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, Inc. (NYSE: SWX) will host a conference call to discuss its 2021 second quarter and twelve-month results on August 6, 2021, at 1:00 P.M. (ET). The call will follow the earnings release scheduled for August 5, 2021. Interested parties can join the live webcast on the company's website or participate via telephone, with options for domestic and international calls. A digital replay of the conference call will be accessible starting at 4:30 P.M. (ET) on the same day and will remain available until August 13, 2021.
Centuri Group, a subsidiary of Southwest Gas Holdings (SWX), announced the acquisition of Riggs Distler for $855 million. The acquisition enhances Centuri's electric services and geographic reach without customer overlap. Riggs Distler has established long-term relationships with major utilities in the Northeast and Mid-Atlantic regions. Centuri aims to boost its offerings in renewable energy, 5G telecom, and utility services. The transaction is set to close in Q3 2021 and will be funded through new debt financing.
On June 29, 2021, Southwest Gas Holdings announced its subsidiary, Centuri Group, will acquire Riggs Distler for $855 million. This all-cash transaction aims to broaden Centuri's utility services and enhance its offerings in electric, renewable energy, and 5G telecom sectors. Expected to close in Q3 2021, the acquisition is anticipated to be accretive to earnings in the first full year and brings significant growth opportunities by expanding into new Northeast and Mid-Atlantic markets. Riggs Distler will operate as a standalone entity post-acquisition.
Southwest Gas Holdings (NYSE: SWX) will participate in the American Gas Association 2021 Virtual Financial Forum on May 19-20, 2021. Key executives, including John Hester (CEO), Greg Peterson (CFO), Ken Kenny (Treasurer), and Justin Brown (General Counsel), will engage in virtual meetings with investors. The presentation materials will be available on the Southwest Gas website starting at 8:00 a.m. EDT on May 19. This event underscores the company's commitment to investor relations.
Southwest Gas Holdings, Inc. (NYSE: SWX) will hold a conference call on Friday, May 7, 2021, at 1:00 P.M. (ET) to discuss its 2021 first quarter and twelve-month results. The call will take place following the earnings release on Thursday, May 6, 2021. Participants can join via the company’s website or by phone, with a digital replay available afterward. The call's conference ID is 5978692.
Southwest Gas Holdings reported consolidated earnings of $2.03 per diluted share for Q1 2021, up from $1.31 in Q1 2020. Consolidated net income rose to $117.3 million, compared to $72.5 million last year. The natural gas segment's net income increased to $118.7 million, while the utility infrastructure services segment narrowed its loss to $859,000 from $10.2 million. For the year ending March 31, 2021, net income reached $277.1 million, or $4.89 per diluted share. The company anticipates 2021 earnings between $4.00 and $4.20 per share.
The Board of Directors for Southwest Gas Holdings has declared a third-quarter cash dividend of $0.595 per share, payable on September 1, 2021. Shareholders of record as of August 16, 2021 will receive this dividend, which translates to an annualized rate of $2.38 per share. The company has maintained a continuous quarterly dividend payment since going public in 1956.
Southwest Gas Holdings operates through two segments: Southwest Gas Corporation, serving over two million customers in Arizona, Nevada, and California, and Centuri Group, Inc., providing utility infrastructure services across North America.
Southwest Gas Holdings, Inc. (NYSE: SWX) will hold a conference call on Friday, May 7, 2021, at 1:00 P.M. (ET) to discuss its 2021 first quarter and twelve-month results. The call comes after the release of the company's earnings on May 6, 2021. Interested parties can participate by calling (877) 419-3678 or (614) 610-1910 for international access. The conference ID is 5978692. For those unable to attend, a digital replay will be available starting at 4:30 P.M. (ET) on the same day until May 14, 2021. More information can be found on their website.
Southwest Gas Holdings (NYSE: SWX) will present at the Siebert Williams Shank - West Coast Utilities Virtual Conference on March 17, 2021, at 7:50 a.m. PDT. Key executives, including John Hester (CEO), Greg Peterson (CFO), Ken Kenny (VP of Finance), and Justin Brown (SVP and General Counsel), will lead the discussion. Presentation materials will be available on their website starting at 7:00 a.m. PDT on the same day. For further details, visit www.swgasholdings.com.
Southwest Gas Holdings (NYSE: SWX) will hold a conference call on February 26, 2021, to discuss its 2020 fourth quarter and annual results. The call will be held at 1:00 P.M. (ET) following the earnings release on February 25, 2021. Investors can access the call via telephone at (877) 419-3678 or internationally at (614) 610-1910. The conference ID is 8591684. If unable to join live, a digital replay will be available starting 4:30 P.M. (ET) on the same day until March 5, 2021.
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