disciplined cost management. Gas Utility earnings improved year-over-year, driven by new rates, higher Spire Alabama usage, net of weather mitigation, and favorable Cost Control Mechanism (CCM) performance.

“Our third quarter results demonstrate the benefits of our focused utility strategy and the meaningful progress we've made in transforming Spire into a simpler, fully regulated business,” said Scott Doyle, president and chief executive officer of Spire. “With our portfolio optimization largely complete, we are well positioned to execute on our strategic priorities. The strength of our results enables us to reaffirm our fiscal 2026 and 2027 earnings guidance as we remain focused on safely delivering reliable service for our customers, investing in infrastructure and creating sustainable long-term value for our shareholders.”

Third Quarter Results

Three Months Ended June 30,

(Millions)

(Per Diluted Common Share)

2026

2025

2026

2025

Adjusted Earnings* (Loss) by Segment

Gas Utility Segment

$

(3.2

)

$

(10.0

)

Other

(12.5

)

(3.3

)

Total

$

(15.7

)

$

(13.3

)

$

(0.26

)

$

(0.29

)

Adjustments, pre-tax:

Acquisition activities1

(36.0

)

—

(0.61

)

—

Impairment

(1.5

)

—

(0.03

)

—

Income tax effect of adjustments

10.6

—

0.18

—

Net Income (Loss)

$

(42.6

)

$

(13.3

)

$

(0.72

)

$

(0.29

)

Weighted Average Diluted Shares Outstanding

59.1

59.1

*Non-GAAP, see “Adjusted Earnings and Reconciliation to GAAP.”

(1) Includes transaction, transition and financing costs for the Piedmont Tennessee Transaction.

Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as impairments and certain regulatory, legislative, or GAAP standard-setting actions.

Continuing operations

For the third fiscal quarter of 2026, Spire reported a consolidated net loss from continuing operations of $42.6 million, $(0.72) per diluted share, compared to a prior-year net loss of $13.3 million, or $(0.29) per diluted share. Adjusted earnings from continuing operations reflected a loss of $15.7 million, or $(0.26) per share, compared to a loss of $13.3 million, or $(0.29) per share last year.

Gas Utility

Gas Utility reported a loss on an adjusted earnings basis of $3.2 million, compared to a loss of $10.0 million in the prior year, reflecting improvement at both Spire Missouri and Spire Alabama.

Contribution margin increased $30.6 million, driven primarily by new Spire Missouri rates effective October 2025, higher Missouri Infrastructure System Replacement Surcharge (ISRS) revenues, and Spire Alabama rates under the Rate Stabilization and Equalization (RSE) mechanism that were effective December 2025. Margin also benefited from higher Spire Alabama usage, net of weather mitigation, and favorable CCM performance. Favorable off-system sales at Spire Missouri and Spire Alabama also benefited earnings.

Operation and maintenance expense was $3.8 million higher in the quarter compared to prior year. After adjusting for the impact of a pension reclass and bad debt expense, operation and maintenance expense increased $0.4 million, reflecting higher non-payroll expenses partially offset by a reduction in employee-related costs.

Depreciation expense increased $11.8 million year over year, driven by capital investment and updated depreciation schedules implemented under Spire Mi

EX-99.1

2 sr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Investor Contact: Megan L. McPhail 314-309-6563 Megan.McPhail@SpireEnergy.com

Media Contact: Jason Merrill 314-342-3300 Jason.Merrill@SpireEnergy.com

For Immediate Release

Spire reports FY26 second quarter results

ST. LOUIS (May 6, 2026) – Spire Inc. (NYSE: SR) today reported results for its fiscal 2026 second quarter ended March 31. Highlights include:

• Completed acquisition of the Piedmont Natural Gas Tennessee business on March 31, 2026

• Following quarter-end, completed sale of Spire Marketing; announced agreements to sell Spire Storage and Spire Mississippi

• Second quarter net income of $217.6 million ($3.51 per diluted share) compared to $189.3 million ($3.17 per share) a year ago

