Spire Inc (SR)

Spire completes sale of natural gas storage businesses to I Squared Capital for $650 millionJune 30, 2026 4:30 PM
PR Newswire (US) Transaction sharpens Spire's focus on regulated natural gas utility businessesProceeds used to partially fund the acquisition of the Piedmont Natural Gas Tennessee businessSpire Storage employees and customers will become part of the new I Squared portfolio company Bear River Midstream LLCST. LOUIS, June 30, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today announced it has completed the sale of its natural gas storage businesses in Wyoming and Oklahoma ("Spire Storage") to I Squared Capital, effective June 30, 2026, for $650 million. Spire Storage employees and customers will become part of the new I Squared portfolio company Bear River Midstream LLC.Total consideration for the transaction consists of $600 million in cash received at closing and a $50 million fixed, non-contingent deferred payment to be received in Spire's fiscal year 2027.Proceeds from the transaction help fund Spire's previously completed acquisition of the Piedmont Natural Gas Tennessee business, which closed on March 31, 2026."This closing marks an important milestone for Spire as we continue to sharpen our focus on our core regulated utility business," said Scott Doyle, president and chief executive officer of Spire. "We're proud of the strong storage platform we built and are grateful to the employees who contributed to its success and the overall success of Spire. With this transaction complete, we've further enhanced our financial position and are well positioned to deliver long-term, sustainable value for our customers and shareholders.""With Bear River Midstream, we plan to enhance operational capabilities and pursue expansion opportunities that meet the increasing market demand for energy storage across the Western and Mid-Continent regions," said Scott Smith, chief executive officer of Bear River Midstream and former president of Spire Storage. "We are happy to provide our customers a seamless transition because the same operations and service teams customers already know will continue working with the company."The former Spire Storage business includes two storage fields in southwestern Wyoming and another in north central Oklahoma. In Wyoming, the natural gas storage assets are certificated to provide up to 55 Bcf of working gas capacity to customers primarily in the western United States. In Oklahoma, the storage asset markets in the midcontinent and midwestern United States and is connected to Southern Star Pipeline and Oklahoma Gas Transmission. That facility is authorized to provide up to 17 Bcf of working gas capacity.Greenhill, a Mizuho affiliate, acted as exclusive financial advisor to Spire. Vinson & Elkins LLP served as Spire's legal counsel. Kirkland & Ellis served as I Squared's legal advisor.About SpireAt Spire (NYSE: SR), our vision is to deliver a stronger energy future as an industry-leading natural gas provider. We safely and reliably serve the natural gas needs of close to 2 million homes and businesses through gas utilities in Alabama, Mississippi, Missouri and Tennessee, making us one of the largest publicly traded natural gas companies in the country. We are committed to transforming our business through growing organically, investing in infrastructure and driving continuous improvement. Learn more at SpireEnergy.com.About I Squared CapitalI Squared Capital is a leading independent global infrastructure investor dedicated to the mid-market, managing over $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power & utilities; transportation & logistics; digital infrastructure; environmental infrastructure; and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 70 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.About Bear River MidstreamBear River Midstream is a midstream energy company delivering safe and reliable natural gas storage across the Western and Mid-Continent United States. Backed by I Squared Capital and led by an experienced midstream energy team, the company's strategically located storage assets help balance supply and demand to ensure energy is available when customers need it most. Bear River Midstream serves utilities, pipelines, power generators, industrial customers and energy producers across key U.S. markets. Learn more at www.brmidstream.com.Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com  View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-completes-sale-of-natural-gas-storage-businesses-to-i-squared-capital-for-650-million-302814611.htmlSOURCE Spire Inc. Original: Spire completes sale of natural gas storage businesses to I Squared Capital for $650 million

Spire reports FY26 second quarter resultsMay 6, 2026 7:00 AM
PR Newswire (US) ST. LOUIS, May 6, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today reported results for its fiscal 2026 second quarter ended March 31. Highlights include: Completed acquisition of the Piedmont Natural Gas Tennessee business on March 31, 2026Following quarter-end, completed sale of Spire Marketing; announced agreements to sell Spire Storage and Spire MississippiSecond quarter net income of $217.6 million ($3.51 per diluted share) compared to $189.3 million ($3.17 per share) a year agoSecond quarter adjusted earnings* from continuing operations of $223.7 million ($3.76 per share) compared to $189.3 million ($3.17 per share) a year agoSecond quarter net income and adjusted earnings reflect the classification of Spire Marketing and Spire Storage as discontinued operations, with prior-period results presented accordinglyUpdated fiscal 2026 adjusted earnings guidance from continuing operations to $3.90–$4.10Reaffirmed fiscal 2027 adjusted earnings guidance range of $5.40–$5.60Reaffirmed long-term adjusted earnings growth target of 5-7%During fiscal 2026, Spire continued to focus on its regulated gas utility businesses, enhancing its risk profile and improving long-term earnings visibility. As previously announced, Spire entered into agreements to sell Spire Marketing, Spire Storage and Spire Mississippi. Accordingly, Spire Marketing and Spire Storage are reported as discontinued operations beginning in the second quarter of fiscal 2026. Going forward, Spire will report results of its natural gas utilities in one reportable segment, Gas Utility, with remaining operations, including the Spire MoGas Pipeline, reported as Other. Results and guidance discussed in this release reflect continuing operations unless otherwise noted.Second quarter results reflected solid performance across Spire's gas utilities, supported by new rates, infrastructure investment and disciplined cost management. Earnings improved quarter-over-quarter, primarily driven by new Spire Missouri and Spire Alabama rates. These were partially offset by lower Missouri weather-related usage, net of weather mitigation, Spire Alabama Rate customer refund provisions under the Rate Stabilization and Equalization (RSE) framework and higher depreciation expense. While earnings improved year-over-year, lower weather-related usage weighed on results and performance versus expectations, resulting in a reduction to fiscal 2026 adjusted earnings guidance expectations."Our second quarter results demonstrate continued progress as we focus on our core regulated gas utility businesses," said Scott Doyle, president and chief executive officer of Spire. "I am pleased with the disciplined execution of our strategic initiatives, including the successful completion of the Tennessee acquisition and the processes supporting our recent divestitures. These actions reinforce our focus on regulated growth, improve earnings visibility and strengthen our financial foundation. While results in Missouri were impacted by lower weather-related usage that was not fully mitigated, our long-term growth outlook remains unchanged. We remain confident in our ability to safely and reliably serve our customers while delivering shareholder value."Second Quarter Results
Three Months Ended March 31,


(Millions)

(Per Diluted Common Share)


2026

2025

2026

2025
Adjusted Earnings* (Loss) by Segment











Gas Utility Segment
$234.8

$195.2






Other

(11.1)


(5.9)






Total
$223.7

$189.3

$3.76

$3.17
Ajustments, pre-tax:
Acquisition activities1

(30.8)


—


(0.52)


—
Goodwill impairment

(3.9)


—


(0.07)


—
Gain on sale of subsidiary

28.9


—


0.49



Income tax effect of adjustments

(0.3)


—


(0.01)


—
     Preferred share redemption cost







(0.14)


—
Net Income
$217.6

$189.3

$3.51

$3.17
Weighted Average Diluted Shares Outstanding

59.2


58.5






 *Non-GAAP, see "Adjusted Earnings and Reconciliation to GAAP." (1) Includes transaction, transition and financing costs for the Piedmont Tennessee Transaction.Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as impairments and certain regulatory, legislative, or GAAP standard-setting actions. Second quarter fiscal 2026 excludes redemption costs from the redemption of preferred stock. In addition, adjusted earnings per share would exclude the impact, in the fiscal year of issuance, of any shares issued to finance such activities that have yet to be included in adjusted earnings.Continuing operationsFor the second fiscal quarter of 2026, Spire reported consolidated net income of $217.6 million ($3.51 per diluted share) compared to prior-year net income of $189.3 million ($3.17 per diluted share). Adjusted earnings were $223.7 million ($3.76 per share) compared to $189.3 million ($3.17 per share) last year. The results reflect growth at the Gas Utility, partially offset by higher corporate costs.Gas Utility fiscal 2026 second quarter adjusted earnings were $234.8 million, an increase from $195.2 million in the prior year, driven by higher earnings at Spire Missouri and Spire Alabama.Contribution margin was higher by $70.4 million primarily due to new Spire Missouri rates effective in October 2025 and Spire Alabama rates under the (RSE) mechanism that were effective in December 2025. Favorable off-system sales at Spire Missouri and Spire Alabama also benefited earnings. These favorable items were partially offset by lower Spire Missouri weather-related usage, net of weather mitigation, and the impact of Spire Alabama RSE customer refund provisions, which includes a reversal of an anticipated refund in fiscal 2025 and recognition of a customer refund in 2026.After adjusting for the impact of a pension reclass and bad debt expense, operation and maintenance expense was $1.9 million lower than a year ago, reflecting a reduction in employee-related costs, offset, in part, by higher non-payroll related expenses.Depreciation expense increased $12.1 million year over year, driven by capital investment and updated depreciation schedules implemented under Spire Missouri's new rates. Taxes other than income taxes increased $6.0 million primarily reflecting revised property tax amortization included in new rates at Spire Missouri. Interest expense increased $1.5 million due to higher long-term debt balances, partially offset by lower long-term and short-term rates.Spire's other activities reported an adjusted loss from continuing operations of $11.1 million versus an adjusted loss of $5.9 million in the prior year. The variance in earnings is primarily due to higher corporate costs and interest expense.Discontinued operationsSpire's adjusted earnings from discontinued operations increased from $20.0 million to $64.6 million during the second fiscal quarter driven primarily by growth at Spire Marketing.Year-to-Date Results
Six Months Ended March 31,


(Millions)

(Per Diluted Common Share)


2026

2025

2026

2025
Adjusted Earnings (Loss)* by Segment











Gas Utility Segment
$338.7

$273.0






Other

(21.2)


(11.6)






Total
$317.5

$261.4

$5.28

$4.36
Adjustments, pre-tax:
Acquisition activities1

(38.8)


—


(0.66)


—
Goodwill impairment

(3.9)


—


(0.07)


—
Gain on sale of subsidiary

28.9


—


0.49



Income tax effect of adjustments

1.7


—


0.03


—
Preferred share redemption costs







(0.14)


