Overview

* Spire fiscal Q3 net income $20.9 mln, reversing loss from last year

* Adjusted EPS of $0.01 beats analyst expectations, per LSEG data

* Co to acquire Piedmont Natural Gas Tennessee for $2.48 bln, closing in Q1 2026

Outlook

* Spire reaffirms fiscal 2025 adjusted EPS guidance of $4.40-$4.60

* Company expects long-term EPS growth of 5-7%

* Spire targets $7.4 bln capital investment through fiscal 2034

* Company increases fiscal 2025 capital expenditures to $875 mln

Result Drivers

* GAS UTILITY - Earnings improved due to new rates, offset by higher operation and maintenance expenses and depreciation

* GAS MARKETING - Earnings increased as the business was well-positioned to create value

* MIDSTREAM - Earnings rose due to higher storage earnings from additional capacity and asset optimization

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $0.01 -$0.1 (7

Adjusted Analysts

EPS )

Q3 EPS $0.29

Q3 Net $20.90

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the natural gas utilities peer group is "buy."

* Wall Street's median 12-month price target for Spire Inc ( SR ) is $81.50, about 6.9% above its August 4 closing price of $75.91

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)