Southwest Gas Holdings, Inc. reports developments for a fully regulated natural gas business conducted through its primary operating subsidiary, Southwest Gas Corporation. The company purchases, distributes, and transports natural gas for customers across Arizona, Nevada, and California, with news focused on utility operating results, rate-base growth, regulatory proceedings, and capital planning.
Recurring updates also cover common stock dividends, earnings guidance, credit and financing metrics, Great Basin Gas Transmission Company expansion planning, and board or executive succession matters. Company news reflects Southwest Gas Holdings’ transition to a pure-play regulated natural gas utility following the completed separation from Centuri.
Southwest Gas Holdings (NYSE: SWX) reported strong financial results for Q4 and full-year 2024. The company achieved consolidated net income of $92.5M ($1.28 per share) in Q4 and $198.8M ($2.76 per share) for the full year. The utility segment delivered an 8.1% ROE and approximately 8% year-over-year earnings growth.
Key highlights include:
- Utility net income grew to $261.2M in 2024 from $242.2M in 2023
- Added 41,000 new meter sets (1.8% growth rate)
- Achieved full-year utility gross margin of $0.7B and record annual operating margin of $1.3B
- Completed Centuri Holdings IPO in April 2024
- Maintained flat O&M expenses per customer year-over-year
- Invested $859M in capital expenditures, up ~15% from 2023
The company secured regulatory approvals including a $59M annual revenue increase in Nevada with 9.5% ROE. Additional rate cases are pending in Arizona ($126M), Great Basin (~$13M), and California (~$50M).
Southwest Gas Holdings (NYSE: SWX) has announced its second quarter 2025 dividend declaration. The company will pay a dividend of $0.62 per share on June 2, 2025, to shareholders of record as of May 15, 2025. This dividend translates to $2.48 per share on an annualized basis.
The company has maintained an uninterrupted record of quarterly dividend payments since its public listing in 1956. Southwest Gas serves over 2 million residential, commercial, and industrial customers across Arizona, Nevada, and California through its primary subsidiary Southwest Gas The company is also the majority owner of Centuri Holdings, which provides utility infrastructure services across North America.
Southwest Gas Holdings (NYSE: SWX) has announced it will release its fourth quarter and year end 2024 financial results on February 26, 2025, before market open. The company will host an earnings conference call and webcast on the same day at 11:00 AM ET.
Investors can access the live webcast through the company's website at www.swgasholdings.com. For those participating via phone, the domestic call-in number is (800) 836-8184, while international participants can dial (646) 357-8785.
A digital replay will be available for those unable to attend the live event. The replay can be accessed by calling (888) 660-6345 (domestic) or (646) 517-4150 (international) using replay code 72782#. The replay will remain accessible until 4:30 PM ET on March 5, 2025. Additionally, the webcast will be archived on the company's website.
Southwest Gas Holdings (NYSE: SWX) has announced its first quarter 2025 dividend of $0.62 per share, payable March 3, 2025, to shareholders of record as of February 18, 2025. This dividend represents an annualized rate of $2.48 per share. The company has maintained a consistent record of quarterly dividend payments since its public listing in 1956. Southwest Gas serves over 2 million customers across Arizona, Nevada, and California, providing natural gas distribution and transportation services.
Southwest Gas Holdings reported Q3 2024 consolidated net income of $0.3M ($0.00 per diluted share) and adjusted net income of $6.8M ($0.09 per diluted share), compared to $3.2M ($0.04 per share) and $12.6M ($0.17 per share) in Q3 2023. The utility segment showed improvement with $0.6M net income versus a $3.3M loss last year. Key highlights include strong utility performance with 9% year-to-date earnings growth, filing of California rate case, advancement of Arizona rate case, and margin improvements from Nevada rate case. The company has over $450M in cash and expects no equity issuance in 2024, with capital needs through 2025.
Southwest Gas Holdings (NYSE: SWX) has announced it will release its third quarter 2024 financial results before market open on November 6, 2024. The company will host an earnings conference call and webcast at 11:00 AM ET on the same day. The conference call will be accessible via telephone at (800) 836-8184 for domestic callers and (646) 357-8785 for international participants. A digital replay will be available until November 13, 2024, by dialing (888) 660-6345 or (646) 517-4150 internationally, using replay code 98157#.
Southwest Gas Holdings, Inc. (NYSE: SWX) has been named one of the World's Most Trustworthy Companies 2024 by Newsweek for the second consecutive year. The company ranked in the top 2% among publicly listed companies worldwide. The list, compiled by Newsweek and Statista Inc., recognizes the top 1,000 most trustworthy companies across 23 industries and 20 countries.
The ranking is based on an independent survey of over 70,000 participants and 230,000 evaluations from customers, investors, and employees. It acknowledges companies that have earned trust by providing quality services, fair employee wages, and effective leadership. Karen Haller, President and CEO of Southwest Gas Holdings, attributed this recognition to the company's commitment to safely providing reliable and affordable energy services, and to their employees' dedication to customer excellence and community improvement.
Southwest Gas Holdings (NYSE: SWX) has declared a fourth quarter cash dividend of $0.62 per share, payable on December 2, 2024, to shareholders of record as of November 15, 2024. This dividend equates to $2.48 per share on an annualized basis. The company has consistently paid quarterly dividends since going public in 1956. Southwest Gas Holdings, based in Las Vegas, Nevada, operates primarily through its subsidiary Southwest Gas , which is involved in purchasing, distributing, and transporting natural gas. The company serves over 2 million customers across portions of Arizona, Nevada, and California.
Southwest Gas Holdings (NYSE: SWX) has been named one of America's Best Mid-Size Companies 2024 by TIME magazine. The inaugural list, compiled in collaboration with Statista Inc., evaluated companies based on employee satisfaction, revenue growth, and sustainability transparency. Eligible companies had annual revenues between $100 million and $10 billion in 2022 or 2023.
Karen Haller, President and CEO of Southwest Gas Holdings, emphasized the company's commitment to providing reliable and affordable energy services while fostering community relationships. This recognition underscores Southwest Gas's dedication to making a positive impact on employees, customers, and communities.
Southwest Gas Holdings (NYSE: SWX) reported Q2 2024 consolidated net income of $18.3 million ($0.25 per diluted share) and adjusted net income of $22.5 million ($0.31 per share). This reflects a decrease from Q2 2023's net income of $28.9 million ($0.40 per share) and adjusted net income of $38.8 million ($0.54 per share). The company's utility segment saw a 44.5% increase in net income to $27.6 million for the quarter.
Southwest Gas raised its full-year 2024 utility net income guidance by $5 million, now ranging between $233 million and $243 million. The company completed an IPO of Centuri Holdings, generating net proceeds of $328 million, primarily used to reduce Centuri's debt. Southwest Gas ended Q2 with nearly $600 million in cash and expects minimal capital market needs through 2026.
Key drivers included a $10.8 million increase in operating margin due to rate relief in Nevada and California, a 2% increase in O&M expenses, and a $13.2 million decrease in depreciation and amortization expenses.