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.
Summary not available.
Summary not available.
Summary not available.
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.
Southwest Gas Holdings has completed the sale of MountainWest Pipelines to Williams for $1.5 billion. This all-cash transaction is pivotal for simplifying Southwest Gas's corporate structure and refocusing on its core regulated utility business. The net proceeds will be used to repay $1.075 billion of debt, reducing the outstanding loan to approximately $73 million. Additionally, the company plans to spin off Centuri, expected by Q4 2023 or Q1 2024, aiming to enhance stability and investor alignment while emphasizing regulated cash flows, efficient capital deployment, and a commitment to safety.
Summary not available.