Spire Inc reported Q1 2025 adjusted earnings of $81.1 million, or $1.34 per share, down modestly from $82.7 million ($1.47 per share) in the prior-year quarter. Revenue totaled $669.1 million, a year-over-year decline of 11.6%, driven by weaker marketing results and weather effects, despite continued strength in Gas Utility and Midstream segments. The quarter featured a favorable CapEx cadence and ongoing regulatory activity across Missouri and Alabama. Management reaffirmed a positive growth trajectory anchored by a multi-year CapEx program and rate-based expansion, while maintaining a disciplined cost posture. The year remains load-bearing on regulatory outcomes, weather patterns, and the pace of rate-case settlements. The company continues to target long-run EPS growth of 5-7% and FY2025 adjusted EPS guidance of $4.40-$4.60, supported by a $7.4 billion ten-year CapEx plan with roughly 98% of spending allocated to utilities.