Southwest Gas Ho Stock Price, News & Analysis

Southwest Gas Holdings (NYSE: SWX) has completed its secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, selling 17,250,000 shares at $19.50 per share, including the full exercise of the underwriters' over-allotment option.

Additionally, Icahn Partners purchased 1,573,500 shares in a concurrent private placement at the same price. SWX received total net proceeds of approximately $356 million ($325M from offering + $31M from private placement) and retains a 30.9% ownership in Centuri. The company will now deconsolidate Centuri from its financial statements and account for its remaining interest using the equity method.

The proceeds will be used for debt repayment and general corporate purposes.

Southwest Gas Holdings (NYSE: SWX) has announced the pricing of a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock. The company is offering 15 million existing shares at $19.50 per share, with an option for underwriters to purchase up to 2.25 million additional shares within 30 days.

Additionally, Icahn Partners and affiliated entities will purchase 1,573,500 shares from Southwest Gas Holdings in a concurrent private placement at the same price per share. The offering is expected to close on August 11, 2025, with major financial institutions including J.P. Morgan, Wells Fargo Securities, BofA Securities, and Moelis & Company serving as joint lead book-running managers.

Southwest Gas Holdings (NYSE: SWX) has announced a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock. The offering includes 15 million existing shares with an additional 30-day option for underwriters to purchase up to 2.25 million shares.

Additionally, Icahn Partners and Icahn Partners Master Fund LP, affiliated with Carl C. Icahn, will purchase 1,573,500 shares of Centuri's common stock in a concurrent private placement at the same price as the public offering. The private placement will close after the main offering, with the main offering not being contingent on the private placement's completion.

Southwest Gas Holdings (NYSE: SWX) reported Q2 2025 financial results, highlighting significant operational and financial developments. The company recorded a Q2 net loss of $12.9 million, compared to net income of $18.3 million in Q2 2024, primarily due to tax impacts from Centuri stock sales. However, adjusted net income increased 71% to $38.6 million.

Key highlights include: $470 million debt reduction through Centuri follow-on offerings, improved utility ROE to 8.3%, and regulatory progress in Arizona and Nevada. The company's Great Basin Gas Transmission expansion project saw increased demand to 1.76 Bcf per day. Southwest Gas added 40,000 new meter sets, achieving 1.8% customer growth, and maintained strong liquidity with $356 million in cash and over $1.0 billion in available funds.

[ "Debt reduction of $470 million through successful Centuri follow-on offerings", "Utility ROE improved to 8.3% over trailing 12 months", "Natural Gas Distribution earnings grew 22% over Q2 2024", "Customer base expanded by 40,000 new meter sets (1.8% growth)", "Great Basin Gas Transmission project demand increased to 1.76 Bcf per day", "Strong liquidity position with $356M cash and over $1B available", "Adjusted net income increased 71% year-over-year to $38.6M" ]

Southwest Gas Holdings (NYSE: SWX) has scheduled its second quarter 2025 earnings conference call and webcast for August 6, 2025, at 11:00 AM ET. The company will release its financial results before the markets open on the same day.

Investors can access the live webcast through the company's website at www.swgasholdings.com. For those unable to attend the live event, the call will be archived on the website. Additionally, a digital replay will be available by phone until 4:30 PM ET on August 13, 2025, using the replay code 15251#.

Southwest Gas Holdings (NYSE: SWX) has completed a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, selling 11,212,500 shares at $20.75 per share, including the full exercise of underwriters' over-allotment option. The company received approximately $225 million in net proceeds from the offering. Additionally, SWX has agreed to sell 1,060,240 shares to Icahn-affiliated investors in a private placement at the same price, expected to generate about $22 million in additional proceeds. After the offering, SWX retains approximately 53.3% ownership of Centuri, which would decrease to 52.1% following the Icahn private placement. The company plans to use all proceeds for debt repayment. The offering was managed by multiple financial institutions, led by J.P. Morgan and Wells Fargo Securities.

Southwest Gas Holdings (NYSE: SWX) has priced its upsized secondary public offering of Centuri Holdings (NYSE: CTRI) common stock at $20.75 per share. The offering size was increased to 9.75 million shares from the originally proposed 9.5 million shares, with an additional 30-day option for underwriters to purchase up to 1.46 million more shares. The offering is expected to close on June 18, 2025. Additionally, Southwest Gas Holdings plans to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement at the same price per share, subject to antitrust approvals and other conditions. The private placement must close by July 9, 2025, or it will terminate. J.P. Morgan and Wells Fargo Securities are leading the offering as joint book-running managers, with several other financial institutions participating in various roles.

Southwest Gas Holdings (NYSE: SWX) has announced a secondary public offering of Centuri Holdings (NYSE: CTRI) common stock, offering 9.5 million existing shares with an additional 30-day option for underwriters to purchase up to 1.425 million more shares. Additionally, SWX has agreed to sell $22 million worth of Centuri shares to Carl Icahn-affiliated investment entities in a concurrent private placement, subject to antitrust approvals and other conditions. The private placement must close by July 9, 2025, and will be priced equal to the public offering. The offering will be made through an effective shelf registration statement filed with the SEC, with the public offering not being contingent on the private placement's completion.

Southwest Gas Holdings (NYSE: SWX) announced successful closure of Great Basin Gas Transmission Company's 2028 Expansion Project Binding Open Season, revealing strong demand for expanded firm transportation service in Northern Nevada. The project estimates incremental capacity of 1.25 billion cubic feet per day, with minimum twenty-year term agreements and potential capital investment of $800 million to $1.2 billion. The expansion aims to enhance Great Basin's existing 898-mile transmission system, with anticipated expansion rates between $14-$17 per Dth per month. The project's completion is subject to successful negotiation of precedent agreements by Q3 2025 and FERC approval. The company notes these estimated impacts are not reflected in their 2025 guidance.