Welcome to our dedicated page for Southwest Gas Holdings news (Ticker: SWX), a resource for investors and traders seeking the latest updates and insights on Southwest Gas Holdings stock.
Southwest Gas Holdings, Inc. (NYSE: SWX) is a prominent utility company headquartered in Las Vegas, Nevada. Established in 1931, the company, through its subsidiaries, is engaged in the purchasing, distributing, and transporting of natural gas across Arizona, Nevada, and California. Serving over 2 million residential, commercial, and industrial customers, Southwest Gas Holdings ensures the safe and reliable provision of natural gas.
The company operates through two main segments: Natural Gas Operations and Utility Infrastructure Services. The Natural Gas Operations segment encompasses the core business of distributing natural gas, generating half of the company’s revenue primarily from residential and small commercial customers. The Utility Infrastructure Services segment, managed by the subsidiary Centuri Group Inc., contributes the other half of the revenue by providing underground piping contractor services and industrial construction solutions across North America.
As of December 31, 2019, Southwest Gas Holdings managed 2,081,000 natural gas customers. The company is committed to sustainability and innovation, continuously updating its infrastructure to meet the growing demands for energy in its service areas.
Recent developments highlight the company’s dynamic growth and strategic decisions. In 2024, Centuri Group Inc., a wholly-owned subsidiary, announced the retirement of its CEO Paul M. Daily, and the commencement of a search for a new CEO. The company plans to separate Centuri as an independent entity through an IPO, expected to enhance shareholder value.
Southwest Gas Holdings maintains a robust financial condition, reflected in its consistent payment of quarterly dividends since going public in 1956. In recent earnings reports, the company showcased a strong operational and financial performance, with notable increases in net income and adjusted net income for the fiscal year 2023.
The company's commitment to excellence and strategic growth ensures it remains a significant player in the energy sector, continually adapting to meet the needs of its diverse customer base while delivering shareholder value.
Southwest Gas Holdings (NYSE: SWX) has announced its first quarter 2025 dividend of $0.62 per share, payable March 3, 2025, to shareholders of record as of February 18, 2025. This dividend represents an annualized rate of $2.48 per share. The company has maintained a consistent record of quarterly dividend payments since its public listing in 1956. Southwest Gas serves over 2 million customers across Arizona, Nevada, and California, providing natural gas distribution and transportation services.
Southwest Gas Holdings reported Q3 2024 consolidated net income of $0.3M ($0.00 per diluted share) and adjusted net income of $6.8M ($0.09 per diluted share), compared to $3.2M ($0.04 per share) and $12.6M ($0.17 per share) in Q3 2023. The utility segment showed improvement with $0.6M net income versus a $3.3M loss last year. Key highlights include strong utility performance with 9% year-to-date earnings growth, filing of California rate case, advancement of Arizona rate case, and margin improvements from Nevada rate case. The company has over $450M in cash and expects no equity issuance in 2024, with capital needs through 2025.
Southwest Gas Holdings (NYSE: SWX) has announced it will release its third quarter 2024 financial results before market open on November 6, 2024. The company will host an earnings conference call and webcast at 11:00 AM ET on the same day. The conference call will be accessible via telephone at (800) 836-8184 for domestic callers and (646) 357-8785 for international participants. A digital replay will be available until November 13, 2024, by dialing (888) 660-6345 or (646) 517-4150 internationally, using replay code 98157#.
Southwest Gas Holdings, Inc. (NYSE: SWX) has been named one of the World's Most Trustworthy Companies 2024 by Newsweek for the second consecutive year. The company ranked in the top 2% among publicly listed companies worldwide. The list, compiled by Newsweek and Statista Inc., recognizes the top 1,000 most trustworthy companies across 23 industries and 20 countries.