• Second quarter adjusted earnings* from continuing operations of $223.7 million ($3.76 per share) compared to $189.3 million ($3.17 per share) a year ago

• Second quarter net income and adjusted earnings reflect the classification of Spire Marketing and Spire Storage as discontinued operations, with prior-period results presented accordingly

• Updated fiscal 2026 adjusted earnings guidance from continuing operations to $3.90–$4.10

• Reaffirmed fiscal 2027 adjusted earnings guidance range of $5.40–$5.60

• Reaffirmed long-term adjusted earnings growth target of 5-7%

During fiscal 2026, Spire continued to focus on its regulated gas utility businesses, enhancing its risk profile and improving long-term earnings visibility. As previously announced, Spire entered into agreements to sell Spire Marketing, Spire Storage and Spire Mississippi. Accordingly, Spire Marketing and Spire Storage are reported as discontinued operations beginning in the second quarter of fiscal 2026. Going forward, Spire will report results of its natural gas utilities in one reportable segment, Gas Utility, with remaining operations, including the Spire MoGas Pipeline, reported as Other. Results and guidance discussed in this release reflect continuing operations unless otherwise noted.

Second quarter results reflected solid performance across Spire's gas utilities, supported by new rates, infrastructure investment and disciplined cost management. Earnings improved quarter-over-quarter, primarily driven by new Spire Missouri and Spire Alabama rates. These were partially offset by lower Missouri weather-related usage, net of weather mitigation, Spire Alabama Rate customer refund provisions under the Rate Stabilization and Equalization (RSE) framework and higher depreciation expense. While earnings improved year-over-year, lower weather-related usage weighed on results and performance versus expectations, resulting in a reduction to fiscal 2026 adjusted earnings guidance expectations.

“Our second quarter results demonstrate continued progress as we focus on our core regulated gas utility businesses,” said Scott Doyle, president and chief executive officer of Spire. “I am pleased with the disciplined execution of our strategic initiatives, including the successful completion of the Tennessee acquisition and the processes supporting our recent divestitures. These actions reinforce our focus on regulated growth, improve earnings visibility and strengthen our financial foundation. While results in Missouri were impacted by lower weather-related usage that was not fully mitigated, our long-term growth outlook remains unchanged. We remain confident in our ability to safely and reliably serve our customers while delivering shareholder value.”

Second Quarter Results

Three Months Ended March 31,

(Millions)

(Per Diluted Common Share)

2026

2025

2026

2025

Adjusted Earnings* (Loss) by Segment

Gas Utility Segment

$

234.8

$

195.2

Other

(11.1

)

(5.9

)

Total

$

223.7

$

189.3

$

3.76

$

3.17

Adjustments, pre-tax:

Acquisition activities1

(30.8

)

—

(0.52

)

—

Goodwill impairment

(3.9

)

—

(0.07

)

—

Gain on sale of subsidiary

28.9

—

0.49

—

Income tax effect of adjustments

(0.3

)

—

(0.01

)

—

Preferred share redemption cost

(0.14

)

—

Net Income

$

217.6

$

189.3

$

3.51

$

3.17

Weighted Average Diluted Shares Outstanding

59.2

58.5

*Non-GAAP, see “Adjusted Earnings and Reconciliation to GAAP.”

(1) Includes transaction, transition and financing costs for the Piedmont Tennessee Transaction.

Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as impairments and certain regulatory, legislative, or GAAP standard-setting actions. Second quarter fiscal 2026 excludes redemption costs from the redemption of preferred stock. In addition, adjusted earnings per share would exclude the impact, in the fiscal year of issuance, of any shares issued to finance such activities that have yet to be included in ad

EX-99.1

2 sr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Investor Contact: Megan L. McPhail 314-309-6563 Megan.McPhail@SpireEnergy.com

Media Contact: Jason Merrill 314-342-3300 Jason.Merrill@SpireEnergy.com

For Immediate Release

Spire reports FY26 first quarter results

ST. LOUIS (Feb. 3, 2026) – Spire Inc. (NYSE: SR) today reported results for its fiscal 2026 first quarter ended December 31. Highlights include:

