Spire Inc. (NYSE: SR) recasts fiscal 2025 continuing operations earnings

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Spire Inc. is providing investors with updated, unaudited fiscal 2025 quarterly financial information that reflects recent business changes. After selling the assets of Spire Marketing Inc. and Spire Storage, their results now appear as discontinued operations, while Spire MoGas and Spire STL Pipeline have been moved from the Midstream segment into Other.

The company emphasizes this is a presentational recast only: consolidated net income, total assets, stockholders’ equity, and cash flows for each period remain unchanged. An investor presentation with the recast continuing-operations earnings, including adjusted earnings that exclude $15 of acquisition-related expenses (net of tax $11.6) in Q4 and year-to-date, is furnished as Exhibit 99.1 under Regulation FD.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Acquisition-related expenses excluded from adjusted earnings: $15 Net-of-tax impact of excluded expenses: $11.6

2 metrics

Acquisition-related expenses excluded from adjusted earnings <money>$15</money> Q4 and year-to-date fiscal 2025, continuing operations

Net-of-tax impact of excluded expenses <money>$11.6</money> Q4 and year-to-date fiscal 2025, continuing operations

Key Terms

discontinued operations, Regulation FD, segment reporting, non-GAAP measures, +1 more

5 terms

discontinued operations financial

"the operations of Spire Marketing Inc. and Spire Storage met the criteria for presentation as discontinued operations"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

Regulation FD regulatory

"The information contained in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Regulation FD"

Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.

segment reporting financial

"the Company revised its reportable segments, and results of Spire MoGas and Spire STL Pipeline...are now included in Other"

Segment reporting is the practice of breaking a company's financial results into the separate parts of its business—such as product lines, geographic areas, or divisions—so outsiders can see how each part is performing. For investors, it matters because it reveals which areas drive profit or loss, like inspecting individual rooms in a house to know which need repair or add value, helping assess growth prospects and risks more accurately.

non-GAAP measures financial

"This presentation includes "adjusted earnings" and "adjusted earnings per share" which are non-GAAP measures used internally by management"

Financial results that companies present using formulas or adjustments different from standard accounting rules (GAAP) to highlight what management considers the business’s ongoing performance. Investors care because these figures can make trends or profitability look clearer—like showing a car’s fuel efficiency after removing unusual trips—but they can also hide one‑time costs or aggressive assumptions, so comparing them with GAAP numbers helps judge reliability.

adjusted earnings financial

"Adjusted earnings in Q4 and YTD excludes expenses of $15 related to acquisition activities (net of tax $11.6)"

Adjusted earnings are a company’s profit figure that has been altered to remove one-time, unusual or non-operational items so it better reflects the business’s regular performance. Think of it like looking at a household budget but ignoring a big, unusual expense or windfall to see what normal monthly cash flow looks like; investors use adjusted earnings to compare companies and trends, but should watch what is excluded because choices can change the picture.

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Understanding 8-K Material Events →

Available on EDGAR 07/08/2026 - 04:32 PM Accepted by SEC EDGAR 07/08/2026 - 04:32 PM

FAQ

What did Spire Inc. (SR) disclose in this 8-K filing?

Spire Inc. furnished updated fiscal 2025 quarterly earnings for continuing operations. The recast reflects discontinued operations for Spire Marketing and Spire Storage and a segment change for Spire MoGas and Spire STL Pipeline, without altering consolidated net income, assets, equity, or cash flows.

How did Spire Inc. change its segment reporting in this update?

Spire Inc. moved Spire MoGas and Spire STL Pipeline from the Midstream segment into Other. This affects how results are grouped by segment but does not change previously reported consolidated net income, total assets, stockholders’ equity, or cash flows for fiscal 2025.

What businesses are treated as discontinued operations for Spire Inc. (SR)?

The operations of Spire Marketing Inc. and Spire Storage are now presented as discontinued operations. This follows recent asset dispositions and means their results are excluded from continuing operations in the recast fiscal 2025 quarterly financial information Spire provided.

Does the Spire Inc. earnings recast change previously reported fiscal 2025 results?

The recast changes presentation but not the underlying results. Spire states consolidated net income, total assets, stockholders’ equity, and cash flows for each period are unchanged, indicating the update only reclassifies activities and segments for reporting clarity.

What is included in Exhibit 99.1 to Spire Inc.’s 8-K?

Exhibit 99.1 is an investor presentation titled "Fiscal 2025 Continuing Operations Earnings Recast (unaudited)." It provides recast GAAP and adjusted earnings for continuing operations and explains exclusions such as $15 of acquisition-related expenses, net of tax $11.6, from adjusted earnings.

How does Spire Inc. define adjusted earnings in this presentation?

Spire’s adjusted earnings remove impacts from acquisition, divestiture and restructuring activities, largely non-cash impairments, and certain regulatory, legislative or GAAP actions. The company notes these non-GAAP measures supplement, but do not replace, traditional GAAP metrics like operating income and net income.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 8, 2026

     Commission
File Number

     Name of Registrant, Address of Principal
Executive Offices and Telephone Number

     State of
Incorporation

     IRS Employer
Identification No.