—
Net Income
$305.4

$261.4

$4.93

$4.36
Weighted Average Diluted Shares Outstanding

59.2


58.2






 *Non-GAAP, see "Adjusted Earnings and Reconciliation to GAAP." (1) Includes transaction, transition and financing costs for the Piedmont Tennessee Transaction.Continuing operationsFor the first six months of fiscal 2026, Spire reported consolidated net income of $305.4 million ($4.93 per diluted share) compared to prior-year net income of $261.4 million ($4.36 per diluted share). Adjusted earnings were $317.5 million ($5.28 per share) compared to $261.4 million ($4.36 per share) last year. The results reflect growth at the Gas Utility, partially offset by higher corporate costs.Gas Utility results reflect solid performance across all utilities. Earnings were higher primarily due to new Spire Missouri rates effective in October 2025 and Spire Alabama rates under the RSE mechanism that were effective in December 2025. After adjusting for the impact of a pension reclass and bad debt expense, lower operation and maintenance expenses and favorable off-system sales also benefited earnings compared to prior year. These items were offset, in part, by lower weather-related usage, net of weather mitigation, at Spire Missouri and Spire Alabama, higher depreciation costs, increased taxes other than income taxes and higher interest expense. Spire Alabama also recognized a customer refund provision in 2026 under the RSE framework.Spire's other activities reflect higher corporates costs and interest expense in the current year.Discontinued operationsSpire's adjusted earnings from discontinued operations increased from $29.2 million to $71.8 million during the first six months of fiscal 2026 driven primarily by growth at Spire Marketing.Guidance and OutlookSpire is updating its fiscal 2026 adjusted earnings guidance from continuing operations and reaffirming its fiscal 2027 guidance and long-term adjusted earnings growth target of 5-7%, underscoring the consistency of its long-term growth strategy and the strength of its regulated utilities.Spire now expects fiscal 2026 adjusted earnings from continuing operations to be in the range of $3.90–$4.10 per share, reflecting year-to-date results and the updated operating outlook, as well as the classification of Spire Marketing and Spire Storage as discontinued operations. This guidance excludes Spire Tennessee results.Spire continues to expect fiscal 2027 adjusted EPS to be in the range of $5.40–$5.60 from our ongoing businesses, which reflects a full year of earnings contributions from Spire Tennessee.Our 10-year $11.2 billion capital investment target through fiscal 2035 is driven by investment in infrastructure and new business. This plan supports Spire's long-term adjusted earnings per share growth of 5-7% using the original fiscal 2027 adjusted EPS guidance midpoint of $5.75 as a base. Expected total capital expenditures for continuing operations in fiscal 2026 is $797 million.Conference Call and WebcastSpire will host a conference call and webcast today to discuss its fiscal 2026 second quarter financial results. To access the call, please dial the applicable number approximately 5–10 minutes in advance.Date and Time:
Wednesday, May 6



8 a.m. CT (9 a.m. ET)






Phone Numbers:
U.S. and Canada:
844-824-3832

International:
412-317-5142The webcast can be accessed at Investors.SpireEnergy.com under Events & Presentations. A replay of the call will be available until May 13, 2026, by dialing 855-669-9658 (U.S. and Canada), or 412-317-0088 (international). The replay access code is 3309348.About SpireAt Spire (NYSE: SR), our vision is to deliver a stronger energy future as an industry-leading natural gas provider. We safely and reliably serve the natural gas needs of close to 2 million homes and businesses through gas utilities in Alabama, Mississippi, Missouri and Tennessee, making us one of the largest publicly traded natural gas companies in the country. We are committed to transforming our business through growing organically, investing in infrastructure and driving continuous improvement. Learn more at SpireEnergy.com.Forward-Looking Information and Non-GAAP MeasuresThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statements regarding our expectations, plans and objectives for future performance, future operating results, earnings guidance, capital investment plans, and the expected timing and benefits of, and risks associated with, acquisitions, dispositions and related integration and transition activities (including the acquisition of the Piedmont Natural Gas Tennessee business, the sale of Spire Marketing and the announced sales of Spire Storage and Spire Mississippi), are forward-looking statements. Forward-looking statements may be identified by words such as "estimates," "expects," "projects," "anticipates," "intends," "targets," "plans," "forecasts," "may," "likely," "would," "should," "anticipated" and similar expressions. Although the forward-looking statements contained in this news release are based on estimates and assumptions that management believes are reasonable, various uncertainties and risk factors may cause future performance or results to be different than 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 the Company's 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. Such forward-looking statements are made based on information available as of the date of this document, and Spire undertakes no obligation to revise or update such statements to reflect subsequent events or circumstances, except as otherwise required by securities and other applicable laws.This news release includes the non-GAAP financial measures of "adjusted earnings," "adjusted earnings per share," and "contribution margin." Management also uses these non-GAAP measures internally 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 and the largely non-cash impacts of impairments, and the impacts of certain regulatory, legislative, or GAAP standard-setting actions. Contribution margin adjusts revenues to remove the costs that are directly passed on to customers and collected through revenues, which are the wholesale cost of natural gas and gross receipts taxes. These internal non-GAAP operating metrics should not be considered as an alternative to, or more meaningful than, GAAP measures such as operating income, net income, or earnings per share.Condensed Consolidated Statements of Income – Unaudited






(In Millions, except per share amounts)
Three Months Ended
March 31,

Six Months Ended
March 31,


2026

2025

2026

2025
Operating Revenues
$1,020.0

$976.4

$1,718.7

$1,594.4
Operating Expenses:











Natural gas

395.3


422.7


669.1


668.0
Operation and maintenance

153.6


127.5


284.2


245.7
Depreciation and amortization

84.5


72.4


162.2


143.3
Taxes, other than income taxes

83.1


75.9


137.8


124.6
Total Operating Expenses

716.5


698.5


1,253.3


1,181.6
Operating Income

303.5


277.9


465.4


412.8
Interest Expense, Net

(62.6)


(45.3)


(120.6)


(91.5)
Other Income, Net

4.4


3.0


9.7


3.6
Goodwill Impairment

(3.9)


—


(3.9)


—
Gain on Sale of Subsidiary

28.9


—


28.9


—
Income From Continuing Operations Before Income Taxes

270.3


235.6


379.5


324.9
Income Tax Expense

52.7


46.3


74.1


63.5
Net Income From Continuing Operations

217.6


189.3


305.4


261.4
Net Income From Discontinued Operations, net of tax

64.6


20.0


71.8


29.2
Net Income

282.2


209.3


377.2


290.6
Provision for preferred dividends

1.5


3.7


5.2


7.4
Income allocated to participating securities

0.4


0.3


0.5


0.4
Preferred share redemption costs

8.0


—


8.0


—
Net Income Available to Common Shareholders
$272.3

$205.3

$363.5

$282.8













Weighted Average Number of Shares Outstanding:











Basic

59.0


58.3


59.0


58.0
Diluted

59.2


58.5


59.2


58.2













Basic Earnings Per Common Share - Continuing Operations
$3.52

$3.18

$4.95

$4.37
Diluted Earnings Per Common Share -Continuing Operations
$3.51

$3.17

$4.93

$4.36













Basic Earnings Per Common Share - Discontinued Operations
$1.09

$0.34

$1.21

$0.51
Diluted Earnings Per Common Share -Discontinued Operations
$1.09

$0.34

$1.21

$0.50













Basic Earnings Per Common Share
$4.61

$3.52

$6.16

$4.88
Diluted Earnings Per Common Share
$4.60

$3.51

$6.14

$4.86
Dividends Declared Per Common Share
$0.825

$0.785

$1.650

$1.570
 Condensed Consolidated Balance Sheets – Unaudited









(In Millions)
March 31,

September 30,

March 31,


2026

2025

2025
ASSETS








Utility Plant
$11,818.1

$9,330.4

$9,077.2
Less:  Accumulated depreciation and amortization

3,058.0


2,577.4


2,575.1
Net Utility Plant

8,760.1


6,753.0


6,502.1
Non-utility Property

557.1


568.1


573.8
Other Investments

127.3


126.6


116.6
Total Other Property and Investments

684.4


694.7


690.4
Current Assets:








Cash and cash equivalents

49.5


5.7


15.2
Accounts receivable, net

415.7


210.3


391.7
Inventories

182.1


248.4


165.0
Other

215.8


160.8


135.2
Assets held for sale

725.3


182.7


200.9
Total Current Assets

1,588.4


807.9


908.0










Deferred Charges and Other Assets

3,637.3


2,873.8


2,807.0
Assets held for sale

—


445.9


439.2
Total Assets
$14,670.2

$11,575.3

$11,346.7










CAPITALIZATION AND LIABILITIES








Capitalization:








Preferred stock
$-

$242.0

$242.0
Common stock and paid-in capital

2,043.3


2,040.4


2,036.4
Retained earnings

1,350.0


1,087.6


1,207.6
Accumulated other comprehensive income

24.5


19.4


22.7
Total Shareholders' Equity

3,417.8


3,389.4


3,508.7
Temporary equity

7.2


6.1


9.3
Long-term debt (less current portion)

5,762.0


3,369.4


3,348.5
Total Capitalization

9,187.0


6,764.9


6,866.5
Current Liabilities:








Current portion of long-term debt

238.1


487.5


392.5
Notes payable

1,955.0


1,317.0


1,015.0
Accounts payable

185.2


156.3


161.0
Accrued liabilities and other

397.1


463.5


364.6
Liabilities associated with assets held for sale

134.7


124.2


179.3
Total Current Liabilities

2,910.1


2,548.5


2,112.4
Deferred Credits and Other Liabilities:








Deferred income taxes

984.9


887.4


890.7
Pension and postretirement benefit costs

48.5


74.7


110.8
Asset retirement obligations

590.6


577.7


586.8
Regulatory liabilities

806.0


578.0


637.0
Other

143.1


136.7


134.6
Liabilities associated with assets held for sale

—


7.4


7.9
Total Deferred Credits and Other Liabilities

2,573.1


2,261.9


2,367.8
Total Capitalization and Liabilities
$14,670.2

$11,575.3

$11,346.7
 Condensed Consolidated Statements of Cash Flows – Unaudited



(In Millions)
Six Months Ended
March 31,


2026

2025
Operating Activities:





Net Income
$377.2

$290.6
Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation and amortization

169.1


146.0
Deferred income taxes and investment tax credits

96.6


71.8
Changes in assets and liabilities

(139.7)


(59.5)
Other

(11.8)


4.9
Net cash provided by operating activities

491.4


453.8







Investing Activities:





Capital expenditures

(395.0)


(479.2)
Business acquisitions, net of cash acquired

(2,500.8)


—
Other

29.5


1.9
Net cash used in investing activities

(2,866.3)


(477.3)







Financing Activities:





Issuance of long-term debt

2,497.1


—
Repayment of long-term debt

(357.5)


(7.0)
Redemption of preferred shares

(242.0)


—
Preferred share redemption cost

(8.0)


—
Issuance of delayed draw term loan

800.0


—
(Repayment) issuance  of short-term debt, net

(162.0)


68.0
Issuance of common stock

0.7


75.6
Dividends paid on common stock

(96.1)


(90.0)
Dividends paid on preferred stock

(7.4)


(7.4)
Other

(5.5)


(4.6)
Net cash provided by financing activities

2,419.3


34.6







Net Increase in Cash, Cash Equivalents, and Restricted Cash

44.4


11.1
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period

41.2


34.9
Cash, Cash Equivalents, and Restricted Cash at End of Period
$85.6

$46.0
 Adjusted Earnings and Reconciliation to GAAPContinuing Operations












(In Millions, except per share amounts)
Gas
Utility
Segment

Other

Total

Per
Diluted
Common
Share (2)
Three Months Ended March 31, 2026











Net Income (Loss) [GAAP]
$231.8

$(14.2)

$217.6

$3.51
   Adjustments, pre-tax:











Acquisition activities(1)

—


30.8


30.8


0.52
Goodwill Impairment

3.9


—


3.9


0.07
Divestiture activities

—


(28.9)


(28.9)


(0.49)
   Income tax effect of adjustments (2)

(0.9)


1.2


0.3


0.01
Preferred share redemption costs(3)










0.14
Adjusted Earnings (Loss) [Non-GAAP]
$234.8

$(11.1)

$223.7

$3.76













Three Months Ended March 31, 2025











Net Income (Loss) [GAAP] and Adjusted Earnings (Loss) [Non-GAAP]
$195.2

$(5.9)

