Business
Spire announces sale of gas marketing business to Boardwalk Pipelines for $215 million
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 Tenness
About this update from Spire Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Sharpens Spire's focus on regulated natural gas utility businesses","length":70,"tagName":"p"}]},{"val":[{"type":"text","content":"Improves risk profile and long-term growth strategy","length":51,"tagName":"p"}]},{"val":[{"type":"text","content":"Reaffirms long-term adjusted earnings per share (EPS) growth of 5-7% using original fiscal 2027 adjusted EPS midpoint as a base","length":127,"tagName":"p"}]},{"val":[{"type":"text","content":"Proceeds expected to be used to partially fund the acquisition of the Piedmont Natural Gas Tennessee business and general corporate purposes","length":140,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":388,"olType":false},{"type":"text","content":"ST. 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.","length":800,"tagName":"p"},{"type":"image","alt":"Spire logo (PRNewsfoto/Spire Inc.)","displaySize":"","headline":null,"caption":"Spire logo (PRNewsfoto/Spire Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":218,"url":"https://media.zenfs.com/en/prnewswire.com/17d4d3273d19fefbb52c247f845c84c9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/2diIFoi1WfYcPoWzdR7jJA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM4NA--/https://media.zenfs.com/en/prnewswire.com/17d4d3273d19fefbb52c247f845c84c9","width":400,"height":218}},"href":"https://mma.prnewswire.com/media/1818129/Spire_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""As we continue to sharpen our focus on our core regulated utility operations, we have entered into an agreement to sell our gas marke...