Welcome to our dedicated page for Southwest Gas Ho news (Ticker: SWX), a resource for investors and traders seeking the latest updates and insights on Southwest Gas Ho stock.
Southwest Gas Holdings, Inc. (SWX) provides natural gas distribution and utility infrastructure services across Arizona, Nevada, and California. This news hub offers investors and stakeholders direct access to the company's official communications and market-relevant developments.
Track SWX's operational updates through earnings reports, regulatory filings, and infrastructure project announcements. Our curated collection includes press releases detailing rate case outcomes, safety initiatives, and strategic moves like the Centuri subsidiary separation. All content is verified at source to ensure accuracy in this regulated utility environment.
Users will find updates organized by key operational categories: natural gas distribution service expansions, utility infrastructure project awards, and regulatory compliance milestones. The repository serves as a historical record of management decisions impacting long-term service territories.
Bookmark this page for streamlined monitoring of SWX's financial performance and industry positioning. Combine regular checks with regulatory filings for complete analysis of this essential service provider's market trajectory.
Southwest Gas Holdings (SWX) announced a strategic plan to simplify its business structure. The company will sell MountainWest Pipelines to Williams (WMB) for $1.5 billion, using proceeds to pay down a $1.1 billion term loan. Additionally, Southwest Gas plans to spin off its subsidiary, Centuri, into an independent entity focused on utility infrastructure services. This restructure aims to optimize operations, enhance shareholder value, and maintain a stable dividend policy. The anticipated loss from the sale is between $350 million and $425 million, net of tax. The transactions are expected to close in 2023.
Southwest Gas Holdings has declared a first-quarter cash dividend of $0.62 per share, payable on March 1, 2023, to shareholders on record as of February 15, 2023. This equates to an annualized dividend of $2.48 per share. The company has a long-standing history of paying quarterly dividends since its public debut in 1956. Southwest Gas Holdings provides natural gas distribution and comprehensive utility infrastructure services across North America, serving over two million customers in Arizona, California, and Nevada.
Southwest Gas Holdings (NYSE: SWX) reported a consolidated net loss of $12.3 million for Q3 2022, compared to a loss of $11.6 million in Q3 2021. Adjusted net loss was $3.3 million, down from an adjusted income of $3.1 million a year prior. The natural gas distribution segment saw an improvement with a narrower loss of $22.2 million, alongside strong revenues of $1.1 billion. Despite inflation and supply chain challenges impacting margins, the company is focusing on growth initiatives and a strategic review for MountainWest and Centuri. Full-year 2022 guidance for net income stands at $185-195 million.
Southwest Gas Holdings has appointed Robert J. Stefani as the new Chief Financial Officer, effective November 30, 2022. Stefani, previously CFO at PECO Energy, succeeds Gregory J. Peterson, who is retiring on the same date. In his new role, Stefani will oversee financial functions including planning, reporting, and investor relations. He brings extensive experience in corporate development and treasury to enhance growth and stockholder value. Karen Haller, President & CEO, expressed confidence in Stefani's leadership to guide the company toward its financial goals.
Southwest Gas Holdings (NYSE: SWX) will report its third quarter 2022 financial results on November 9, 2022, before market opening. An earnings conference call is scheduled for the same day at 1:00 PM ET, which will be available via live webcast on the company's website. Participants can also review a digital replay of the call starting an hour after it concludes, accessible until November 17, 2022. For more information, the contact details for investors and media are provided.
Southwest Gas Holdings has declared a fourth-quarter cash dividend of $0.62 per share, payable on December 1, 2022, with a record date of November 15, 2022. This dividend translates to an annualized amount of $2.48 per share. The company has maintained consistent quarterly dividends since going public in 1956. Southwest Gas Holdings provides natural gas distribution services across North America, serving over two million customers in Arizona, California, and Nevada.
Southwest Gas Corporation has proposed a hydrogen-blending demonstration project in Truckee, California, to support sustainable energy goals and carbon reduction targets. Filed with the California Public Utilities Commission on September 8, 2022, the project aims to test blending hydrogen with natural gas in extreme weather conditions. Over 18 months, blends of 5% to 20% hydrogen will be analyzed. This initiative seeks to close knowledge gaps in hydrogen use, meet local greenhouse gas reduction goals, and contribute to the development of a national hydrogen-injection standard.
Southwest Gas Holdings (SWX) reported a second quarter 2022 net loss of $6.6 million, translating to a diluted loss of $0.10 per share, contrasted with a profit of $25.1 million and $0.43 per share in Q2 2021. Adjusted net income was $15.7 million ($0.23 per share). The company noted record revenues in its natural gas distribution and utility infrastructure segments, despite macroeconomic pressures increasing operating expenses. Guidance for 2022 net income was revised down to $185-$195 million. The Board continues reviewing strategic alternatives for subsidiaries MountainWest and Centuri.
Southwest Gas Holdings will report its second quarter 2022 financial results on August 9, 2022, after market close. An earnings conference call is scheduled for August 10, 2022, at 1:00 PM ET, where the results will be discussed. The call can be accessed live on the company's website or via telephone at (800) 343-4849 for U.S. callers and (203) 518-9814 internationally. A digital replay will be available after the call until August 18, 2022.
On August 3, 2022, Southwest Gas Holdings (NYSE: SWX) announced its strategic directions following a review initiated on April 18, 2022. The Board aims to maximize shareholder value by focusing on executing its strategic plan and concluding the review for Southwest Gas and its subsidiary. Additionally, it will explore strategic options for Centuri Group and MountainWest Pipelines. The company highlighted strong growth potential for Southwest Gas Corporation due to favorable demographics and regulatory relationships. Financial advisors Moelis & Company, Lazard, and UBS Investment Bank are supporting the strategic process.