$189.3

$3.17




























Gas
Utility
Segment

Other

Total

Per
Diluted
Common
Share (2)
Six Months ended March 31, 2026











Net Income (Loss) [GAAP]
$335.7

$(30.3)

$305.4

$4.93
   Adjustments, pre-tax:











Acquisition  activities(1)

—


38.8


38.8


0.66
Goodwill Impairment

3.9


—


3.9


0.07
Divestiture  activities

—


(28.9)


(28.9)


(0.49)
   Income tax effect of adjustments (2)

(0.9)


(0.8)


(1.7)


(0.03)
Preferred share redemption costs(3)










0.14
Adjusted Earnings (Loss) [Non-GAAP]
$338.7

$(21.2)

$317.5

$5.28













Six Months Ended March 31, 2025











Net Income (Loss) [GAAP] and Adjusted Earnings (Loss) [Non-GAAP]
$273.0

$(11.6)

$261.4

$4.36

(1) Includes transaction, transition and financing costs for the Piedmont Tennessee Transaction.
(2) Income tax adjustments include amounts calculated by applying federal, state, and local income tax rates applicable to ordinary income to the amounts of the pre-tax reconciling items. (3) Adjusted earnings per share is calculated by replacing consolidated net income with consolidated adjusted earnings in the GAAP diluted EPS calculation, which includes reductions for cumulative preferred dividends and participating shares and in quarter two of 2026, excludes the impact of the February 2026 cost of redemption of Spire's 5.9% Series A Preferred Stock, including related depositary shares. Contribution Margin and Reconciliation to GAAPContinuing Operations












(In Millions)
Gas
Utility
  Segment

Other

Elimi-
nations

Consoli-
dated
Three Months Ended March 31, 2026











Operating Income (Loss) [GAAP]
$325.1

$(21.6)

$—

$303.5
Operation and maintenance

122.0


36.2


(4.6)


153.6
Depreciation and amortization

81.6


2.9


—


84.5
Taxes, other than income taxes

82.3


0.8


—


83.1
Less: Gross receipts tax expense

(56.3)


—


—


(56.3)
Contribution Margin [Non-GAAP]

554.7


18.3


(4.6)


568.4
Natural gas costs

403.9


1.5


(10.1)


395.3
Gross receipts tax expense

56.3


—


—


56.3
Operating Revenues
$1,014.9

$19.8

$(14.7)

$1,020.0













Three Months Ended March 31, 2025











Operating Income [GAAP]
$272.0

$5.9

$—

$277.9
Operation and maintenance

122.8


9.2


(4.5)


127.5
Depreciation and amortization

69.5


2.9


—


72.4
Taxes, other than income taxes

75.1


0.8


—


75.9
Less: Gross receipts tax expense

(55.1)


—


—


(55.1)
Contribution Margin [Non-GAAP]

484.3


18.8


(4.5)


498.6
Natural gas costs

430.8


1.8


(9.9)


422.7
Gross receipts tax expense

55.1


—


—


55.1
Operating Revenues
$970.2

$20.6

$(14.4)

$976.4













Six Months Ended March 31, 2026











Operating Income (Loss) [GAAP]
$486.7

$(21.3)

$—

$465.4
Operation and maintenance expenses

241.7


51.7


(9.2)


284.2
Depreciation and amortization

156.4


5.8


—


162.2
Taxes, other than income taxes

136.3


1.5


—


137.8
Less: Gross receipts tax expense

(86.2)


—


—


(86.2)
Contribution Margin [Non-GAAP]

934.9


37.7


(9.2)


963.4
Natural gas costs

687.1


2.3


(20.3)


669.1
Gross receipts tax expense

86.2


—


—


86.2
Operating Revenues
$1,708.2

$40.0

$(29.5)

$1,718.7













Six Months Ended March 31, 2025











Operating Income [GAAP]
$399.8

$13.0

$—

$412.8
Operation and maintenance expenses

237.8


16.7


(8.8)


245.7
Depreciation and amortization

137.6


5.7


—


143.3
Taxes, other than income taxes

123.1


1.5


—


124.6
Less: Gross receipts tax expense

(81.8)


—


—


(81.8)
Contribution Margin [Non-GAAP]

816.5


36.9


(8.8)


844.6
Natural gas costs

685.4


2.5


(19.9)


668.0
Gross receipts tax expense

81.8


—


—


81.8
Operating Revenues
$1,583.7

$39.4

$(28.7)

$1,594.4
Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-reports-fy26-second-quarter-results-302763437.htmlSOURCE Spire Inc. Original: Spire reports FY26 second quarter results

Spire completes sale of gas marketing business to Boardwalk Pipelines for $215 millionApril 30, 2026 4:30 PM
PR Newswire (US)

Sale complete, effective April 30, 2026, for $215 million in cashEmployees and clients of Spire Marketing will transition to the new Boardwalk business unit, Boardwalk Continuum Marketing, LLCTransaction sharpens Spire's focus on regulated natural gas utility businessesProceeds used to partially fund the acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposesST. LOUIS, April 30, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today announced it has completed the sale of its gas marketing business, Spire Marketing Inc. (Spire Marketing), to Boardwalk Pipelines, LP (Boardwalk) effective April 30, 2026, for $215 million in cash.







Employees and clients of Spire Marketing will transition to the new Boardwalk business unit, Boardwalk Continuum Marketing, LLC. Proceeds from the sale were used to partially fund Spire's acquisition of the Piedmont Natural Gas Tennessee business and for general corporate purposes."The successful completion of this transaction represents an important step as Spire sharpens focus on core utility operations while improving our risk profile and enhancing long-term earnings visibility," said Scott Doyle, president and chief executive officer of Spire. "We are thankful for the contributions of everyone who has made Spire Marketing a success and wish them well as they transition to Boardwalk.""Our future will be defined not just by the assets we own, but by how effectively we connect supply to demand and deliver solutions our customers value," said Scott Hallam, president and chief executive officer of Boardwalk Pipelines. "Boardwalk Continuum Marketing strengthens our ability to offer differentiated, market-responsive services that help customers navigate an increasingly complex energy landscape."Pat Strange, who served as president of Spire Marketing, will continue to lead the organization as president of Boardwalk Continuum Marketing."We are looking forward to beginning this next chapter as Boardwalk Continuum Marketing," said Strange. "Boardwalk's vision recognizes the critical role of marketing and trading capabilities in today's energy market. Our customers can expect continuity of service, a seamless transition, and the added benefits of being part of a highly integrated natural gas platform."Boardwalk Continuum Marketing is a North American Natural Gas marketer that focuses on the purchase and delivery of natural gas to its customers, including producers, midstream operators, pipelines, storage operators, load-serving entities, large industrials and selected retail accounts. As part of Boardwalk's natural gas platform and coupled with its existing network of storage and transportation capacity, Boardwalk Continuum has the necessary scale, market presence, and commercial capabilities to support customers across the natural gas value chain. Stinson LLP served as legal counsel to Spire in the transaction.About SpireAt Spire (NYSE: SR), our vision is to deliver a stronger energy future as an industry-leading natural gas provider. We safely and reliably serve the natural gas needs of close to 2 million homes and businesses through gas utilities in Alabama, Mississippi, Missouri and Tennessee, making us one of the largest publicly traded natural gas companies in the country. We are committed to transforming our business through growing organically, investing in infrastructure and driving continuous improvement. Learn more at SpireEnergy.com.About Boardwalk Pipelines, LPBoardwalk Pipelines, LP ("Boardwalk") delivers reliable energy by connecting natural gas supply with the markets and communities that depend on it. Through an integrated network of interstate and intrastate pipelines and underground storage assets, Boardwalk supports energy reliability, market connectivity, and long-term value creation across the United States, including the Gulf Coast, Midwest, and Southeast. Boardwalk is committed to operating safely, reliably, and responsibly while evolving its capabilities to better serve customers in a dynamic and increasingly complex energy market. Learn more at bwpipelines.com.Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com 



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-completes-sale-of-gas-marketing-business-to-boardwalk-pipelines-for-215-million-302759399.htmlSOURCE Spire Inc.

Original: Spire completes sale of gas marketing business to Boardwalk Pipelines for $215 million

Boardwalk Completes Acquisition of Spire Marketing; Announces New Name, Boardwalk Continuum MarketingApril 30, 2026 4:30 PM
PR Newswire (US)

HOUSTON, April 30, 2026 /PRNewswire/ -- Boardwalk Pipelines, LP, today announced the completion of its acquisition of Spire Marketing Inc., a gas marketing business formerly owned by Spire Inc. (NYSE: SR). The business will operate under the name Boardwalk Continuum Marketing, LLC, reflecting its expanded role within Boardwalk's integrated natural gas platform.







The acquisition is expected to expand Boardwalk's overall footprint and broaden its reach into growing end-use markets, including LNG exports and gas-fired power generation. Combined with Boardwalk's pipeline and storage assets, this new platform is designed to create new opportunities for bundled supply, transportation and storage solutions to advance long-term growth.The Boardwalk Continuum name symbolizes the continuous flow that characterizes an integrated natural gas platform: supply, demand, transportation, storage and marketing. It also reflects the ongoing partnership between the team and customers that Spire Marketing has built over time, whose work continues within Boardwalk with expanded reach across the value chain."Our future will be defined not just by the assets we own, but by how effectively we deliver a broad array of solutions to customers across the value chain," said Scott Hallam, president and chief executive officer of Boardwalk Pipelines. "Boardwalk Continuum Marketing strengthens our ability to offer differentiated, market-responsive services that help customers navigate an increasingly complex energy landscape."Pat Strange, who served as president of Spire Marketing, will continue to lead the organization as president of Boardwalk Continuum Marketing."We are looking forward to beginning this next chapter as Boardwalk Continuum Marketing," said Strange. "Boardwalk's vision recognizes the critical role of marketing and trading capabilities in today's energy market. Our customers can expect continuity of service, a seamless transition, and the added benefits of being part of a highly integrated natural gas platform."Boardwalk Continuum Marketing is a North American Natural Gas marketer that focuses on the purchase and delivery of natural gas to its customers, including producers, midstream operators, pipelines, storage operators, load-serving entities, large industrials and selected retail accounts. As part of Boardwalk's natural gas platform and coupled with its existing network of storage and transportation capacity, Boardwalk Continuum has the necessary scale, market presence, and commercial capabilities to support customers across the natural gas value chain. Please visit www.bwcontinuum.com for more information.Barclays served as financial advisor, and Gable Gotwals served as legal counsel to Boardwalk in connection with the transaction.For media inquiries, please contact Boardwalk Public Relations: pr@bwpipelines.com.About Boardwalk Pipelines, LP
Boardwalk Pipelines, LP ("Boardwalk") delivers reliable energy by connecting natural gas supply with the markets and communities that depend on it. Through an integrated network of interstate and intrastate pipelines and underground storage assets, Boardwalk supports energy reliability, market connectivity, and long-term value creation across the United States, including the Gulf Coast, Midwest, and Southeast. Boardwalk is committed to operating safely, reliably, and responsibly while evolving its capabilities to better serve customers in a dynamic and increasingly complex energy market. Learn more at bwpipelines.com.About Spire Inc.
At Spire (NYSE: SR), our vision is to deliver a stronger energy future as an industry-leading natural gas provider. We safely and reliably serve the natural gas needs of close to two million homes and businesses through gas utilities in Alabama, Mississippi, Missouri and Tennessee, making us one of the largest publicly traded natural gas companies in the country. We are committed to transforming our business through growing organically, investing in infrastructure and driving continuous improvement. Learn more at SpireEnergy.com.Forward-looking Statements
This news release includes certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Forward-looking statements are inherently subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those anticipated or projected. For a discussion of risk factors and other important disclosures, see Boardwalk Pipeline Partners, LP's annual and quarterly reports and other documents filed from time to time with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation or undertaking to update these statements to reflect any change in our expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.



