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 (SWX) reported a record consolidated earnings of $4.14 per diluted share for 2020, up $0.20 from $3.94 in 2019. Consolidated net income rose to $232.3 million, compared to $213.9 million in 2019. The natural gas segment's net income decreased to $159.1 million from $163.2 million, while the utility services segment earned a record $74.9 million, up from $52.4 million. The company added 37,000 new utility customers and achieved a 96% customer satisfaction rating. For 2021, diluted EPS guidance is between $3.95 and $4.20.
The Board of Directors of Southwest Gas Holdings (SWX) has announced an increase in the quarterly common stock dividend from $0.57 to $0.595 per share. This represents a 4.4% increase, bringing the annualized dividend to $2.38 per share. The cash dividend will be payable on June 1, 2021, to shareholders of record as of May 17, 2021. The company has consistently paid dividends since 1956 and has increased them annually since 2007, demonstrating strong operational performance and investment-grade credit ratings.
Southwest Gas Holdings, Inc. (NYSE: SWX) will host a conference call on February 26, 2021, to discuss its 2020 Q4 and annual results. The earnings release is scheduled for February 25, 2021. Participants can join the call at 1:00 PM (ET) by calling (877) 419-3678 or internationally at (614) 610-1910, using conference ID 8591684. A live webcast will also be available on the company's website, with an archived version accessible after the call.
Southwest Gas advises customers in Arizona, California, and Nevada to conserve natural gas due to harsh winter weather impacting supply, especially in Texas. Natural gas prices have surged amid constrained supply. While there are no immediate shortages expected in Arizona, conservation is crucial to support the supply chain for other affected states. Customers are encouraged to limit non-essential usage and adopt energy-saving practices. The fluctuating prices are passed directly to customers without profit to the company. Updates are available on SWGas.com.
Southwest Gas Holdings has declared a first-quarter cash dividend of $0.57 per share, payable on March 1, 2021, to shareholders of record as of February 16, 2021. This dividend translates to an annualized rate of $2.28 per share and continues the company's trend of paying quarterly dividends since going public in 1956. The company operates through two segments: Southwest Gas Corporation, providing natural gas services to over two million customers in Arizona, Nevada, and California, and Centuri Group, Inc., focused on utility infrastructure services across North America.
Southwest Gas Holdings will hold a conference call on November 6, 2020, at 1:00 PM ET to discuss its 2020 Q3 and yearly results. This follows the release of earnings on November 5, 2020. Interested parties can listen live on the company's website or via telephone. The replay will be available starting 4:30 PM ET on the same day, accessible through specific replay numbers. The call aims to provide insights into the company's financial performance over the past year.
Southwest Gas Holdings (SWX) reported a consolidated earnings of $0.32 per diluted share for Q3 2020, up from $0.10 in Q3 2019. Net income reached $18.3 million, compared to $5.4 million a year earlier. The utility infrastructure segment's income grew to $34.9 million, while the natural gas segment posted a loss of $16 million. Key factors included a strong performance from Centuri services and effective cost management amidst COVID-19. Future prospects include increased revenues from recent rate case proceedings and robust customer growth.
Southwest Gas Holdings (NYSE: SWX) will host a conference call on November 6, 2020, at 1:00 PM ET to discuss its 2020 Q3 and full-year results. The earnings release is scheduled for November 5, 2020.
Participants can join the live webcast through its website at www.swgasholdings.com. A replay will be available post-call until November 12, 2020, via telephone.
Southwest Gas Holdings has declared a fourth-quarter cash dividend of $0.57 per share, payable on December 1, 2020, to shareholders of record as of November 16, 2020. This dividend amounts to an annualized total of $2.28 per share, continuing the company's long-standing history of paying quarterly dividends since 1956. The company operates through two segments: Southwest Gas Corporation, providing natural gas to over two million customers in Arizona, Nevada, and California, and Centuri Group, offering utility infrastructure services across North America.
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