Southwest Gas Ho Stock Price, News & Analysis

On March 8, 2023, Southwest Gas Holdings (NYSE: SWX) announced the pricing of a public offering of 3,576,180 shares of common stock at $60.12 per share, aimed to raise approximately $207.7 million in net proceeds. The offering is set to close on March 10, 2023 and includes a 30-day option for underwriters to purchase an additional 536,427 shares. Proceeds will be used to repay borrowings from its credit facility related to the acquisition of MountainWest Pipelines, as well as for working capital and general corporate purposes.

On March 7, 2023, Southwest Gas Holdings, Inc. (NYSE: SWX) announced a public offering of $215 million in common stock, with an option for underwriters to purchase an additional $32.25 million within 30 days. The funds will be utilized to repay borrowings from its credit facility and a 364-day term loan from November 2021 related to the acquisition of MountainWest Pipelines. The company aims to support working capital and general corporate purposes. J.P. Morgan and BofA Securities are joint book-running managers for the offering, which is registered under a shelf registration statement filed with the SEC.

Southwest Gas Holdings (NYSE: SWX) reported its 2022 financial results, revealing a consolidated net loss of $281 million, or $(4.18) per diluted share, compared to a net income of $69.9 million in Q4 2021. The company completed the sale of MountainWest for $1.5 billion, enhancing its balance sheet flexibility. Despite a record operating margin of $1.15 billion, the natural gas distribution segment saw a decline in net income to $154.4 million. The company initiated 2023 net income guidance of $205 - $215 million and plans to spin off Centuri, expected to unlock stockholder value. The firm aims for $665 - $685 million in capital expenditures in 2023.

The Board of Directors for Southwest Gas Holdings (NYSE: SWX) has declared a second quarter cash dividend of $0.62 per share, payable on June 1, 2023, with a record date of May 15, 2023. This dividend translates to an annualized amount of $2.48 per share and highlights the company’s long-standing commitment to returning value to shareholders, as it has paid quarterly dividends since going public in 1956.

Southwest Gas Holdings operates across North America, providing natural gas distribution and utility services to over 2 million customers in Arizona, Nevada, and California.

Southwest Gas Holdings (NYSE: SWX) will announce its 2022 fourth quarter and full-year financial results on February 28, 2023, after market close. An earnings conference call is scheduled for March 1, 2023, at 1:00 PM ET, to discuss these results alongside additional business and financial insights. Investors can participate by dialing (844) 695-5521 for domestic or (412) 317-5438 for international calls, using the conference ID 10174510. The call will also be accessible via webcast and archived on the company’s website.