View original content to download multimedia:https://www.prnewswire.com/news-releases/boardwalk-completes-acquisition-of-spire-marketing-announces-new-name-boardwalk-continuum-marketing-302759458.htmlSOURCE Boardwalk Pipeline Partners, LP

Original: Boardwalk Completes Acquisition of Spire Marketing; Announces New Name, Boardwalk Continuum Marketing

Spire declares dividendApril 30, 2026 2:30 PM
PR Newswire (US)

ST. LOUIS, April 30, 2026 /PRNewswire/ -- The Spire Inc. (NYSE: SR) board of directors declared a quarterly common stock dividend of $0.825 per share, payable July 2, 2026, to shareholders of record on June 11, 2026.







Spire has continuously paid a cash dividend since 1946, with 2026 marking the company's 23rd consecutive year of increasing its common stock dividend on an annualized basis.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we have the honor of serving close to 2 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi, Missouri and Tennessee. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail@SpireEnergy.comMedia Contact:
Jason Merrill
314-342-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-declares-dividend-302759313.htmlSOURCE Spire Inc.

Original: Spire declares dividend

BERNHARD CAPITAL-BACKED DELTA UTILITIES TO EXPAND MISSISSIPPI FOOTPRINT THROUGH ACQUISITION OF SPIRE INC.'S NATURAL GAS BUSINESSApril 22, 2026 9:30 AM
PR Newswire (US)

BATON ROUGE, La., April 22, 2026 /PRNewswire/ -- Delta Utilities, a natural gas utility and Bernhard Capital Partners ("Bernhard") portfolio company, today announced that it has entered into an agreement with a subsidiary of Spire Inc. (NYSE: SR) to acquire its Mississippi local natural gas distribution company ("Spire Mississippi") that serves approximately 18,000 residential, commercial, and industrial customers across south central Mississippi.The close geographic fit is expected to generate meaningful operating efficiencies, enhance emergency response readiness, and expand system capabilities. Increased economies of scale will enable Delta Utilities to more effectively leverage shared equipment, technology, personnel, and regional response resources across its Mississippi footprint, supporting improved reliability and long-term value for customers and stakeholders."We see this as a disciplined, strategic approach to growing Delta Utilities—bringing together high-quality assets that are complementary to our existing footprint to strengthen operations and deliver long-term value," said Jeff Jenkins, Founder and Partner at Bernhard. "This investment reinforces Delta Utilities' role as a trusted operator serving essential energy needs across the region."More than 35 Spire Mississippi employees are expected to join the Delta Utilities team following the close of the transaction, supporting a seamless transition of service for legacy Spire customers. The transaction is expected to close near the end of 2026, pending required regulatory approvals. The agreement was completed through Delta Mississippi Gas Company, LLC ("Delta Mississippi"), an operating company of Magnolia Gas Holdings and an affiliate of Delta Utilities.See the Delta Utilities release here.About Bernhard Capital PartnersBernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. BCP has deployed capital in five funds across several strategies and has more than $6 billion of assets under management. BCP seeks to create sustainable value by leveraging its experience in acquiring, operating, and growing services and infrastructure businesses. For more information, visit bernhardcapital.com.About Delta UtilitiesDelta Utilities and its affiliated operating entities rank among the nation's top 40 natural gas providers, delivering safe and reliable service to approximately 600,000 customers across Louisiana and Mississippi. Headquartered in New Orleans, the company employs 875 team members who live and work throughout its service territory, supporting local communities and system operations. Through continued investment across its footprint, Delta Utilities advances its mission to provide clean, safe, and affordable natural gas while maintaining a strong focus on service quality and safety. For more information, visit deltautilities.com.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we have the honor of serving close to 2 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi, Missouri and Tennessee. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.Media Contacts:
Ed Trissel / Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449



View original content:https://www.prnewswire.com/news-releases/bernhard-capital-backed-delta-utilities-to-expand-mississippi-footprint-through-acquisition-of-spire-incs-natural-gas-business-302750334.htmlSOURCE Bernhard Capital Partners Management, LP

Original: BERNHARD CAPITAL-BACKED DELTA UTILITIES TO EXPAND MISSISSIPPI FOOTPRINT THROUGH ACQUISITION OF SPIRE INC.'S NATURAL GAS BUSINESS

Spire announces sale of its Mississippi natural gas business to Delta Utilities for $75 millionApril 22, 2026 7:00 AM
PR Newswire (US)

Sale refines geographic footprint, regulated natural gas distribution portfolio now focused on larger regulated gas utilitiesSpire Mississippi serves approximately 18,000 customers and includes roughly 745 miles of distribution pipelinesExpected to close first fiscal quarter of 2027ST. LOUIS, April 22, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today announced it has entered into an agreement to sell its Mississippi local distribution company ("Spire Mississippi") to Delta Utilities, a company backed by Bernhard Capital Partners, for $75 million in cash. The transaction represents a 1.4x multiple of 2025 rate base.







Proceeds will be used to fund planned infrastructure investments across Spire's regulated gas utilities in Alabama, Missouri and Tennessee, benefiting customers while supporting long-term shareholder value.Spire Mississippi's operations include approximately 745 miles of distribution pipelines serving approximately 18,000 customers in south-central Mississippi, including Hattiesburg. Spire employees who directly support the business are expected to transition to Delta Utilities to ensure continuity of service for customers and communities."This transaction sharpens our focus on our larger regulated gas utilities where we will continue to prioritize modernizing our infrastructure while supporting customer affordability," said Scott Doyle, president and chief executive officer of Spire. "We're confident Delta will be a strong operator for the benefit of both employees and customers. I am deeply grateful to the Spire Mississippi team for their dedication and contributions over the years.""This agreement reflects our long-term commitment to Mississippi and the customers and communities we serve," said Tim Poché, Chief Executive Officer of Delta Utilities. "By bringing these geographically aligned systems together, we can deploy capital more efficiently, strengthen service reliability and further position the company to meet customer needs today and over the long term." The agreement is subject to customary closing conditions, including regulatory approval by the Mississippi Public Service Commission. The transaction is expected to close in the first fiscal quarter of 2027.Stinson LLP acted as legal counsel to Spire.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we have the honor of serving close to 2 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi, Missouri and Tennessee. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.About Delta UtilitiesDelta Utilities and its affiliated operating entities rank among the nation's top 40 natural gas providers, delivering safe and reliable service to approximately 600,000 customers across Louisiana and Mississippi. Headquartered in New Orleans, the company employs 875 team members who live and work throughout its service territory, supporting local communities and system operations. Through continued investment across its footprint, Delta Utilities advances its mission to provide clean, safe, and affordable natural gas while maintaining a strong focus on service quality and safety. For more information, visit www.deltautilities.com.Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-announces-sale-of-its-mississippi-natural-gas-business-to-delta-utilities-for-75-million-302749447.htmlSOURCE Spire Inc.

Original: Spire announces sale of its Mississippi natural gas business to Delta Utilities for $75 million

Duke Energy completes sale of its Tennessee Piedmont Natural Gas business to SpireMarch 31, 2026 4:30 PM
PR Newswire (US)

Close of transaction previously announced in July 2025Proceeds to help fund industry's largest regulated capital plan CHARLOTTE, N.C., March 31, 2026 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced it has completed the sale of its Tennessee Piedmont Natural Gas business to Spire – one of the largest publicly traded natural gas companies in the country – for $2.48 billion. The agreement was previously announced on July 29, 2025.







Approximately $800 million of the proceeds will be used to pay down debt at Piedmont Natural Gas to maintain its capital structure. The remaining $1.5 billion proceeds, net of tax, will help efficiently fund the industry's largest regulated capital plan – $103 billion of investments over the next five years – to support a growing system and serve increasing load while keeping customer costs as low as possible."Today marks a significant milestone with the successful transition of our Tennessee natural gas business to Spire," said Harry Sideris, Duke Energy president and chief executive officer. "As we enter a period of record investment, this transaction helps efficiently fund our capital plan – a plan built on safely and reliably meeting our communities' growing energy needs while managing costs for our more than 10 million customers."Sideris added, "I want to thank our Tennessee natural gas teammates for their commitment to industry-leading customer service, safety and operational excellence, as well as the Nashville community for trusting us to serve its growing energy needs for more than 40 years. Spire will carry forward best-in-class service and continue delivering value for Tennessee employees, customers and communities." "We're pleased to welcome Piedmont customers and employees in Tennessee to Spire," said Scott Doyle, president and chief executive officer of Spire. "This acquisition allows us to expand our core utility business while continuing to do what we do best as a company – safely delivering reliable natural gas to the communities we serve."The sale agreement for the Piedmont Natural Gas Tennessee business included nearly 3,800 miles of distribution and transmission pipelines serving more than 200,000 customers. The primary operations will remain in the Greater Nashville area, and the Piedmont Natural Gas employees who primarily support the business have transitioned to Spire to maintain business continuity for its operations and customers.JP Morgan Securities LLC and RBC Capital Markets LLC served as Duke Energy's financial advisors. Skadden, Arps, Slate, Meagher & Flom LLP served as Duke Energy's transactional legal advisor. In addition, Duke Energy received legal support on certain matters from Holland & Knight. McGuireWoods acted as joint regulatory counsel for both Duke Energy and Spire.Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.Piedmont Natural Gas Piedmont Natural Gas, a subsidiary of Duke Energy, distributes natural gas to more than 1 million residential, commercial, industrial and power generation customers in North Carolina and South Carolina. More information: piedmontng.com. Follow Piedmont Natural Gas: Facebook.SpireSpire Inc. (NYSE: SR) believes energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of Spire's company. Every day Spire serves close to 2 million homes and businesses, making it one of the largest publicly traded natural gas companies in the country. Spire helps families and business owners fuel their daily lives through its gas utilities serving Alabama, Mississippi, Missouri and Tennessee. Its natural gas-related businesses include Spire Marketing and Spire Midstream. Spire is committed to transforming its business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.Forward-Looking InformationThis document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2025, and subsequent quarterly reports filed with the U.S. Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Media Contact: Gillian Moore
24-hour: 800.559.3853Analyst Contact: Mike Switzer
Office: 704.382.6473



View original content to download multimedia:https://www.prnewswire.com/news-releases/duke-energy-completes-sale-of-its-tennessee-piedmont-natural-gas-business-to-spire-302730500.htmlSOURCE Duke Energy

Original: Duke Energy completes sale of its Tennessee Piedmont Natural Gas business to Spire

Spire completes acquisition of Tennessee Piedmont Natural Gas business from Duke EnergyMarch 31, 2026 4:30 PM
PR Newswire (US)

Expands regulated utility footprint with Spire Tennessee becoming the largest investor-owned natural gas utility in TennesseeCommitted to providing a seamless transition for customers, community and employeesMore than 200 of Piedmont's Tennessee employees will transition to Spire, with additional support roles being addedAcquisition supports Spire's long-term adjusted earnings per share growth of 5-7%ST. LOUIS, March 31, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today announced it has completed its acquisition of the Piedmont Natural Gas business in Tennessee from Duke Energy effective March 31, 2026, for $2.48 billion.







