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- Goodwill Impairment (new) — Spire recorded a $3.9 million goodwill impairment charge in Q2 FY26, signaling asset value write-down.
Spire cuts FY26 guidance to $3.90–$4.10 on weather headwinds, completes Tennessee acquisition
Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read
Key Changes
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Spire lowered fiscal 2026 adjusted earnings guidance to $3.90–$4.10 per share from prior range, citing lower-than-expected weather-related usage in Missouri that weather protection mechanisms did not fully offset.
Exhibit 99.1 view on EDGAR → -
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Completed acquisition of Piedmont Natural Gas Tennessee business on March 31, 2026, expanding regulated utility footprint; announced divestitures of Spire Marketing (completed), Spire Storage, and Spire Mississippi to focus on core regulated operations.
Exhibit 99.1 view on EDGAR → -
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Q2 FY26 net income rose to $217.6 million ($3.51 per share) from $189.3 million ($3.17 per share) year-ago; adjusted earnings from continuing operations were $223.7 million ($3.76 per share) versus $189.3 million ($3.17 per share).
Exhibit 99.1 view on EDGAR → -
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Recorded $3.9 million goodwill impairment charge ($0.07 per share) in Q2 FY26, excluded from adjusted earnings.
Exhibit 99.1 view on EDGAR → -
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Board declared quarterly dividend of $0.7175 per share, payable July 2, 2026 to shareholders of record June 9, 2026, maintaining regular distribution.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
Summary
Spire reported mixed second-quarter fiscal 2026 results and lowered full-year guidance, citing weather impacts that offset operational gains. Net income rose to $217.6 million ($3.51 per share) from $189.3 million ($3.17 per share) year-ago, with adjusted earnings from continuing operations climbing to $223.7 million ($3.76 per share).
However, management cut fiscal 2026 adjusted earnings guidance to $3.90–$4.10 per share, down from the prior range, due to lower-than-expected weather-related usage in Missouri that weather protection mechanisms did not fully mitigate. The company reaffirmed fiscal 2027 guidance of $5.40–$5.60 per share and its long-term 5–7% growth target.
Spire completed the acquisition of Piedmont Natural Gas Tennessee on March 31, 2026, expanding its regulated utility footprint, and announced strategic divestitures of non-core assets: Spire Marketing (completed post-quarter), Spire Storage, and Spire Mississippi. These moves sharpen the company's focus on regulated gas distribution and improve earnings visibility. The company also redeemed $242 million of 5.9% Series A Preferred Stock in February 2026, incurring $8 million in redemption costs, and recorded a $3.9 million goodwill impairment charge in the quarter. Retail holders should watch whether weather normalization and the Tennessee acquisition's contribution allow Spire to meet its revised guidance and return to the long-term growth trajectory in fiscal 2027.
Section-by-Section Diff
Event · Exhibit 99.1
Spire reported Q2 FY26 results, completed Tennessee acquisition, announced divestitures, and lowered FY26 guidance due to weather impacts.
Added in current filing · view on EDGAR →
Following quarter-end, completed sale of Spire Marketing; announced agreements to sell Spire Storage and Spire Mississippi
• 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
Spire completed the sale of Spire Marketing after quarter-end and announced agreements to sell Spire Storage and Spire Mississippi. Spire Marketing and Spire Storage are now classified as discontinued operations, with prior-period results restated accordingly. These divestitures reflect the company's strategic focus on regulated gas utility businesses and improve earnings visibility.
Added in current filing · view on EDGAR →
Updated fiscal 2026 adjusted earnings guidance from continuing operations to $3.90–$4.10 ... 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.
Spire lowered its fiscal 2026 adjusted earnings guidance from continuing operations to $3.90–$4.10 per share. The reduction reflects lower-than-expected weather-related usage in Missouri that was not fully mitigated by weather protection mechanisms, despite solid underlying utility performance. The company reaffirmed its fiscal 2027 guidance of $5.40–$5.60 and long-term 5-7% growth target.
Added in current filing · view on EDGAR → · paraphrased
Preferred share redemption costs | (0.14) | —
Redemption of preferred shares | (242.0) | —
Preferred share redemption cost (8.0 ) —
Preferred share redemption costs | 8.0 | — | 8.0 | —
Spire redeemed $242.0 million of its 5.9% Series A Preferred Stock in February 2026, incurring $8.0 million in redemption costs ($0.14 per share). The redemption costs were excluded from adjusted earnings but reduced GAAP net income available to common shareholders.
Event · Item 7.01 — Regulation FD Disclosure
Spire Inc disclosed Q2 fiscal 2026 earnings results for the three and six months ended March 31, 2026.
Added in current filing · verify on EDGAR →
On May 6, 2026, the Company issued an earnings news release announcing its results for the three and six months ended March 31, 2026.
Spire Inc disclosed its financial results for the second quarter and first half of fiscal year 2026, covering the three and six months ended March 31, 2026. The earnings release is attached as Exhibit 99.1, though the specific financial metrics are not detailed in the 8-K body itself.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify