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. (NYSE: SWX) news covers developments at a regulated natural gas company whose primary business, through Southwest Gas Corporation, is purchasing, distributing, and transporting natural gas to more than 2 million customers in Arizona, Nevada, and California. Company announcements highlight how this utility manages growth in high-demand service territories, regulatory proceedings, and capital investment plans.
Investors and observers following SWX news will find updates on earnings results, customer growth, rate case activity, and regulatory outcomes that affect operating margin and returns. Recent releases have discussed improved net income from continuing operations, changes in credit ratings, and the impact of updated rates and capital investments across the company’s territories.
Corporate and governance news is also a recurring theme. Southwest Gas Holdings reports on board-level matters, cooperation agreements with the Icahn Group, registration rights arrangements, and senior leadership changes, including transitions in the Chief Financial Officer role. These items provide insight into the company’s strategic direction, shareholder relationships, and oversight structure.
Another important category of SWX news relates to the company’s separation from Centuri Holdings, Inc. and its transformation into a fully regulated natural gas business. Filings and press releases describe public offerings and private placements of Centuri common stock, the resulting deconsolidation of Centuri’s financial results, and the use of proceeds to repay holding company debt.
Operationally focused news includes updates from Great Basin Gas Transmission Company, a wholly owned subsidiary of Southwest Gas Corporation. Coverage has addressed open seasons and binding precedent agreements for a proposed 2028 expansion project intended to increase natural gas transportation capacity in Northern Nevada, subject to FERC approval. Bookmark this page to monitor ongoing financial, regulatory, infrastructure, and governance developments affecting Southwest Gas Holdings and its utility operations.
Southwest Gas Holdings, Inc. (NYSE: SWX) announced a public offering of $400 million in common stock, with a potential $60 million additional option for underwriters. Proceeds will be utilized to repay borrowings related to the acquisition of Questar Pipelines. The offering is managed by J.P. Morgan and BofA Securities, with a prospectus available via the SEC. This offering follows a shelf registration statement filed on December 2, 2020.
Southwest Gas Holdings, Inc. (NYSE: SWX) is urging stockholders to vote for its board nominees in light of Carl Icahn's attempts to gain control without providing a fair premium. The company emphasizes the value unlocked by the upcoming spin-off of Centuri, which has nearly doubled its revenue in the past four years. Following the spin-off, Southwest Gas will operate as a fully regulated natural gas business, maintaining its dividend and enhancing growth prospects. The board asserts that Mr. Icahn's $82.50 tender offer is inadequate, with a potential value for SWX estimated between $110 and $150 per share.
The Board of Directors of Southwest Gas Holdings (SWX) has unanimously rejected Carl Icahn's revised tender offer of $82.50 per share, deeming it inadequate and undervaluing the company. The Board emphasized that the offer is coercive and not in the best interests of stockholders. They argue that Icahn's claim of SWX potentially being worth between $110 and $150 per share highlights the inadequacy of his proposal. The Board also encourages stockholders to vote in favor of their director nominees using the WHITE proxy card.
Southwest Gas Holdings (NYSE: SWX) announced the issuance of $600 million in 4.05% Senior Notes due 2032, with net proceeds of approximately $592.7 million. This fund will be utilized to fully redeem the 3.875% Senior Notes due 2022, repay amounts under its credit facility, and for general corporate purposes. Additionally, the company extended its Term Loan Agreement and replaced LIBOR benchmarks with SOFR. Important filings have been made with the SEC to support these transactions.
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.