• First quarter net income of $95.0 million ($1.54 per diluted share) compared to $81.3 million ($1.34 per share) a year ago

• First quarter adjusted earnings* of $108.4 million ($1.77 per share) compared to $81.1 million ($1.34 per share) a year ago, an increase of $0.43

• Affirmed fiscal 2026 adjusted earnings guidance range of $5.25–$5.45

• Affirmed fiscal 2027 adjusted earnings guidance range of $5.65–$5.85

For fiscal 2026 first quarter, Gas Utility earnings increased reflecting higher earnings at Spire Missouri and Spire Alabama. The segment benefited from new rates across all of the utilities, offset, in part, by lower volumetric margin in Missouri and Alabama and higher depreciation expense. Midstream earnings reflected growth as a result of additional capacity for Spire Storage. Gas Marketing earnings were higher than the prior year due to incremental portfolio optimization.

“Our strong first quarter results underscore the effectiveness of our regulatory strategy and the dedication our team delivers every day,” said Scott Doyle, president and chief executive officer of Spire. “By continuing to modernize our systems, strengthen regulatory engagement and maintain disciplined cost management, we are creating meaningful value for our customers and shareholders. We are confident in our ability to continue delivering sustainable growth while safely and reliably providing affordable service to the customers and communities we serve.”

First Quarter Results

Three Months Ended December 31,

(Millions)

(Per Diluted Common Share)

2025

2024

2025

2024

Adjusted Earnings* (Loss) by Segment

Gas Utility

$

103.9

$

77.8

Gas Marketing

4.5

2.2

Midstream

12.7

12.0

Other

(12.7

)

(10.9

)

Total

$

108.4

$

81.1

$

1.77

$

1.34

Fair value and timing adjustments, pre-tax

(9.2

)

0.3

(0.16

)

0.01

Acquisition activities, pre-tax

(8.5

)

—

(0.14

)

—

Income tax effect of adjustments

4.3

(0.1

)

0.07

(0.01

)

Net Income

$

95.0

$

81.3

$

1.54

$

1.34

Weighted Average Diluted Shares Outstanding

59.2

57.9

*Non-GAAP, see “Adjusted Earnings and Reconciliation to GAAP.”

Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as impairments and certain regulatory, legislative, or GAAP standard-setting actions.

Gas Utility

Gas Utility fiscal 2026 first quarter adjusted earnings were $103.9 million, an increase from $77.8 million in the prior year, driven by higher earnings at Spire Missouri and Spire Alabama.

Contribution margin was higher by $48.0 million primarily due to new Spire Missouri rates and Infrastructure System Replacement Surcharge (ISRS) revenues in addition to higher margins at Spire Alabama under the Rate Stabilization and Equalization (RSE). These favorable items were partially offset by lower Spire Missouri and Spire Alabama volumetric margin.

After adjusting for the impact of a pension reclass and bad debt expense, operation and maintenance expense was $1.4 million higher than a year ago, reflecting an increase in operating costs, offset, in part, by lower employee-related costs.

Depreciation expense increased $6.7 million from last year, reflecting increased capital investment and an updated amortization schedule as part of Spire Missouri’s new rates. Interest expense increased $1.7 million as a result of higher long-term debt balances, offset, in part, by lower short-term rates.

Gas Marketing

Gas Marketing fiscal 2026 first quarter adjusted earnings were $4.5 million compared to $2.2 million in the prior year. The higher earnings reflect increased optimization of their portfolio year over year.

Midstream

Midstream fiscal 2026 first quarter adjusted earnings were $12.7 million, up from $12.0 million in the year-ago period. The improvement was driven by higher Spire Storage revenue reflecting additional capacity, partially offset by higher depreciation and interest expense.

Other

Spire’s other activities reported an adjusted loss of $12.7 million versus an adjusted loss of $10.9 million in the prior year. The variance in earnings is primarily due to higher corporate costs and interest expense.

Financing Update

During the first fiscal quarter, Spire advanced its financing strategy to support both the Tennessee acquisition and its ongoing capital plan. Acquisition-related financing inclu