Spire(US:SR) Prnewswire·2025-11-14 12:00Core Insights - Spire Inc. reported consolidated adjusted earnings per share of $4.44 for fiscal year 2025, reflecting a 7.5% increase from $4.13 in fiscal 2024, driven by improved gas utility and midstream earnings [1][8][10]. Financial Performance - For fiscal 2025, Spire's total adjusted earnings reached $275.5 million, up from $247.4 million in fiscal 2024 [8][10]. - The net income for fiscal 2025 was $271.7 million, compared to $250.9 million in fiscal 2024 [8][10]. - The company expects adjusted EPS for fiscal 2026 to be in the range of $5.25 to $5.45 and for fiscal 2027 to be between $5.65 and $5.85 [12][13]. Segment Performance - Gas Utility adjusted earnings increased to $231.4 million in fiscal 2025 from $220.8 million in fiscal 2024, primarily due to higher earnings at Spire Missouri and Spire Alabama [3][10]. - Midstream adjusted earnings rose significantly to $56.3 million in fiscal 2025 from $33.5 million in fiscal 2024, attributed to additional storage capacity and new contracts at higher rates [10][11]. - Gas Marketing adjusted earnings improved to $25.9 million in fiscal 2025 from $23.4 million in fiscal 2024, benefiting from a favorable market position [9][10]. Operational Highlights - Contribution margin increased by $37.5 million, mainly due to new rates at Spire Alabama and higher ISRS revenues at Spire Missouri, despite lower usage [4][10]. - Operating and maintenance expenses rose by $13.1 million, or 3.1%, due to higher employee costs and non-payroll related expenses [5][10]. - Depreciation expense increased by $14.0 million, reflecting higher capital investments [6][10]. Dividend and Capital Investment - The board of directors raised the common stock dividend by 5.1%, marking 23 consecutive years of dividend growth [15]. - Spire has increased its 10-year capital investment target to $11.2 billion, supporting long-term adjusted EPS growth of 5-7% [14].