The operations will do business as Spire Tennessee and be integrated into Spire's existing utility business serving customers across Missouri, Alabama and Mississippi, significantly expanding Spire's regulated utility footprint. Spire Tennessee is the largest investor-owned natural gas utility in Tennessee, operating in the Nashville metro area and surrounding communities, one of the fastest-growing regions in the U.S. Spire Tennessee serves more than 200,000 customers and includes nearly 3,800 miles of distribution and transmission pipelines."We're pleased to welcome Piedmont customers and employees in Tennessee to Spire," said Scott Doyle, president and chief executive officer of Spire. "This acquisition allows us to expand our core utility business while continuing to do what we do best as a company – safely delivering reliable natural gas to the communities we serve."As previously announced, Spire Tennessee will represent approximately 20% of Spire's capital investment plan through the five-year period ending 2030, including investments to support customer growth, while supporting long-term adjusted earnings per share growth of 5-7%. The addition of the Piedmont Natural Gas business in Tennessee provides robust growth driven by new customer additions and system integrity investments, while aligning with Spire's investment strategy. Tennessee's constructive regulatory environment encourages capital investment to support its growing service territory."Today marks a significant milestone with the successful transition of our Tennessee natural gas business to Spire," said Harry Sideris, Duke Energy president and chief executive officer. "As we enter a period of record investment, this transaction helps efficiently fund our capital plan – a plan built on safely and reliably meeting our communities' growing energy needs while managing costs for our more than 10 million customers."Sideris added, "I want to thank our Tennessee natural gas teammates for their commitment to industry-leading customer service, safety and operational excellence, as well as the Nashville community for trusting us to serve its growing energy needs for more than 40 years. Spire will carry forward best-in-class service and continue delivering value for Tennessee employees, customers and communities."Joe Hampton, president of Spire Alabama, Gulf and Mississippi, will take on the added responsibility of leading the utility as president of Spire Tennessee. "At Spire, we've had the privilege of delivering great service to customers for more than 160 years. Our teams are closely collaborating to deliver a seamless transition and ensure that customers have the same great experience with Spire that they've enjoyed with Piedmont," said Hampton.The more than 200 employees in the region who worked for Piedmont are now employees of Spire Tennessee and continue their roles providing natural gas service to Nashville and surrounding communities. In addition, Spire is actively recruiting positions for Tennessee operations to support the business.Like Piedmont, Spire has a long history of supporting civic and charitable activities in the areas they serve and plans to bring its Spire Serves program to Tennessee. "We take pride in being part of the communities where we live and work, and we look forward to building new relationships throughout the Nashville region," said Hampton.BMO Capital Markets Corp. acted as exclusive financial advisor to Spire. Additional advisory support was provided by Newlin Capital Advisors. Sidley Austin LLP acted as lead legal counsel to Spire, with additional legal counsel provided by Bradley Arant Boult Cummings LLP. McGuireWoods acted as joint regulatory counsel for both Spire and Duke Energy.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we have the honor of serving close to 2 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi, Missouri and Tennessee. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.About Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs. More information is available at?duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook?for stories about the people and innovations powering its communities.About Piedmont Natural Gas  Piedmont Natural Gas, a subsidiary of Duke Energy, distributes natural gas to more than 1 million residential, commercial, industrial and power generation customers in North Carolina and South Carolina. More information:?piedmontng.com. Follow Piedmont Natural Gas:?X,?Facebook. Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. More complete descriptions and listings of these uncertainties and risk factors can be found in the Company's annual (Form 10-K) and quarterly (Form 10-Q) filings with the Securities and Exchange Commission.This news release includes the non-GAAP financial measures of "adjusted earnings," "adjusted earnings per share," and "contribution margin." Management also uses these non-GAAP measures internally when evaluating the Company's performance and results of operations. Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities and the largely non-cash impacts of impairments and other non-recurring or unusual items such as certain regulatory, legislative, or GAAP standard-setting actions. The fair value and timing adjustments, which primarily impact the Gas Marketing segment, include net unrealized gains and losses on energy-related derivatives resulting from the current changes in the fair value of financial and physical transactions prior to their completion and settlement, lower of cost or market inventory adjustments, and realized gains and losses on economic hedges prior to the sale of the physical commodity. Management believes that excluding these items provides a useful representation of the economic impact of actual settled transactions and overall results of ongoing operations. Contribution margin adjusts revenues to remove the costs that are directly passed on to customers and collected through revenues, which are the wholesale cost of natural gas and gross receipts taxes. These internal non-GAAP operating metrics should not be considered as an alternative to, or more meaningful than, GAAP measures such as operating income, net income, or earnings per share.Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-completes-acquisition-of-tennessee-piedmont-natural-gas-business-from-duke-energy-302730161.htmlSOURCE Spire Inc.

Original: Spire completes acquisition of Tennessee Piedmont Natural Gas business from Duke Energy

Spire announces sale of gas marketing business to Boardwalk Pipelines for $215 millionMarch 30, 2026 7:00 AM
PR Newswire (US)

Sharpens Spire's focus on regulated natural gas utility businessesImproves risk profile and long-term growth strategyReaffirms long-term adjusted earnings per share (EPS) growth of 5-7% using original fiscal 2027 adjusted EPS midpoint as a baseProceeds expected to be used to partially fund the acquisition of the Piedmont Natural Gas Tennessee business and general corporate purposesST. LOUIS, March 30, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today announced it has entered into an agreement to sell its gas marketing business, Spire Marketing Inc. (Spire Marketing) to Boardwalk Pipelines, LP (Boardwalk) for $215 million in cash. The transaction is expected to close in the third fiscal quarter of 2026 and is subject to regulatory approvals and completion of other customary closing conditions. Proceeds from the transaction are expected to be used to partially fund the acquisition of the Piedmont Natural Gas Tennessee business and general corporate purposes. Spire continues to evaluate the sale of its natural gas storage facilities to fund the acquisition and expects to provide an update no later than its second quarter fiscal 2026 earnings conference call in May.







"As we continue to sharpen our focus on our core regulated utility operations, we have entered into an agreement to sell our gas marketing business," said Scott Doyle, president and chief executive officer of Spire. "The sale simplifies our business mix, improves our risk profile and enhances long-term earnings visibility. Spire Marketing has been an important contributor to Spire over the years, and we are grateful to the employees for their dedication and contributions. We wish them continued success as they transition to new ownership.""This is a step forward for Boardwalk as we continue to expand our participation across the natural gas value chain," said Scott Hallam, president and chief executive officer of Boardwalk Pipelines. "By bringing on an experienced team with deep market expertise and established commercial capabilities, we seek to strengthen our asset optimization and more effectively serve our customers' increasingly complex energy needs. We were impressed by the strength and depth of Spire Marketing's management team, and we look forward to partnering with them as we build upon this platform.""We are excited to join Boardwalk which has such a positive industry presence and reputation to go along with a vision that recognizes the value and need for marketing and trading capabilities. We expect a seamless transition for our employees and clients as we join Boardwalk and continue to move our business forward," said Pat Strange, president of Spire Marketing.Spire Marketing markets natural gas and related services across the United States, with a primary focus on the procurement and physical delivery of natural gas to a diverse customer base in the central and southern U.S. The business serves commercial and industrial customers through its retail operations and producers, pipelines, power generators, municipalities, storage operators and utilities through its wholesale operations.The agreement is subject to customary closing conditions and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.Stinson LLP acted as legal counsel to Spire.Guidance Update and Growth OutlookSpire is not updating its fiscal 2026 guidance at this time and expects to provide revised 2026 guidance on the second quarter fiscal 2026 earnings call in May. The fiscal 2026 adjusted EPS guidance of $5.25–$5.45 affirmed in February reflects a full year of earnings from Spire Marketing and Spire's gas storage facilities and excludes the results of the pending acquisition of the Piedmont Natural Gas Tennessee business.Spire now expects fiscal 2027 adjusted EPS guidance to be in the range of $5.40–$5.60, compared to prior guidance of $5.65-$5.85. The updated guidance reflects the expected sale of Spire Marketing, with no other changes to the underlying assumptions affirmed in February. Both the prior and updated ranges continue to reflect the expected sale of Spire's gas storage facilities and assume a full year of earnings contributions from the Piedmont Natural Gas Tennessee business.The sales of the gas marketing business and gas storage facilities are subject to regulatory approvals. The acquisition is expected to close in the first calendar quarter of 2026, and the Spire Marketing sale is expected to close in the third fiscal quarter of 2026 following regulatory review.Spire reaffirmed its long-term adjusted earnings per share growth of 5-7% using the original fiscal 2027 adjusted EPS guidance midpoint of $5.75 as a base.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.About Boardwalk Pipelines, LPBoardwalk Pipelines, LP ("Boardwalk") delivers reliable energy by connecting natural gas supply with the markets and communities that depend on it. Through an integrated network of interstate and intrastate pipelines and underground storage assets, Boardwalk supports energy reliability, market connectivity, and long-term- value creation across the United States, including the Gulf Coast, Midwest, and Southeast. Boardwalk is committed to operating safely, reliably, and responsibly while evolving its capabilities to better serve customers in a dynamic and increasingly complex energy market. Learn more at bwpipelines.com.Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. More complete descriptions and listings of these uncertainties and risk factors can be found in the Company's annual (Form 10-K) and quarterly (Form 10-Q) filings with the Securities and Exchange Commission.This news release includes the non-GAAP financial measures of "adjusted earnings," "adjusted earnings per share," and "contribution margin." Management also uses these non-GAAP measures internally when evaluating the Company's performance and results of operations. Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities and the largely non-cash impacts of impairments and other non-recurring or unusual items such as certain regulatory, legislative, or GAAP standard-setting actions. The fair value and timing adjustments, which primarily impact the Gas Marketing segment, include net unrealized gains and losses on energy-related derivatives resulting from the current changes in the fair value of financial and physical transactions prior to their completion and settlement, lower of cost or market inventory adjustments, and realized gains and losses on economic hedges prior to the sale of the physical commodity. Management believes that excluding these items provides a useful representation of the economic impact of actual settled transactions and overall results of ongoing operations. Contribution margin adjusts revenues to remove the costs that are directly passed on to customers and collected through revenues, which are the wholesale cost of natural gas and gross receipts taxes. These internal non-GAAP operating metrics should not be considered as an alternative to, or more meaningful than, GAAP measures such as operating income, net income, or earnings per share.Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-announces-sale-of-gas-marketing-business-to-boardwalk-pipelines-for-215-million-302728045.htmlSOURCE Spire Inc.

Original: Spire announces sale of gas marketing business to Boardwalk Pipelines for $215 million

Boardwalk Pipelines Enters Agreement to Acquire Spire MarketingMarch 30, 2026 7:00 AM
PR Newswire (US)

HOUSTON, March 30, 2026 /PRNewswire/ -- Boardwalk Pipelines, LP, today announced it has entered into an agreement to acquire Spire Marketing Inc., a gas marketing business unit, from Spire Inc. (NYSE: SR). This acquisition would expand Boardwalk's presence across the natural gas value chain, enhancing its long-term growth and operating strategy.







