Q4 2025 Spire Inc Earnings Call Transcript
Key Points
- Spire Inc (SR) reported an adjusted EPS of $4.44 for fiscal 2025, marking a 7.5% increase from the previous year.
- The company invested $922 million in fiscal 2025, with nearly 90% allocated to utilities, enhancing system reliability and safety.
- Spire Inc (SR) achieved a positive settlement in the Missouri rate case, with new rates effective in October.
- The company issued fiscal 2026 adjusted EPS guidance of $5.25 to $5.45, indicating strong growth expectations.
- Spire Inc (SR) announced a 5.1% dividend increase, continuing its long history of dividend growth since 1946.
- The fourth-quarter adjusted loss was $24 million, or $0.47 per share, due to higher utility O&M expenses.
- Higher operating costs and increased interest and depreciation expenses impacted the Midstream segment.
- The company faces challenges with slightly lower usage in Alabama and higher O&M and depreciation expenses.
- Spire Inc (SR) anticipates higher O&M expenses in fiscal 2026, although they aim to keep them below the rate of inflation.
- The pending acquisition of the Piedmont Tennessee business introduces uncertainties, including regulatory approvals and integration challenges.
Good morning, and welcome to Spire's Fiscal 2025 year-end earnings conference call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Megan McPhail, Managing Director, Investor Relations. Please go ahead.
Good morning, and welcome to Spire's Fiscal 2025 year-end earnings call. On the call with me today is Scott Doyle, President and CEO; and Adam Woodard, Executive Vice President and CFO. We issued an earnings news release this morning, and you may access it on our website at spireenergy.com under Newsroom.
There is a slide presentation that accompanies our webcast, which can be downloaded from our website under Investors and then Events and Presentations.
Before we begin, let me cover our Safe Harbor statement and use of non-GAAP earnings measures. Today's call, including responses to questions, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although our forward
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