     1-16681

     Spire Inc.
700 Market Street 
St. Louis, MO 63101 
314-342-0500

     Missouri

     74-2976504

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered

Common Stock $1.00 par value	SR	New York Stock Exchange LLC
6.375% Junior Subordinated Notes due 2086	SRJN	New York Stock Exchange LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

As previously disclosed, during the second quarter of fiscal 2026, management of Spire Inc. (the “Company”) determined that as a result of recent dispositions, the operations of Spire Marketing Inc. (“Spire Marketing”) and Spire Storage met the criteria for presentation as discontinued operations under Accounting Standards Codification Topic 205-20, Presentation of Financial Statements—Discontinued Operations (“ASC 205-20”). In addition, the Company revised its reportable segments, and results of Spire MoGas and Spire STL Pipeline, previously reflected in the Midstream segment, are now included in Other.

In accordance with ASC 205-20, the Company has recast its previously reported fiscal year 2025 quarterly financial information to present the results of Spire Marketing and Spire Storage as discontinued operations for all periods presented and to reflect a change in segment reporting. This reclassification is presentational only. Consolidated net income, total assets, stockholders’ equity, and cash flows as previously reported for each period are unchanged. This Current Report and the Exhibit attached hereto are not an amendment to, or a restatement of, the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025, nor do they revise any other information contained in that report.

An investor presentation containing the unaudited recast quarterly financial information is included in Exhibit 99.1 attached to this Current Report on Form 8-K and has been made available on the Investor Relations section of its website at https://investors.spireenergy.com.

The information contained in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Regulation FD and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Forward-Looking Information

This Current Report contains certain statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding our future financial performance, business strategy, market conditions, and other anticipated developments. These statements are based on current expectations, estimates, forecasts, and projections, as well as management’s beliefs and assumptions. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Actual outcomes and results may differ materially from those expressed or implied in these statements due to various factors, including those described in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, except as required by law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:


Exhibit No.	Description
99.1	Fiscal 2025 Continuing Operations Earnings Recast (unaudited)
104	Cover Page Interactive Data File (formatted in Inline XBRL and included in the Interactive Data Files submitted under Exhibit 101).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		Spire Inc.
Date:	July 8, 2026	By:	/s/ Adam Woodard
			Adam Woodard Executive Vice President and Chief Financial Officer

Fiscal 2025 continuing operations earnings recast (unaudited) July 8, 2026 Exhibit 99.1

FY25 GAAP earnings – continuing operations1 Spire | Fiscal 2025 continuing operations earnings recast (unaudited) 2 1Continuing operations excludes results from Spire Marketing and Spire Storage due to the sale of the assets. Spire Mississippi is included in continuing operations. Spire MoGas and Spire STL Pipeline results, previously reflected in the Midstream segment, are now included in Other.

FY25 adjusted earnings – continuing operations1,2 Spire | Fiscal 2025 continuing operations earnings recast (unaudited) 3 1Continuing operations excludes results from Spire Marketing and Spire Storage due to the sale of the assets. Spire Mississippi is included in continuing operations. Spire MoGas and Spire STL Pipeline results, previously reflected in the Midstream segment, are now included in Other. 2Adjusted earnings in Q4 and YTD excludes expenses of $15.2M related to acquisition activities (net of tax $11.6).

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Our forward-looking statements in this presentation speak only as of today, and we assume no duty to update them. Forward-looking statements are typically identified by words such as, but not limited to: “estimates,” “expects,” “anticipates,” “intends,” “targets,” “plans,” “forecasts,” and similar expressions. Although our forward-looking statements are based on reasonable assumptions, various uncertainties and risk factors may cause future performance or results to be materially different from those anticipated, including, among other things, weather conditions and catastrophic events; economic factors; the competitive environment; governmental and regulatory policy and action; the satisfaction of conditions to, and the timing and completion of, the announced dispositions (including receipt of required regulatory approvals); our ability to realize anticipated benefits from completed and announced transactions; transaction costs and potential disruption from completed and announced transactions; and our ability to retain and hire key personnel. More complete descriptions and listings of these uncertainties and risk factors can be found in our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. This presentation includes "adjusted earnings" and "adjusted earnings per share" which are non-GAAP measures used internally by management when evaluating the Company's performance and results of operations. Adjusted earnings exclude from net income, to the extent incurred in a given period, the impacts of acquisition, divestiture and restructuring activities, the largely non-cash impacts of impairments, and the impacts of certain regulatory, legislative, or GAAP standard-setting actions. These internal non-GAAP operating metrics should not be considered as an alternative to, or more meaningful than, traditional GAAP measures such as operating income, net income, or earnings per share. Reconciliation of adjusted earnings to net income is contained in our SEC filings and in the Appendix to this presentation. Note: Years shown in this presentation are fiscal years ended September 30. Investor Relations contact: Megan L. McPhail Managing Director, Investor Relations 314-309-6563 | Megan.McPhail@SpireEnergy.com 4 Spire | Fiscal 2025 continuing operations earnings recast (unaudited) Forward-looking statements and use of non-GAAP measures

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

2 documents

Press Releases

EX-99.1 EX-99.1 4.9 KB