The addition of Spire Marketing would broaden Boardwalk's marketing capabilities and customer reach, increasing flexibility, connectivity, and optionality for customers seeking a variety of energy solutions. This acquisition reflects Boardwalk's continued focus on long-term value creation through disciplined growth initiatives designed to optimize natural gas flows. In doing so, Boardwalk aims to strengthen customer relationships and support America's growing and evolving energy market."This is a step forward for Boardwalk as we continue to expand our participation across the natural gas value chain," said Scott Hallam, president and chief executive officer of Boardwalk Pipelines. "By bringing on an experienced team with deep market expertise and established commercial capabilities, we seek to strengthen our asset optimization and more effectively serve our customers' increasingly complex energy needs. We were impressed by the strength and depth of Spire Marketing's management team, and we look forward to partnering with them as we build upon this platform.""As we continue to sharpen our focus on our core regulated utility operations at Spire, we have entered into an agreement to sell our gas marketing business," said Scott Doyle, president and chief executive officer of Spire. "The sale simplifies our business mix, improves our risk profile and enhances long-term earnings visibility. Spire Marketing has been an important contributor to Spire over the years, and we are grateful to the employees for their dedication and contributions. We wish them continued success as they transition to new ownership." "We are excited to join Boardwalk, which has such a positive industry presence and reputation to go along with a vision that recognizes the value and need for marketing and trading capabilities. We expect a seamless transition for our employees and clients as we join Boardwalk and continue to move our business forward," said Pat Strange, president of Spire Marketing.The transaction is expected to close in the second calendar quarter of 2026, subject to regulatory approvals and completion of other customary closing conditions. Barclays served as financial advisor, and GableGotwals served as legal counsel to Boardwalk in connection with the transaction.For media inquiries, please contact Boardwalk Public Relations: pr@bwpipelines.com.About Boardwalk Pipelines, LPBoardwalk Pipelines, LP ("Boardwalk") delivers reliable energy by connecting natural gas supply with the markets and communities that depend on it. Through an integrated network of interstate and intrastate pipelines and underground storage assets, Boardwalk supports energy reliability, market connectivity, and long-term value creation across the United States, including the Gulf Coast, Midwest, and Southeast. Boardwalk is committed to operating- safely, reliably, and responsibly while evolving its capabilities to better serve customers in a dynamic and increasingly complex energy market. Learn more at bwpipelines.com.About Spire Inc. At Spire Inc. (NYSE: SR), we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day, we serve 1.7 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.Forward-looking StatementsThis news release includes certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Forward-looking statements are inherently subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those anticipated or projected. For a discussion of risk factors and other important disclosures, see Boardwalk Pipeline Partners, LP's annual and quarterly reports and other documents filed from time to time with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation or undertaking to update these statements to reflect any change in our expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.



View original content to download multimedia:https://www.prnewswire.com/news-releases/boardwalk-pipelines-enters-agreement-to-acquire-spire-marketing-302728205.htmlSOURCE Boardwalk Pipeline Partners, LP

Original: Boardwalk Pipelines Enters Agreement to Acquire Spire Marketing

Spire shares tick up even as Q1 results come in mixedFebruary 3, 2026 10:28 AM
IH Market News
Spire Inc. (NYSE:SR) reported fiscal first-quarter results on Tuesday that fell short of revenue expectations, while adjusted earnings also came in below forecasts, yet the market response was modestly positive.Shares of the natural gas utility rose 1.20% following the update.For the quarter ended December 31, Spire delivered adjusted earnings of $1.77 per share, compared with the analyst consensus of $1.64. Revenue totaled $762.2 million, missing expectations of $772.58 million. Year on year, adjusted earnings increased by $0.43 per share from $1.34, while revenue climbed 13.9% from $669.1 million.Performance was led by the Gas Utility segment, where adjusted earnings rose to $103.9 million from $77.8 million a year earlier, supported by the implementation of new rates across all utility operations. Gas Marketing results also improved sharply, with earnings more than doubling to $4.5 million from $2.2 million, reflecting stronger portfolio optimization.“Our strong first quarter results underscore the effectiveness of our regulatory strategy and the dedication our team delivers every day,” said Scott Doyle, president and chief executive officer of Spire.The company reiterated its fiscal 2026 adjusted earnings guidance of $5.25 to $5.45 per share, which remains above the analyst consensus of $5.18. Spire also maintained its fiscal 2027 adjusted earnings outlook of $5.65 to $5.85 per share, exceeding the market estimate of $5.57.Management noted that the guidance does not include contributions from the pending acquisition of the Piedmont Natural Gas Tennessee business, which is expected to close following customary regulatory approvals. Spire also reaffirmed its 10-year capital investment plan of $11.2 billion through fiscal 2035, underpinning its long-term adjusted earnings per share growth target of 5% to 7%.Spire Inc stock price

Original: Spire shares tick up even as Q1 results come in mixed

Spire reports FY26 first quarter resultsFebruary 3, 2026 7:00 AM
PR Newswire (US)

ST. LOUIS, Feb. 3, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today reported results for its fiscal 2026 first quarter ended December 31. Highlights include:







First quarter net income of $95.0 million ($1.54 per diluted share) compared to $81.3 million ($1.34 per share) a year agoFirst quarter adjusted earnings* of $108.4 million ($1.77 per share) compared to $81.1 million ($1.34 per share) a year ago, an increase of $0.43Affirmed fiscal 2026 adjusted earnings guidance range of $5.25–$5.45Affirmed fiscal 2027 adjusted earnings guidance range of $5.65–$5.85For fiscal 2026 first quarter, Gas Utility earnings increased reflecting higher earnings at Spire Missouri and Spire Alabama. The segment benefited from new rates across all of the utilities, offset, in part, by lower volumetric margin in Missouri and Alabama and higher depreciation expense. Midstream earnings reflected growth as a result of additional capacity for Spire Storage. Gas Marketing earnings were higher than the prior year due to incremental portfolio optimization."Our strong first quarter results underscore the effectiveness of our regulatory strategy and the dedication our team delivers every day," said Scott Doyle, president and chief executive officer of Spire. "By continuing to modernize our systems, strengthen regulatory engagement and maintain disciplined cost management, we are creating meaningful value for our customers and shareholders. We are confident in our ability to continue delivering sustainable growth while safely and reliably providing affordable service to the customers and communities we serve."First Quarter Results
Three Months Ended December 31,


(Millions)

(Per Diluted Common Share)


2025

2024

2025

2024
Adjusted Earnings* (Loss) by Segment











Gas Utility
$103.9

$77.8






Gas Marketing

4.5


2.2






Midstream

12.7


12.0






Other

(12.7)


(10.9)






Total
$108.4

$81.1

$1.77

$1.34
Fair value and timing adjustments, pre-tax

(9.2)


0.3


(0.16)


0.01
Acquisition activities, pre-tax

(8.5)


—


(0.14)


—
Income tax effect of adjustments

4.3


(0.1)


0.07


(0.01)
Net Income
$95.0

$81.3

$1.54

$1.34
Weighted Average Diluted Shares Outstanding

59.2


57.9







*Non-GAAP, see "Adjusted Earnings and Reconciliation to GAAP."Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as impairments and certain regulatory, legislative, or GAAP standard-setting actions.Gas UtilityGas Utility fiscal 2026 first quarter adjusted earnings were $103.9 million, an increase from $77.8 million in the prior year, driven by higher earnings at Spire Missouri and Spire Alabama.Contribution margin was higher by $48.0 million primarily due to new Spire Missouri rates and Infrastructure System Replacement Surcharge (ISRS) revenues in addition to higher margins at Spire Alabama under the Rate Stabilization and Equalization (RSE). These favorable items were partially offset by lower Spire Missouri and Spire Alabama volumetric margin.After adjusting for the impact of a pension reclass and bad debt expense, operation and maintenance expense was $1.4 million higher than a year ago, reflecting an increase in operating costs, offset, in part, by lower employee-related costs.Depreciation expense increased $6.7 million from last year, reflecting increased capital investment and an updated amortization schedule as part of Spire Missouri's new rates. Interest expense increased $1.7 million as a result of higher long-term debt balances, offset, in part, by lower short-term rates.Gas MarketingGas Marketing fiscal 2026 first quarter adjusted earnings were $4.5 million compared to $2.2 million in the prior year. The higher earnings reflect increased optimization of their portfolio year over year.MidstreamMidstream fiscal 2026 first quarter adjusted earnings were $12.7 million, up from $12.0 million in the year-ago period. The improvement was driven by higher Spire Storage revenue reflecting additional capacity, partially offset by higher depreciation and interest expense.OtherSpire's other activities reported an adjusted loss of $12.7 million versus an adjusted loss of $10.9 million in the prior year. The variance in earnings is primarily due to higher corporate costs and interest expense.Financing UpdateDuring the first fiscal quarter, Spire advanced its financing strategy to support both the Tennessee acquisition and its ongoing capital plan. Acquisition-related financing included the completion of $900 million of Junior Subordinated Notes at Spire Inc. and $825 million of Spire Tennessee Senior Notes issued under a Master Note Purchase Agreement expected to fund at the closing of the acquisition.In October 2025, Spire Missouri issued $200 million of First Mortgage Bonds, with proceeds used for general corporate purposes.In January 2026, Spire Inc. issued $200 million of Junior Subordinated Notes and expects to use the proceeds to redeem $250 million of 5.9% Spire Inc. preferred stock.Guidance and OutlookSpire continues to expect fiscal 2026 adjusted earnings to be in the range of $5.25–$5.45 per share, which excludes the results of the pending acquisition of the Piedmont Natural Gas Tennessee business. Spire also expects fiscal 2027 adjusted EPS to be in the range of $5.65–$5.85, which reflects a full year of earnings contributions from the Piedmont Natural Gas Tennessee business and excludes earnings from Spire's natural gas storage facilities due to the expected sale of the assets. Both the acquisition and sale are subject to regulatory approvals. The acquisition is expected to close following standard regulatory review, while any sale of the storage assets also requires final authorization by Spire's Board of Directors.Our 10-year $11.2 billion capital investment target through fiscal 2035 is driven by investment in infrastructure and new business in the Gas Utility segment. This plan supports Spire's long-term adjusted earnings per share growth of 5-7% using the fiscal 2027 adjusted EPS guidance midpoint of $5.75 as a base. Expected total capital expenditures for fiscal 2026 remains $809 million. Conference Call and WebcastSpire will host a conference call and webcast today to discuss its fiscal 2026 first quarter financial results. To access the call, please dial the applicable number approximately 5–10 minutes in advance.Date and Time:


Tuesday, February 3






10 a.m. CT (11 a.m. ET)










Phone Numbers:


U.S. and Canada:

844-824-3832



International:

