SPIRE INC

Spire Inc. reported a net loss from continuing operations of $(42.6) million, or $(0.72) per diluted share, for the third quarter of fiscal 2026. The adjusted loss from continuing operations was $(15.7) million, or $(0.26) per share. The company reaffirmed its fiscal 2026 and 2027 adjusted earnings guidance, as well as its long-term adjusted earnings growth target. Spire also announced the completion of divestitures for its Spire Marketing and Spire Storage businesses, focusing on its fully regulated gas utility operations.

Spire Inc. has recast its fiscal year 2025 quarterly financial information to present Spire Marketing and Spire Storage as discontinued operations, following recent dispositions. The company also revised its reportable segments, moving Spire MoGas and Spire STL Pipeline from the Midstream segment to "Other." This reclassification is purely presentational, with consolidated net income, total assets, stockholders' equity, and cash flows remaining unchanged from previously reported figures.

Spire Inc. has completed the sale of its natural gas storage businesses, including Belle Butte LLC, Spire Storage West LLC, and Spire Storage Salt Plains LLC, to an affiliate of I Squared Capital for a total consideration of $657 million. This amount comprises $607 million in cash received at closing and a $50 million deferred payment due by September 30, 2027. The company intends to use the net proceeds to support its regulated natural gas utility operations, fund its capital investment plan, reduce debt, and partially fund the previously completed acquisition of the Piedmont Natural Gas Tennessee business, thereby sharpening its strategic focus.

Spire Inc. reported strong second quarter fiscal 2026 results, with adjusted earnings from continuing operations rising to $3.76 per diluted share from $3.17 a year ago, and net income increasing to $3.51 per diluted share. The company completed the acquisition of Piedmont Natural Gas Tennessee and announced further divestitures of non-core assets, including the sale of Spire Marketing and agreements to sell Spire Storage and Spire Mississippi, to focus on regulated gas utility businesses. However, Spire updated its fiscal 2026 adjusted earnings guidance from continuing operations to $3.90–$4.10 per share, reflecting lower weather-related usage, while reaffirming its fiscal 2027 and long-term growth targets.

Spire Inc. announced the completion of the sale of its gas marketing business, Spire Marketing Inc., to Boardwalk Pipelines, LP for $215.0 million in cash. This divestment, effective April 30, 2026, allows Spire to sharpen its focus on core regulated natural gas utility operations, improve its risk profile, and enhance long-term earnings visibility. The proceeds from the sale will be used to partially fund Spire's acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposes.

Spire EnergySouth Inc., a subsidiary of Spire Inc., has entered into a Stock Purchase Agreement with Delta Mississippi Gas Company, LLC. The agreement, dated April 21, 2026, outlines the sale of all outstanding stock of Spire Mississippi Inc. This transaction represents a divestment of a subsidiary by Spire.

Spire Midstream LLC, a subsidiary of SPIRE INC, entered into a Membership Interest Purchase Agreement with Subterra Energy Holdings, LLC on April 14, 2026. The agreement details the sale and purchase of membership interests, outlining the purchase price, closing adjustments, and various representations, warranties, and covenants from both parties. This transaction represents a divestment for Spire Midstream.