Spire to sell gas marketing unit to Boardwalk for $215 million; FY27 EPS guidance lowered
On March 28, 2026, Spire agreed to sell Spire Marketing Inc., its gas marketing business, to Boardwalk Pipelines, LP for $215 million in cash, with closing expected in fiscal third quarter 2026. Spire lowered its fiscal 2027 adjusted EPS guidance to $5.40–$5.60 from $5.65–$5.85, citing the sale, and said fiscal 2026 guidance will be revised on its May earnings call. Proceeds are expected to partly fund the Piedmont Natural Gas Tennessee acquisition.
Key points
- Cash purchase price of $215 million, subject to customary adjustments; Boardwalk would pay Spire a $12.9 million termination fee if the deal ends due to failed Hart-Scott-Rodino clearance
- Fiscal 2027 adjusted EPS guidance lowered to $5.40–$5.60 from $5.65–$5.85; fiscal 2026 guidance of $5.25–$5.45 not updated
- Sale expected to close in fiscal third quarter 2026; Spire Inc. guarantees the seller's obligations
- Spire reaffirmed long-term adjusted EPS growth of 5–7% using the original fiscal 2027 midpoint of $5.75 as a base
The filing
Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 30, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.