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Spire (SR) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 5, 2026 · Spire (SR) Q3 FY26 earnings results →

Q3 FY26 Revenue down 0% year over year to $420M · 50¢ of every $1 of revenue kept as net profit · operating margin 5.6%

Spire made $420M in Q3 FY26 (-0.4% Y/Y). Operating margin 5.6%, net earnings $211M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$420M
Year over year-0.4%
Operating margin5.6%
Net earnings$211M
Operating cash flow$122M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $420.2M in Q3 FY26, roughly flat year over year and down 59% from the previous quarter.

Operating profit was $23.4M, a 5.6% margin (up 0.3 points year over year). Total costs fell 1% while revenue was flat. Net earnings were $211.2M, up 911% year over year. The effective tax rate was -7.8%. Non-operating items added $172.5M, 88% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $122.2M (down 5% year over year), 58% of net earnings. Non-cash charges added back $95.1M of depreciation and amortization. Working capital and other items used $184.1M. Capital expenditures of $213.4M exceeded it, leaving free cash flow of −$91.2M.

Quarterly history

Spire revenue by quarterSpire revenue by quarter$422MQ3 FY25$420MQ3 FY26
Spire net earnings by quarterSpire net earnings by quarter$20.9MQ3 FY25$211MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 5, 2026$420M-0.4%5.6%$211M$122M
Q3 FY2510-QAug 5, 2025$422M+2%16.4%$20.9M$129M

Charts

Spire: where the cash came from (+) and went (−), TTM to Q2 FY26Spire: where the cash came from (+) and went (−), TTM to Q2 FY26Acquisitions−$2.5BNet borrowing (+) / repaid (−)$2.4BCapital spending−$838MOperating cash flow$616MOther financing$522MDividends−$188MCash drawn (+) / kept (−)−$39.6MOther investing$33.6MShares issued$1.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Spire: profit against cash, quarter by quarterSpire: profit against cash, quarter by quarterNet incomeOperating cash flow−$12.6M$270MQ3 FY24−$25.9M$82.9MQ4 FY24$81.3M$81.1MQ1 FY25$209M$373MQ2 FY25$20.9M$129MQ3 FY25−$39.8M−$4.9MQ4 FY25$95.0M$81.0MQ1 FY26$282M$410MQ2 FY26
Latest (Q2 FY26): Net income $282M, Operating cash flow $410M.
Spire: diluted shares by fiscal yearSpire: diluted shares by fiscal year51MFY2052MFY2152MFY220MFY230MFY240MFY25
-100.0% since FY20: buybacks shrank the count.
Spire: long-term debt falling due (FY25)Spire: long-term debt falling due (FY25)$488M2026$108M2027$53.6M2028$28.5M2029$595M2030
Cash $5.7M, short-term investments —, long-term debt — at 2025-09-30.
Spire in its industry: growth against margin (17 companies, SIC 4924)Spire in its industry: growth against margin (17 companies, SIC 4924)revenue growth, year over year →↑ operating marginmedian +7%median 14%LNGVGCheniere Corpus Christi Holdings, LLCCQPSabine Pass Liquefaction, LLCATONFGSpire Alabama IncNJRMDUNFEEENorthwest Natural Gas CoNWNSLNGCETYSR (0%, 6%)
Natural Gas Distribution; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Spire

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 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 .

In its own words, from its 8-K, filed Aug 5, 2026.

Spire against its Natural Gas Distribution peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.4% against the peers' median +7%. Operating margin: 5.6% against the peers' median 31.0%.

CompanyQuarterRevenueY/YOp. margin
SR SpireQ3 FY26$420M-0.4%5.6%
LNG Cheniere EnergyQ3 2026$6.2B+39%31.0%
VG Venture GlobalQ2 2026$4.6B+48%47.8%
Cheniere Corpus Christi Holdings, LLCQ3 2026$2.7B+84%21.2%
CQP Cheniere Energy Partners, L.P.Q3 2026$2.6B+7%31.7%
Sabine Pass Liquefaction, LLCQ3 2026$2.5B+7%29.4%
ATO Atmos EnergyQ3 FY26$879M+5%36.4%
NFG National Fuel GasQ3 FY26$537M+1%38.9%
Spire AlabamaQ3 FY26$420M-0.4%5.6%

Source: Spire 10-Q on SEC EDGAR · CIK 1126956 · Natural Gas Distribution

Guidance and outlook

Spire: what its forward-looking statements are about (10-Q filed 2026-08-05)Spire: what its forward-looking statements are about (10-Q filed 2026-08-05)Financing3Other1
4 statements; tone +0.00 (−1 all cautious, +1 all confident); 1 hedged.

13F: who owns SR and who is buying

Largest holders of SR (13F)Largest holders of SR (13F)BlackRock$668MVanguard Group$532MVanguard Portfolio Management LLC$279MState Street$248MVanguard Capital Management LLC$200MAmerican Century Companies$173MFuller & Thaler Asset Management$131MGeode Capital Management, LLC$129MCaptrust Financial Advisors$84.7MAdage Capital Partners GP, L.L.C.$84.1M
Funds' net buying of SR by quarter (13F)Funds' net buying of SR by quarter (13F)$23.6M2024-09$28.3M2024-12−$53.1M2025-03$140M2025-06$131M2025-09−$48.1M2025-12−$231M2026-03−$29.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SR

History

Every quarter: Q3 FY26 results · Q3 FY25 results

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