Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMoby IntelligenceWed, August 5, 2026 at 11:06 PM GMT+2 2 min readSpire Inc. Q3 2026 Earnings Call Summary - MobyStrategic Transformation and Operational ContextOur analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.Completed the divestiture of Spire Marketing and Spire Storage, finalizing the transition to a fully regulated utility model to enhance earnings predictability.Integration of Spire Tennessee is progressing as planned, with the company on track to exit transition services by fiscal 2027.Performance improvement in the Gas Utilities segment was driven by new rates in Missouri and Alabama, offsetting higher bad debt and interest expenses.The strategic shift to a fully regulated profile is intended to reduce earnings volatility and align growth with rate base expansion and constructive regulatory mechanisms.Management highlighted the critical role of natural gas in the energy future, citing EIA forecasts of record production and demand levels in 2026.Operational focus remains centered on affordability and disciplined cost management, with utility O&M tracking below the rate of inflation.Growth Outlook and Guidance FrameworkReaffirmed long-term adjusted EPS growth target of 5% to 7%, using the original fiscal 2027 midpoint of $5.75 as the base.Growth is underpinned by a $11.2 billion 10-year capital plan supporting approximately 7% rate base growth.Fiscal 2026 is characterized as a transition year for credit metrics due to concurrent acquisition and divestiture activities.Management expects fiscal 2028 to be a 'step-up' year for earnings, driven by the recovery of regulatory lag and the implementation of the Missouri future test year.The company targets an FFO-to-debt ratio of 14% to 15% by the end of 2028, supported by reduced business risk from portfolio simplification.Regulatory and Structural DevelopmentsReached a settlement in the Missouri accounting authority order proceeding, establishing a collaborative path to improve weather normalization mechanisms.The sale of Spire Mississippi remains targeted for closure in the first quarter of fiscal 2027.Maintained a $375 million interest rate hedge portfolio to mitigate exposure to higher borrowing costs and alleviate pressure on credit metrics.Reported a significant after-tax gain on sale of $254.6 million from discontinued operations during the third fiscal quarter.Q&A Session HighlightsOne stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.Factors supporting higher ROE requests in Alabama and GulfTerms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info