412-317-5142The webcast can be accessed at Investors.SpireEnergy.com under Events & Presentations. A replay of the call will be available until February 10, 2026, by dialing 855-669-9658 (U.S. and Canada), or 412-317-0088 (international). The replay access code is 4653742.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.Forward-Looking Information and Non-GAAP MeasuresThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. More complete descriptions and listings of these uncertainties and risk factors can be found in the Company's annual (Form 10-K) and quarterly (Form 10-Q) filings with the Securities and Exchange Commission.This news release includes the non-GAAP financial measures of "adjusted earnings," "adjusted earnings per share," and "contribution margin." Management also uses these non-GAAP measures internally when evaluating the Company's performance and results of operations. Adjusted earnings exclude from net income, as applicable, the impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities and the largely non-cash impacts of impairments and other non-recurring or unusual items such as certain regulatory, legislative, or GAAP standard-setting actions. The fair value and timing adjustments, which primarily impact the Gas Marketing segment, include net unrealized gains and losses on energy-related derivatives resulting from the current changes in the fair value of financial and physical transactions prior to their completion and settlement, lower of cost or market inventory adjustments, and realized gains and losses on economic hedges prior to the sale of the physical commodity. Management believes that excluding these items provides a useful representation of the economic impact of actual settled transactions and overall results of ongoing operations. Contribution margin adjusts revenues to remove the costs that are directly passed on to customers and collected through revenues, which are the wholesale cost of natural gas and gross receipts taxes. These internal non-GAAP operating metrics should not be considered as an alternative to, or more meaningful than, GAAP measures such as operating income, net income, or earnings per share.Condensed Consolidated Statements of Income – Unaudited



(In Millions, except per share amounts)
Three Months Ended
December 31,


2025

2024
Operating Revenues
$762.2

$669.1
Operating Expenses:





Natural gas

312.7


270.0
Operation and maintenance

139.9


129.3
Depreciation and amortization

81.4


72.3
Taxes, other than income taxes

54.7


48.7
Total Operating Expenses

588.7


520.3
Operating Income

173.5


148.8
Interest Expense, Net

60.4


48.0
Other Income, Net

5.3


0.6
Income Before Income Taxes

118.4


101.4
Income Tax Expense

23.4


20.1
Net Income

95.0


81.3
Provision for preferred dividends

3.7


3.7
Income allocated to participating securities

0.1


0.1
Net Income Available to Common Shareholders
$91.2

$77.5







Weighted Average Number of Shares Outstanding:





Basic

59.0


57.7
Diluted

59.2


57.9







Basic Earnings Per Common Share
$1.55

$1.34
Diluted Earnings Per Common Share
$1.54

$1.34
Dividends Declared Per Common Share
$0.825

$0.785
 Condensed Consolidated Balance Sheets – Unaudited
(In Millions)
December 31,

September 30,

December 31,


2025

2025

2024
ASSETS








Utility Plant
$9,490.1

$9,333.9

$8,946.3
Less:  Accumulated depreciation and amortization

2,628.2


2,577.4


2,570.3
Net Utility Plant

6,861.9


6,756.5


6,376.0
Non-utility Property

1,003.4


1,007.2


982.5
Other Investments

125.4


128.0


118.5
Total Other Property and Investments

1,128.8


1,135.2


1,101.0
Current Assets:








Cash and cash equivalents

4.1


5.7


11.5
Accounts receivable, net

596.3


315.8


517.2
Inventories

259.5


282.5


242.6
Other

178.6


203.7


216.7
Total Current Assets

1,038.5


807.7


988.0
Deferred Charges and Other Assets

2,852.7


2,875.9


2,810.8
Total Assets
$11,881.9

$11,575.3

$11,275.8










CAPITALIZATION AND LIABILITIES








Capitalization:








Preferred stock
$242.0

$242.0

$242.0
Common stock and paid-in capital

2,040.9


2,040.4


1,992.0
Retained earnings

1,127.7


1,087.6


1,050.5
Accumulated other comprehensive income

22.1


19.4


24.4
Total Shareholders' Equity

3,432.7


3,389.4


3,308.9
Temporary equity

5.9


6.1


8.4
Long-term debt (less current portion)

4,449.4


3,369.4


3,697.7
Total Capitalization

7,888.0


6,764.9


7,015.0
Current Liabilities:








Current portion of long-term debt

488.1


487.5


42.5
Notes payable

412.0


1,317.0


1,158.0
Accounts payable

309.5


248.3


292.3
Accrued liabilities and other

503.7


495.8


498.4
Total Current Liabilities

1,713.3


2,548.6


1,991.2
Deferred Credits and Other Liabilities:








Deferred income taxes

914.1


887.4


838.3
Pension and postretirement benefit costs

47.7


74.7


126.6
Asset retirement obligations

589.5


583.2


586.0
Regulatory liabilities

587.6


578.0


577.2
Other

141.7


138.5


141.5
Total Deferred Credits and Other Liabilities

2,280.6


2,261.8


2,269.6
Total Capitalization and Liabilities
$11,881.9

$11,575.3

$11,275.8
 Condensed Consolidated Statements of Cash Flows – Unaudited
(In Millions)
Three Months Ended
 December 31,


2025

2024
Operating Activities:





Net Income
$95.0

$81.3
Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation and amortization

81.4


72.3
Deferred income taxes and investment tax credits

21.9


19.4
Changes in assets and liabilities

(120.3)


(94.0)
Other

3.0


2.1
Net cash provided by operating activities

81.0


81.1







Investing Activities:





Capital expenditures

(202.8)


(260.6)
Other

1.5


0.5
Net cash used in investing activities

(201.3)


(260.1)







Financing Activities:





Issuance of long-term debt

1,100.0


—
Repayment of long-term debt

(7.5)


(7.0)
(Repayment) issuance  of short-term debt

(905.0)


211.0
Issuance of common stock

0.3


32.8
Dividends paid on common stock

(47.2)


(44.6)
Dividends paid on preferred stock

(3.7)


(3.7)
Other

(17.9)


(2.5)
Net cash provided by financing activities

119.0


186.0







Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash

(1.3)


7.0
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period

41.2


34.9
Cash, Cash Equivalents, and Restricted Cash at End of Period
$39.9

$41.9
 Adjusted Earnings and Reconciliation to GAAP
(In Millions, except per share amounts)
Gas
Utility

Gas
Marketing

Midstream

Other

Total

Per
Diluted
Common
Share (2)
Three Months Ended December 31, 2025

















Net Income (Loss) [GAAP]
$103.9

$(2.4)

$12.7

$(19.2)

$95.0

$1.54
   Adjustments, pre-tax:

















 Fair value and timing adjustments

—


9.2


—


—


9.2


0.16
Acquisition activities

—


—


—


8.5


8.5


0.14
   Income tax effect of adjustments (1)

—


(2.3)


—


(2.0)


(4.3)


(0.07)
Adjusted Earnings (Loss) [Non-GAAP]
$103.9

$4.5

$12.7

$(12.7)

$108.4

$1.77



















Three Months Ended December 31, 2024

















Net Income (Loss) [GAAP]
$77.8

$2.4

$12.0

$(10.9)

$81.3

$1.34
   Adjustments, pre-tax:

















 Fair value and timing adjustments

—


(0.3)


—


—


(0.3)


(0.01)
   Income tax effect of adjustments (1)

—


0.1


—


—


0.1


0.01
Adjusted Earnings (Loss) [Non-GAAP]
$77.8

$2.2

$12.0

$(10.9)

$81.1

$1.34

(1) Income tax adjustments include amounts calculated by applying federal, state, and local income tax rates applicable to ordinary income to the amounts of the pre-tax reconciling items.
(2) Adjusted earnings per share is calculated by replacing consolidated net income with consolidated adjusted earnings in the GAAP diluted EPS calculation, which includes reductions for cumulative preferred dividends and participating shares. Contribution Margin and Reconciliation to GAAP
(In Millions)
Gas
Utility

Gas
Marketing

Midstream

Other

Elimi-
nations

Consoli-
dated
Three Months Ended December 31, 2025

















Operating Income (Loss) [GAAP]
$161.6

$(3.9)

$21.4

$(5.6)

$—

$173.5
Operation and maintenance

119.7


4.0


9.8


11.0


(4.6)


139.9
Depreciation and amortization

74.8


0.1


6.3


0.2


—


81.4
Taxes, other than income taxes

54.0


—


0.7


—


—


54.7
Less: Gross receipts tax expense

(29.9)


—


—


—


—


(29.9)
Contribution Margin [Non-GAAP]

380.2


0.2


38.2


5.6


(4.6)


419.6
Natural gas costs

283.2


40.9


0.8


—


(12.2)


312.7
Gross receipts tax expense

29.9


—


—


—


—


29.9
Operating Revenues
$693.3

$41.1

$39.0

$5.6

$(16.8)

$762.2



















Three Months Ended December 31, 2024

















Operating Income [GAAP]
$127.8

$2.7

$17.3

$1.0

$—

$148.8
Operation and maintenance

115.0


4.0


11.0


3.6


(4.3)


129.3
Depreciation and amortization

68.1


0.4


3.7


0.1


—


72.3
Taxes, other than income taxes

48.0


(0.1)


0.8


—


—


48.7
Less: Gross receipts tax expense

(26.7)


(0.1)


—


—


—


(26.8)
Contribution Margin [Non-GAAP]

332.2


6.9


32.8


4.7


(4.3)


372.3
Natural gas costs

254.6


26.0


0.7


—


(11.3)


270.0
Gross receipts tax expense

26.7


0.1


—


—


—


26.8
Operating Revenues
$613.5

$33.0

$33.5

$4.7

$(15.6)

$669.1
 Investor Contact:
Megan L. McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-reports-fy26-first-quarter-results-302676942.htmlSOURCE Spire Inc.

Original: Spire reports FY26 first quarter results

Spire Inc. Amends Redemption of 5.90% Series A Cumulative Redeemable Perpetual Preferred StockFebruary 2, 2026 11:30 AM
PR Newswire (US)

ST. LOUIS, Feb. 2, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) (the "Company") previously announced that it has delivered notice to holders of the Company's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock (NYSE: SR.PRA – CUSIP No.: 84857L309) (the "Series A Preferred Stock") of the Company's intent to redeem all 10,000 of its outstanding Series A Preferred Stock, par value $25.00 per share, liquidation preference $25,000 per share, and the corresponding depositary shares of the Company ("Depositary Shares"), each representing 1/1000th fractional interest in one share of Series A Preferred Stock.







As previously disclosed, the redemption date is February 13, 2026 (the "Redemption Date"). The redemption price is equal to $25.00 per Depositary Share (the "Base Redemption Amount"), plus all accrued and unpaid dividends up to, but not including, the Redemption Date (the "Accrued Dividends", and together with the Base Redemption Amount, the "Redemption Price").The Company previously declared a regular quarterly dividend on the Series A Preferred Stock in an amount equal to $0.36875 per Depositary Share (the "Declared Dividend"), payable on February 17, 2026, for holders of the Series A Preferred Stock as of the previously announced record date, January 26, 2026 (the "Record Date"). Only holders of shares of Series A Preferred Stock as of the Record Date will be entitled to receive the Declared Dividend on February 17, 2026 with respect to such shares.Payment of the Redemption Price will be made in two parts. First, the Depositary Shares will be redeemed on the Redemption Date at a redemption price equal to the Base Redemption Amount (equivalent to $25,000 per share of the Series A Preferred Stock), payable only to the holders of the Series A Preferred Stock as of the Redemption Date. Second, on February 17, 2026, holders of record of the Series A Preferred Stock as of the Record Date will receive the Declared Dividend, which represents the entirety of the Accrued Dividends.There are no additional Accrued Dividends payable with respect to the Series A Preferred Stock. Following payment of the Redemption Price, the Company will have no further obligations with respect to dividends or other amounts on the redeemed shares.Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to Computershare Trust Company, N.A. for the redemption of the Series A Preferred Stock. The address for the redemption agent is as follows:Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St., Suite 101
Canton, MA 02021Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the redemption price for the Depositary Shares in which they have a beneficial interest.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.FORWARD-LOOKING AND CAUTIONARY STATEMENTSThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. For a more complete description of these uncertainties and risk factors, see the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, each as filed with the Securities and Exchange Commission.Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail @Bree-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-inc-amends-redemption-of-5-90-series-a-cumulative-redeemable-perpetual-preferred-stock-302676503.htmlSOURCE Spire Inc.