The ranking is based on an independent survey of over 70,000 participants and 230,000 evaluations from customers, investors, and employees. It acknowledges companies that have earned trust by providing quality services, fair employee wages, and effective leadership. Karen Haller, President and CEO of Southwest Gas Holdings, attributed this recognition to the company's commitment to safely providing reliable and affordable energy services, and to their employees' dedication to customer excellence and community improvement.
Southwest Gas Holdings (NYSE: SWX) has declared a fourth quarter cash dividend of $0.62 per share, payable on December 2, 2024, to shareholders of record as of November 15, 2024. This dividend equates to $2.48 per share on an annualized basis. The company has consistently paid quarterly dividends since going public in 1956. Southwest Gas Holdings, based in Las Vegas, Nevada, operates primarily through its subsidiary Southwest Gas , which is involved in purchasing, distributing, and transporting natural gas. The company serves over 2 million customers across portions of Arizona, Nevada, and California.
Southwest Gas Holdings (NYSE: SWX) has been named one of America's Best Mid-Size Companies 2024 by TIME magazine. The inaugural list, compiled in collaboration with Statista Inc., evaluated companies based on employee satisfaction, revenue growth, and sustainability transparency. Eligible companies had annual revenues between $100 million and $10 billion in 2022 or 2023.
Karen Haller, President and CEO of Southwest Gas Holdings, emphasized the company's commitment to providing reliable and affordable energy services while fostering community relationships. This recognition underscores Southwest Gas's dedication to making a positive impact on employees, customers, and communities.
Southwest Gas Holdings (NYSE: SWX) reported Q2 2024 consolidated net income of $18.3 million ($0.25 per diluted share) and adjusted net income of $22.5 million ($0.31 per share). This reflects a decrease from Q2 2023's net income of $28.9 million ($0.40 per share) and adjusted net income of $38.8 million ($0.54 per share). The company's utility segment saw a 44.5% increase in net income to $27.6 million for the quarter.
Southwest Gas raised its full-year 2024 utility net income guidance by $5 million, now ranging between $233 million and $243 million. The company completed an IPO of Centuri Holdings, generating net proceeds of $328 million, primarily used to reduce Centuri's debt. Southwest Gas ended Q2 with nearly $600 million in cash and expects minimal capital market needs through 2026.
Key drivers included a $10.8 million increase in operating margin due to rate relief in Nevada and California, a 2% increase in O&M expenses, and a $13.2 million decrease in depreciation and amortization expenses.
Southwest Gas Holdings (NYSE: SWX) will announce its second-quarter 2024 financial results on August 6, 2024, before the market opens. The company will also host a live webcast earnings conference call on the same day at 11:00 AM ET to discuss the results. The call will be available on the company's website, with a digital replay accessible until August 13, 2024.
The earnings release will likely cover key financial metrics, including revenue and earnings per share (EPS). Investors can dial in using provided telephone numbers for both domestic and international participants. Additionally, a replay of the call will be available shortly after the live event.
Southwest Gas proudly marked a significant milestone by connecting its 1,000th customer in Mesquite, Nevada—the Chicago Greek restaurant. The restaurant transitioned from propane to natural gas, a move that increases cooking flexibility and reduces costs by half. This event highlights Mesquite's rapid growth since the 2015 Senate Bill 151 (SB151) allowed expansion of natural gas services to unserved areas. Since 2019, Mesquite's access to natural gas has attracted diverse industries, fueled economic growth, and improved the quality of life for residents. Crown Holdings, a major employer, began using natural gas in August 2023. Mesquite's rapid expansion makes it the fastest-growing city in Nevada, with Southwest Gas playing a pivotal role in this development.
Southwest Gas Holdings, Inc. reported first quarter 2024 consolidated net income of $87.7 million, or $1.22 per diluted share, compared to $45.9 million, or $0.67 per diluted share, in the first quarter of 2023. The Centuri IPO was successful, generating net proceeds of $329.3 million used to reduce Centuri debt. Southwest Gas expects to benefit from the Nevada rate case outcome and aims for 2024 utility net income towards the upper half of the range.
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