The current study concerns speaking voice quality in two groups of professional voice users, teachers (n = 35) and actors (n = 36), representing trained and untrained voices. The voice quality of text reading at two intensity levels was acoustically analyzed. The central concept was the speaker's formant (SPF), related to the perceptual characteristics "better normal voice quality" (BNQ) and "worse normal voice quality" (WNQ). The purpose of the current study was to get closer to the origin of the phenomenon of the SPF, and to discover the differences in spectral and formant characteristics between the two professional groups and the two voice quality groups. The acoustic analyses were long-term average spectrum (LTAS) and spectrographical measurements of formant frequencies. At very high intensities, the spectral slope was rather quandrangular without a clear SPF peak. The trained voices had a higher energy level in the SPF region compared with the untrained, significantly so in loud phonation. The SPF seemed to be related to both sufficiently strong overtones and a glottal setting, allowing for a lowering of F4 and a closeness of F3 and F4. However, the existence of SPF also in LTAS of the WNQ voices implies that more research is warranted concerning the formation of SPF, and concerning the acoustic correlates of the BNQ voices.