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) will announce its second-quarter 2024 financial results on August 6, 2024, before the market opens. The company will also host a live webcast earnings conference call on the same day at 11:00 AM ET to discuss the results. The call will be available on the company's website, with a digital replay accessible until August 13, 2024.
The earnings release will likely cover key financial metrics, including revenue and earnings per share (EPS). Investors can dial in using provided telephone numbers for both domestic and international participants. Additionally, a replay of the call will be available shortly after the live event.
Southwest Gas proudly marked a significant milestone by connecting its 1,000th customer in Mesquite, Nevada—the Chicago Greek restaurant. The restaurant transitioned from propane to natural gas, a move that increases cooking flexibility and reduces costs by half. This event highlights Mesquite's rapid growth since the 2015 Senate Bill 151 (SB151) allowed expansion of natural gas services to unserved areas. Since 2019, Mesquite's access to natural gas has attracted diverse industries, fueled economic growth, and improved the quality of life for residents. Crown Holdings, a major employer, began using natural gas in August 2023. Mesquite's rapid expansion makes it the fastest-growing city in Nevada, with Southwest Gas playing a pivotal role in this development.
Southwest Gas Holdings, Inc. reported first quarter 2024 consolidated net income of $87.7 million, or $1.22 per diluted share, compared to $45.9 million, or $0.67 per diluted share, in the first quarter of 2023. The Centuri IPO was successful, generating net proceeds of $329.3 million used to reduce Centuri debt. Southwest Gas expects to benefit from the Nevada rate case outcome and aims for 2024 utility net income towards the upper half of the range.
Southwest Gas Holdings, Inc. declares a third-quarter cash dividend of $0.62 per share, payable on September 3, 2024. The Company has a long history of paying quarterly dividends since 1956. Southwest Gas Holdings, Inc. is a dynamic energy company providing natural gas services to over 2 million customers in Arizona, Nevada, and California.
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