Original: Spire Inc. Amends Redemption of 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock

Spire declares dividendJanuary 29, 2026 4:45 PM
PR Newswire (US)

ST. LOUIS, Jan. 29, 2026 /PRNewswire/ -- The Spire Inc. (NYSE: SR) board of directors declared a quarterly common stock dividend of $0.825 per share, payable April 2, 2026, to shareholders of record on March 11, 2026.







Spire has continuously paid a cash dividend since 1946, with 2026 marking the company's 23rd consecutive year of increasing its common stock dividend on an annualized basis.Spire announced today that it has delivered notice to holders of the Company's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock of its intent to redeem all outstanding shares on February 13, 2026.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail@SpireEnergy.comMedia Contact:
Jason Merrill
314-342-3300
Jason.Merrill@SpireEnergy.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-declares-dividend-302674516.htmlSOURCE Spire Inc.

Original: Spire declares dividend

Spire Inc. Announces Redemption of 5.90% Series A Cumulative Redeemable Perpetual Preferred StockJanuary 29, 2026 4:40 PM
PR Newswire (US)

ST. LOUIS, Jan. 29, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) (the "Company") announced today that it has delivered notice to holders of the Company's 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock (NYSE: SR.PRA – CUSIP No.: 84857L309) (the "Series A Preferred Stock") of the Company's intent to redeem all 10,000 of its outstanding Series A Preferred Stock, par value $25.00 per share, liquidation preference $25,000 per share and the corresponding depositary shares of the Company ("Depositary Shares"), each representing 1/1000th fractional interest in one share of Series A Preferred Stock. 







The anticipated redemption date is February 13, 2026 (the "Redemption Date"). The Depositary Shares will be redeemed at a redemption price of $25.00 per share (equivalent to $25,000 per share of the Series A Preferred Stock), plus $0.36056 per share, for a total payment of $25.36056 per share, the amount equal to all accumulated and unpaid dividends up to, but not including, the Redemption Date (the "Redemption Price"). The Series A Preferred Stock will cease to accumulate dividends immediately prior to the Redemption Date. Upon redemption, the Series A Preferred Stock (or related Depositary Shares) will no longer be outstanding, and all rights of the holders will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest. As a result, no separate dividend will be paid on February 17, 2026. Upon redemption, the Series A Preferred Stock will be delisted from trading on the New York Stock Exchange. The Depositary Shares are held through The Depository Trust Company ("DTC") and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as transfer agent and redemption agent, in accordance with the Deposit Agreement governing the Depositary Shares. Questions relating to, and requests for additional copies of, the notice of redemption and the related materials should be directed to Computershare Trust Company, N.A. for the redemption of the Series A Preferred Stock. The address for the redemption agent is as follows:Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St., Suite 101
Canton, MA 02021Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the Redemption Price for the Depositary Shares in which they have a beneficial interest.About SpireAt Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.FORWARD-LOOKING AND CAUTIONARY STATEMENTSThis news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Spire's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, economic factors, the competitive environment, governmental and regulatory policy and action, and risks associated with acquisitions. For a more complete description of these uncertainties and risk factors, see the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, each as filed with the Securities and Exchange Commission.Investor Contact:
Megan McPhail
314-309-6563
Megan.McPhail@SpireEnergy.comMedia Contact:
Jason Merrill
314-342-3300
Jason.Merrill@SpireEnergy.com36056



View original content to download multimedia:https://www.prnewswire.com/news-releases/spire-inc-announces-redemption-of-5-90-series-a-cumulative-redeemable-perpetual-preferred-stock-302674512.htmlSOURCE Spire Inc.

Original: Spire Inc. Announces Redemption of 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock

SRCTQ: Bankruptcy PLAN effective. All shares cancelled:

http://otce.finra.org/DLDeletions

All the good days. I would be glad if someone can help to understand what will happen to the company in case of purchase of 15 June 2015? I hold shares at $ 0.40. Can I count on any kind of compensation in case of sale? and 275 million who initially offered if they can cover the debts secured creditors and that shareholders will get? Thanking you in advance.

All the good days. I would be glad if someone can help to understand what will happen to the company in case of purchase of 15 June 2015? I hold shares at $ 0.40. Can I count on any kind of compensation in case of sale? and 275 million who initially offered if they can cover the debts secured creditors and that shareholders will get? Thanking you in advance.

All the good days. I would be glad if someone can help to understand what will happen to the company in case of purchase of 15 June 2015? I hold shares at $ 0.40. Can I count on any kind of compensation in case of sale? and 275 million who initially offered if they can cover the debts secured creditors and that shareholders will get? Thanking you in advance.

May 12 the court will consider a plan to emerge from bankruptcy. If everything is positive. Companies allocate 200-300 million aid in the form of a loan. At the moment, the capitalization of shares is 800K. After May 12 it can be 3-5 times higher. Observe and try to buy at cheap levels.
http://www.daytondailynews.com/news/business/standard-register-asks-bankruptcy-court-to-ok-43-m/nkyY2/

SRCTQ possible purchase of the company. With 8 million shares, it can be very high.

OlinSain,,, Go to the KEYO Board right here on I-hub. Ask there about KEYO.

Thank me later!

SRCT changed to SRCTQ, bankruptcy:

http://otce.finra.org/DLSymbolNameChanges

okay! thanks! I've been checking the company out, the last two months. do you have a position in STTK?

STTK big play coming.

what is your take on KEYO or SWHI? they appear to be earning money and have some cash. will you invest in these two stocks.

I never trade a company that files. BK... GLTY

I only looked at SRCT's chart. I didn't go any further than that. SFORD is looking better. They are through a R/S. ASK is 1000/BID is 100. Give me some play on possible upside potential? .O.

Say What. They are BANKRUPT

I just checked out SRCT it looks okay. SFORD looks ready to pop to the upside. Ask 1000/Bid 100. Check it out! What do you think?

Yes i posted it earlier...

SRCT, just filed Bankruptcy with liabilities and deficits of $463 Million, Vast !

Yep more scams in the making...

wELL, ANOTHER ONE BIT THE DUST

Date Event Type Eff/Ex Date Symbol Issue Name Market
03/12/2015 10:07:44 Financial Status Change Bankruptcy = Q 03/13/2015 00:00:00 SRCT Standard Register Co Common Stock Other OTC
Comments
Bankruptcy Filed.
Details
Previous Value Current Value
Symbol SRCT SRCTQ
Issue Name Standard Register Co Common Stock Standard Register Co Common Stock
Class
Maturity Date
Market Category Other OTC Other OTC
Unit of Trade 100 100
Regulatory Transaction Fee Yes Yes
Financial Status Indicator N Q
Current Value
Daily List Date 03/12/2015 10:07:44
Event Type Financial Status Change Bankruptcy = Q
Effective/Execution (Eff/Ex) Date 03/13/2015 00:00:00
Subject to Corporate Action
Offering Type No Restrictions
Daily List Comment Bankruptcy Filed.

SR changed to SRCT. Delisted from the NYSE to the OTC:

http://otce.finra.org/DLAdditions

LOOKS AS IF INSIDERS ARE SELLING OFF, .80 MIGHT BE ANOTHER REBUY AREA

I'm put this on my watch list a little while ago. Looking at an entry point between .80 and .90 for my own personal tastes, but it could just as well bounce tomorrow. Good luck to all.

Could be a huge winner!

SR coming down rapidly yet. I'm considering it for a quick rebound play soon. Been watching since the 1.30's, now crashing toward 1.00.
I think when it bounces, a move back toward 9 day EMA/SMA a reasonable expectation and would be a nice gain from here near 1.00 or lower entry (.80-.90?).
I know it has financial issues, however, BK might be an excessive conclusion to make in short term, and seems to be what is being priced in.

Could be opportunity here for a quick trade if one can catch the 'falling knife'

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110473783

What gives with this thing? SR is really crashing hard.
I understand its financials are not good, but everyday it drops double digits lately.
1.30's so far. It may be die for a quick bounce trade, however.

SR 5.65 time for reloading this pos.
MA50 break imminent and possible gap fill @9.70

Small position, chart looks ready to pop any day

Looks like the manipulation has this priced artificially low, any thoughts? I have my sights set on a flip at 12 but expect to see 10.5 to 11 on monday.

A new vote coming out any thought's?

Good article on the way forward
http://www.nytimes.com/2013/09/23/technology/companies-that-spend-big-on-tech-face-a-glut-of-choices.html

Oh that's ok. I didnt mean it that way. The posts here can stay - nobody reads this board anyways. I will email you. We can communicate there.

Hey NT, I picked this board to share because you moderate it and it is the least active of the ones that you do moderate. My email is on my profile. delete these posts if it is a problem, won't bother me whatsoever. I went to that newbie board but I did ot see you posting on it.
Anyway.... GTAT up this morning from upgrade, Just fyi. Later !

I have been trading actively for a while now - I have about 6 month experience in the market - I don't have a 9 to 5 - I have my own business which is contract based - My next project starts in October this year - I may get a little busy then and have less time to trade - I trade for a hobby and right now, I am trying to spend as much time as possible in the market so that I can nail my strategy and get better - Not trying to get rich now by trading.

I don't know much about OME* - Just played the MOMO coz it happened while I was online, lol - I don't think that OME* can be compared to ACA* - They have different share structures and different levels of institutional control - Check out HAL* (same big $$$ that's behind ACA*) - In my opinion, OME* was just a MOMO burst, just like US*, SR, STX*, SPE* and many others.

I keep a stable of stocks (the PPS doesn't matter) - I juice them out completely (day short and swing long) - I do play bigger % setups once in a while, but that's rare - There are some other strategies that I am aware of, however I am yet to back test them, so this is what I do now

I found ACA* a little late too - But if you see the chart - Even after it hit $20 and retraced - There was enough movement for nice swings - Since it is institution controlled, it is quite safe IMO - I don't touch near catalysts.

Yes - NO* had a nice day today - The punters are giving upgrades and selling their shares to retail - I watched the prints - The sell vol was higher than the buy volume although the stock went up - I am yet to watch the options vol though to see where its headed - But technically its gonna reach a boiling point very soon IMO - I am yet to look at it from a fundamental perspective, but from what I know the ticker was in the $3 to $4 range - The MS deal adds about $2 per share - That makes it a $5 to $6 stock - Pushing it so high so fast may lead to a correction very soon IMO.

FU is boiling - Short watch.

This is a specific ticker (SR) board - If you wish, then we can discuss about general tickers on other boards such as http://investorshub.advfn.com/NEWBIES-BOARD-23086/ (or even on Skype, I would prefer that).

Good luck.

Wow... you have a full-time and a half Job if you are that active. Good for you !
I'm not that active, I just trade when I catch something early and moving if r below $8. Nice day for Nokia today. I don't know if OMER will be another ACAD or not but they have a monopoly right now on eye-med thanks to the fda. I will be watching it closer than I watched ACAD, It got away from me.