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Spire Inc. 2025 Annual Report on Form 10-K
2025 highlights 2025 Fiscal years ended September 30 2024 2023 Earnings and dividends (millions, except per share amounts) Net income 271.7 250.9 217.5 Diluted earnings per share of common stock 4.37 4.19 3.85 Adjusted earnings* 275.5 247.4 228.1 Diluted adjusted earnings per share of common stock* 4.44 4.13 4.05 Dividends declared per share of common stock 3.14 3.02 2.88 Operating revenues (millions) Gas Utility $ 2,207.5 $ 2,436.2 $ 2,456.6 Gas Marketing 157.2 99.2 179.1 Midstream and other 111.7 57.6 30.6 $ 2,476.4 $ 2,593.0 $ 2,666.3 Volume sold and transported (millions of Ccf) 3,275.2 3,089.5 3,220.7 Annual average customers (thousands) 1,744.5 1,740.9 1,735.6 Total operating revenues Gas Utility volume and customers Shareholders Common shareholders of record, end of period 2,293 2,424 2,537 3,497 3,475 3,589 Employees Total employees, end of period * For further discussion of these non-GAAP financial measures, see page 26 of our Annual Report on Form 10-K. Profile At Spire, we re committed to safely and reliably serving the natural gas needs of our customers and communities. 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 operational excellence. Learn more at SpireEnergy.com.
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 • stockholder letter icon 12/18/2024 SR Stockholder Letter
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 • Benford's Law Stocks icon SR Benford's Law Stock Score = 98


SR Shareholder/Stockholder Letter Transcript:

Spire Inc.
2025 Annual Report
on Form 10-K

2025 highlights
2025
Fiscal years ended September 30
2024
2023
Earnings and dividends (millions, except per share amounts)
Net income

271.7

250.9

217.5
Diluted earnings per share of common stock

4.37

4.19

3.85
Adjusted earnings*

275.5

247.4

228.1
Diluted adjusted earnings per share of common stock*

4.44

4.13

4.05
Dividends declared per share of common stock

3.14

3.02

2.88
Operating revenues (millions)
Gas Utility
$ 2,207.5
$ 2,436.2
$ 2,456.6
Gas Marketing

157.2

99.2

179.1
Midstream and other

111.7

57.6

30.6
$ 2,476.4
$ 2,593.0
$ 2,666.3
Volume sold and transported (millions of Ccf)
3,275.2
   3,089.5
   3,220.7
Annual average customers (thousands)
1,744.5
   1,740.9
   1,735.6
Total operating revenues
Gas Utility volume and customers
Shareholders
Common shareholders of record, end of period

2,293

2,424

2,537

3,497

3,475

3,589
Employees
Total employees, end of period
* For further discussion of these non-GAAP financial measures, see page 26 of our Annual Report
on Form 10-K.
Profile
At Spire, we   re committed to safely and reliably serving the
natural gas needs of our customers and communities. 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 operational excellence. Learn
more at SpireEnergy.com.



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