Spire falls as FY2026 profit outlook cut on weaker Missouri weather-driven demand
Spire shares slid after the company cut its fiscal 2026 adjusted EPS outlook to $3.90–$4.10, well below prior expectations, despite posting Q2 adjusted EPS of $3.76. Management pointed to lower weather-driven gas usage in Missouri and said the weakness wasn’t fully offset by weather-protection mechanisms.
1. What’s moving the stock
Spire (SR) is trading lower on Wednesday, May 6, 2026, after lowering its fiscal 2026 adjusted earnings guidance to $3.90–$4.10 per share. The guidance reset is overshadowing a quarterly bottom-line beat, with investors focusing on the reduced full-year earnings power and the drivers behind the weaker outlook. (prnewswire.com)
2. Key numbers from the update
For the fiscal second quarter ended March 31, 2026, Spire reported adjusted EPS of $3.76, while revenue came in at about $1.02 billion. Even with the EPS outperformance versus some estimates, the company’s revised FY2026 range implies a materially lower run-rate for the remainder of the fiscal year than many investors had been modeling. (investing.com)
3. What changed: weather-driven demand and portfolio shift
Spire attributed the guidance cut primarily to lower weather-related usage in Missouri that was not fully mitigated by weather protection mechanisms. The company also said the updated FY2026 view reflects classification of Spire Marketing and Spire Storage as discontinued operations as it reshapes the portfolio toward regulated utility operations. (investing.com)
4. What to watch next
Investors will be watching for additional detail on the remaining FY2026 demand outlook in Missouri, the cadence and financial impact of the portfolio actions (including the completed Spire Marketing sale and the pending Spire Storage transaction), and whether Spire can stabilize expectations into fiscal 2027, which management reaffirmed in the $5.40–$5.60 adjusted EPS range. (investing.com)