Inferra AI / Company / SWX
Southwest Gas Holdings, Inc.
SWX · Utilities
Last earnings Aug 5, 2026
Key results
Southwest Gas net incomequarter
$6.1 million
Southwest Gas net income improvement of $6.1 million was driven by regulatory improvements to operating margin, while Centuri also showed an improvement of $0.7 million in net income during the second quarter.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Net incomequarter
$0.7 million
Southwest Gas net income improvement of $6.1 million was driven by regulatory improvements to operating margin, while Centuri also showed an improvement of $0.7 million in net income during the second quarter.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Gas Holdings adjusted net incomequarter
$16.1 million
Southwest Gas Holdings adjusted net income was $16.1 million higher than the second quarter of 2024, representing a 71% increase.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Net incomeytd
$13.2 million
Southwest Gas year-to-date net income improvement of $13.2 million was driven by regulatory improvements to operating margin, while Centuri also showed an improvement of $17.0 million in net loss during the same period.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Adjusted net incomeytd
$37.0 million
Southwest Gas Holdings year-to-date adjusted net income was $37.0 million, or 31%, higher than the same period of the prior year.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Increased operating marginquarter
$26.6 million
Southwest Gas Natural Gas Distribution - Second Quarter 2025 Key drivers of second quarter 2025 net income as compared to second quarter 2024 include Increased operating margin contributed $26.6 million.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Operating marginytd
$65.5 million
Release Date August 6, 2025 Southwest Gas Natural Gas Distribution - Year-To-Date 2025 Key drivers of year-to-date 2025 net income as compared to the corresponding period in 2024 include Increase in operating margin contributed $65.5 million period-over-period primarily attributable to combined rate relief across all of our service territories, which added approximately $51.1 million of incremental margin, and an additional $7.6 million was attributable to customer growth, including approximately 40,000 first-time meter sets during the last twelve months.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Revenuequarter
$6.7 million
Increases in recoveries and returns associated with regulatory account balances and the variable interest expense adjustment mechanism in Nevada (for which amortization is recognized in interest expense), along with revenue from customers outside of the decoupling mechanisms combined to increase margin by $6.7 million Operations and maintenance expense increased $5.6 million, or 2%, between periods.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Adjusted net incomequarter
$2.9 million
Centuri Utility Infrastructure Services - Second Quarter 2025 Net income improved by $0.7 million while adjusted net income improved by $2.9 million, respectively, when compared with the same period in the prior year.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
AI analysis
Q2 2025 · reported Aug 6, 2025
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q2 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Southwest Gas net income | $6.1 million | — | — |
| Net income | $0.7 million | — | — |
| Gas Holdings adjusted net income | $16.1 million | — | — |
| Increased operating margin | $26.6 million | — | — |
| Revenue | $6.7 million | — | — |
| Adjusted net income | $2.9 million | — | — |
Guidance · company-stated
Direction: reiterated
No guidance located in the held release
“Reports Second Quarter 2026 Financial Results, Reaffirms Full-Year 2026 Guidance Delivered 8.”
Margin
Capital allocation
Reports Second Quarter 2025 Financial Results, Reaffirms Guidance Regulatory Progress and Cost Management Improve Trailing 12-Month Utility ROE to 8.3% Nevada Enacts Law Enabling Alternative Ratemaking for Natural Gas Utilities CTRI Follow-on Offerings Drive Over $470 million in Debt Reduction, Strengthening Balance Sheet LAS VEGAS August 6, 2025 Southwest Gas Holdings, Inc.
We used proceeds from these transactions to reduce debt by over $470 million, further strengthening our balance sheet.
Event summary
EX-99 2 swx63025-earningsrelease.htm JUNE 2025 EARNINGS RELEASE Document Release Date August 6, 2025 Southwest Gas
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
No guidance located in the held release
Capital allocation
Reports Second Quarter 2025 Financial Results, Reaffirms Guidance Regulatory Progress and Cost Management Improve Trailing 12-Month Utility ROE to 8.3% Nevada Enacts Law Enabling Alternative Ratemaking for Natural Gas Utilities CTRI Follow-on Offerings Drive Over $470 million in Debt Reduction, Strengthening Balance Sheet LAS VEGAS August 6, 2025 Southwest Gas Holdings, Inc.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
We used proceeds from these transactions to reduce debt by over $470 million, further strengthening our balance sheet.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
These forward-looking statements can often be identified by the use of words such as will , predict , continue , forecast , expect , believe , anticipate , outlook , could , target , project , intend , plan , seek , pursue , estimate , should , may and assume , as well as variations of such words and similar expressions referring to the future, and include (without limitation) statements regarding expectations of continuing growth in 2025 and the future, and statements regarding the Great Basin Gas Transmission Company ( Great Basin ) 2028 Expansion Project, including projected demand, capacity, capital expenditures, and investment opportunity.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
In addition, the Company can provide no assurance that its discussions about future operating margin, operating income, COLI earnings, interest expense, and capital expenditures of the natural gas distribution segment will occur.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Capital expenditures for the three-months ended June 30, 2026 and June 30, 2025 were $ 320.4 million and $ 199.3 million, respectively, and for the six-months ended June 30, 2026 and June 30, 2025 were $ 529.1 million and $ 362.5 million, respectively.
SEC original ↗Southwest Gas Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026
Note 4 Debt Long-Term Debt Long-term debt is recognized in the Company s and Southwest Gas Condensed Consolidated Balance Sheets generally at the carrying value of the obligations outstanding.
SEC original ↗Southwest Gas Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026
Strategy & priorities
Looking forward, we have begun negotiations on initial precedent agreements with potential new shippers at Great Basin Gas Transmission Company, as the 2028 Expansion Project binding open season capacity demand increased to about 1.76 billion cubic ( Bcf ) feet per day from the approximately 1.25 Bcf amount we previously announced in June, concluded Haller.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Southwest Gas Holdings remains committed to pursuing a pure-play utility strategy through a disposition of its remaining interest in Centuri.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
These forward-looking statements can often be identified by the use of words such as will , predict , continue , forecast , expect , believe , anticipate , outlook , could , target , project , intend , plan , seek , pursue , estimate , should , may and assume , as well as variations of such words and similar expressions referring to the future, and include (without limitation) statements regarding expectations of continuing growth in 2025 and the future, and statements regarding the Great Basin Gas Transmission Company ( Great Basin ) 2028 Expansion Project, including projected demand, capacity, capital expenditures, and investment opportunity.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
Strategic review costs for Centuri include certain separation costs.
SEC original ↗Southwest Gas Holdings, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025
All statements other than statements of historical fact included or incorporated by reference in this quarterly report are forward-looking statements, including, without limitation, statements regarding the Company s plans, objectives, goals, intentions, projections, strategies, future events or performance, negotiations, and underlying assumptions.
SEC original ↗Southwest Gas Holdings, Inc. — 10-Q Quarterly report10-QAug 5, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
30 documentsEarnings releases
5 documentsPresentations
0 documentsNo presentations for Southwest Gas Holdings, Inc. are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Southwest Gas Holdings, Inc. are held in this edition of the library.
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