Spire Misses Q4 Estimates but Raises Multi-Year Earnings Guidance

Core Insights - Spire Inc. reported a wider-than-expected fourth-quarter loss, with an adjusted loss of $0.47 per share, missing analyst estimates of a $0.43 loss, and revenue of $334.1 million, significantly below expectations of $422.84 million [1] - Despite the loss, the company raised its earnings outlook for the next two fiscal years, projecting adjusted earnings of $5.25 to $5.45 per share for fiscal 2026 and $5.65 to $5.85 per share for fiscal 2027, both above consensus estimates [2] Financial Performance - For fiscal 2025, Spire reported adjusted earnings of $4.44 per share, reflecting a 7.5% increase from $4.13 in the prior year [2] - The Gas Utility segment generated adjusted earnings of $231.4 million in fiscal 2025, up from $220.8 million the previous year, driven by new rates at Spire Alabama and higher surcharge revenues at Spire Missouri [3] - The Midstream segment's earnings increased to $56.3 million from $33.5 million, attributed to expanded storage capacity and contract renewals at higher rates [3]