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) announced that Icahn Enterprises LP has revised its unsolicited tender offer to acquire all outstanding shares for $82.50 each in cash. Previously, the Board rejected an offer of $75.00 per share, citing inadequacy and undervaluation. The Board will review the new offer with its financial advisors before advising stockholders. Investors are advised to take no action until a decision is reached. The company remains focused on its business of distributing natural gas and providing utility services across North America.
Southwest Gas Holdings, Inc. (NYSE: SWX) announced its plan to separate Centuri within 9 to 12 months, enhancing the potential for premium valuation due to its strong utility customer base and EBITDA growth. The company emphasized its solid regulatory relationships and near-record growth in revenues. The acquisition of MountainWest is expected to provide high-return assets, contributing to substantial cash flows. As a result, Southwest Gas aims to lower future borrowing costs and secure attractive financing as a pure-play regulated natural gas entity.
Southwest Gas Holdings, Inc. (NYSE: SWX) will host a conference call on March 2, 2022, at 1:00 PM ET to discuss its 2021 fourth quarter and full-year results. This follows the release of the earnings results on March 1, 2022. Investors can access the call through a live webcast on the company’s website or dial in using the provided telephone numbers. A replay will be available post-call. The conference ID for the call is 7668616.
Southwest Gas Holdings (SWX) announced its 2021 financial results, reporting consolidated earnings of $3.39 per diluted share and adjusted earnings of $4.17 per diluted share, compared to $4.14 in 2020. The company achieved a consolidated net income of $200.8 million, with the natural gas distribution segment contributing significantly to earnings. The utility infrastructure segment reported net income of $40.4 million. The company plans to separate its utility infrastructure segment, Centuri, to maximize stockholder value. For 2022, net income guidance has been set between $200 million and $210 million.
Southwest Gas Holdings (NYSE: SWX) announced a unanimous decision by its Board of Directors to separate its subsidiary, Centuri Group, into a standalone company within 9 to 12 months. This move aims to enhance shareholder value by enabling more direct comparability with industry peers and improving capital allocation efficiency. Centuri, projecting revenues of $2.65 to $2.80 billion for 2022, is well-positioned in the growing infrastructure modernization market. Southwest Gas will focus on regulated natural gas distribution across Arizona, Nevada, and California, while maintaining its existing dividend program.
Southwest Gas Holdings (SWX) confirmed that an affiliate of Carl Icahn extended its tender offer to acquire outstanding common shares at $75.00 per share. However, the Board rejected this unsolicited offer, deeming it inadequate and coercive. The Board continues to recommend stockholders not to tender shares, stating that the offer undervalues the company and lacks certainty of completion. Southwest Gas emphasized its commitment to delivering stable earnings and attractive returns to shareholders through a detailed strategy.
Southwest Gas Holdings, Inc. (SWX) will host a conference call to discuss its 2021 fourth quarter and annual results on March 2, 2022, at 1:00 P.M. (ET). This follows the earnings report scheduled for March 1, 2022. Investors can join the call via telephone at (877) 419-3678 or (614) 610-1910 internationally; the conference ID is 7668616. If missed, a digital replay will be available from 4:30 P.M. (ET) on March 2 until 4:30 P.M. (ET) on March 9. The call can also be accessed on their website.
Southwest Gas Holdings (NYSE: SWX) confirms that Carl Icahn's affiliate extended its tender offer to acquire shares at $75.00 each. The Board of Directors has rejected the unsolicited offer, deeming it inadequate and contingent on ambiguous conditions. Southwest Gas believes the offer undervalues the company and lacks certainty of completion. Moreover, Icahn's revised offer requires control of the Board, raising concerns about his true intentions. The Board emphasizes its commitment to enhancing shareholder value and is advised by Lazard and Moelis & Company.
Southwest Gas is transitioning natural gas service for 5,300 customers in Graham County from Graham County Utilities Inc. (GCU), starting January 18, 2022. This move is approved by the Arizona Corporation Commission, enhancing Southwest Gas's customer base to over one million in Arizona. Customers will maintain their current GCU rates until the conclusion of Southwest Gas's general rate case application. Southwest Gas plans to establish a local operation facility and has introduced a payment kiosk for customer convenience. The company focuses on delivering safe and reliable service.
On December 31, 2021, Southwest Gas Holdings completed the acquisition of Dominion Energy Quester Pipeline and its subsidiaries, now operating under the new subsidiary MountainWest Pipelines Holding Company. This acquisition, encompassing 2,160 miles of FERC-regulated natural gas pipelines, is expected to benefit earnings per share in 2022. The leadership will be under Colleen Larkin Bell, bringing over 30 years of industry experience. The company aims to leverage growth opportunities and enhance its role in the evolving energy landscape through this strategic expansion.
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