Southwest Gas/$SWX

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About Southwest Gas

Southwest Gas Holdings Inc is a utility company engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest. The company segments its activities into natural gas distribution and Utility Infrastructure Services units. The first of these encompasses the company's core natural gas business as distributors in the states of Arizona and Nevada. The natural gas distribution division is responsible for roughly half of Southwest Gas' total revenue through the sale of natural gas to mainly residential and small commercial customers. The Utility Infrastructure Services segment generates the other half of the company's total revenue from the underground piping contractor services that its subsidiary, Centuri Construction Group, provides.

Ticker

$SWX
Sector

Primary listing

NYSE

Employees

11,122

Southwest Gas Metrics

BasicAdvanced
$5.8B
12.44
$6.42
0.62
$2.48
3.11%

What the Analysts think about Southwest Gas

Analyst ratings (Buy, Hold, Sell) for Southwest Gas stock.

Bulls say / Bears say

The Arizona Corporation Commission approved Southwest Gas' 2024 rate case in March 2025, granting an $80.2 million annual revenue increase and a 9.84% return on equity, boosting the utility's margin profile (SEC Filing).
Southwest Gas added about 40,000 new meter sets in the twelve months ended March 31, 2025, driving 1.8% year-over-year customer growth, which supports ongoing volume and margin expansion (Southwest Gas Q1 2025 Release).
Management maintained 2025 net income guidance of $265 million to $275 million for the natural gas distribution segment and forecasts a 6%–8% adjusted net income CAGR through 2029, reflecting confidence in their regulatory and operational execution (Southwest Gas Q2 2025 Release).
Southwest Gas reported a second quarter net loss of $12.9 million, down $31.2 million year-over-year, mainly due to income taxes on the sale of Centuri stock, highlighting earnings volatility and the effects of non-recurring items (Nasdaq).
The company faces refinancing risk with a $550 million term loan coming due in July 2025, which will need to be refinanced or repaid under potentially unstable credit conditions (SEC Filing).
Hearings for Southwest Gas’ pending California general rate case are set for the second quarter of 2025, with a final decision expected in the fourth quarter, possibly postponing revenue and rate base increases in California until 2026 (SEC Filing).
Data summarised monthly by Lightyear AI. Last updated on 6 Nov 2025.

Southwest Gas Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Southwest Gas Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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