Earnings summaries and quarterly performance for Southwest Gas Holdings.
Executive leadership at Southwest Gas Holdings.
Karen Haller
Detailed
President and Chief Executive Officer
CEO
AT
Amy Timperley
Detailed
Senior Vice President, Chief Regulatory, Public Affairs and Gas Resources Officer, Southwest Gas Corporation
CM
Catherine Mazzeo
Detailed
Senior Vice President, Chief Legal, Safety and Compliance Officer and Corporate Secretary
FP
Fabio Pineda
Detailed
Vice President, Controller and Chief Accounting Officer
JW
Julie Williams
Detailed
Senior Vice President, Continuous Improvement and Optimization, Southwest Gas Corporation
JB
Justin Brown
Detailed
President, Southwest Gas Corporation
RG
Randall Gabe
Detailed
Senior Vice President and Chief Administrative Officer, Southwest Gas Corporation
RS
Robert Stefani
Detailed
Senior Vice President and Chief Financial Officer
Board of directors at Southwest Gas Holdings.
AE
Andrew Evans
Detailed
Director
AT
Andrew Teno
Detailed
Director
AM
Anne Mariucci
Detailed
Director
BS
Brian Sandoval
Detailed
Director
CR
Carlos Ruisanchez
Detailed
Director
HL
Henry Linginfelter
Detailed
Director
JL
Jane Lewis-Raymond
Detailed
Director
LT
Leslie Thornton
Detailed
Director
RC
Renae Conley
Detailed
Chair of the Board
RS
Ruby Sharma
Detailed
Director
Research analysts who have asked questions during Southwest Gas Holdings earnings calls.
CE
Chris Ellinghaus
Siebert Williams Shank
7 questions for SWX
Also covers: BKH, CPK, CTRI +7 more
PF
Paul Fremont
Ladenburg Thalmann
4 questions for SWX
Also covers: AEE, CNP, CPK +18 more
RL
Ryan Levine
Citigroup
4 questions for SWX
Also covers: AEP, AES, ATO +17 more
James Ward
Jefferies
3 questions for SWX
Also covers: DUK, FTS, HE +1 more
CJ
Christopher Jeffrey
Mizuho Securities
2 questions for SWX
Also covers: ATO, ENLC, NI +3 more
GM
Gabriel Moreen
Mizuho Financial Group, Inc.
2 questions for SWX
Also covers: AROC, ATO, DKL +16 more
JD
Julian DeMullen-Smith
Jefferies
2 questions for SWX
Julien Dumoulin-Smith
Jefferies
2 questions for SWX
Also covers: AEE, AEP, AES +60 more
Richard Sunderland
JPMorgan Securities LLC
2 questions for SWX
Also covers: AES, AQN, ATO +9 more
Tim Winter
Gabelli
2 questions for SWX
CE
Christopher Ellinghaus
Siebert Williams Shank & Co., LLC
1 question for SWX
Also covers: BKH, CPK, CTRI +12 more
DL
Dylan Lipner
Ladenburg Thalmann
1 question for SWX
Also covers: CPK, OGE, PNW +1 more
EJ
Eli Joseph
JPMorgan Chase & Co.
1 question for SWX
SD
Stephen D’Ambrisi
Ladenburg Thalmann
1 question for SWX
Also covers: D, DUK, OGE +2 more
Recent press releases and 8-K filings for SWX.
Southwest Gas Holdings Reports Strong 2025 Results, Announces CEO Transition, and Provides 2026 and Long-Term Guidance
SWX
Earnings
CEO Change
Guidance Update
- Southwest Gas Holdings reported strong 2025 financial performance, with adjusted net income finishing above the top end of its guidance range and an adjusted return on equity of 8.3% for the year. Adjusted EPS from continuing operations increased to $3.65 in 2025 from $3.07 in 2024.
- The company initiated 2026 adjusted earnings per share guidance from continuing operations in the range of $4.17-$4.32 per share and projects 12%-14% EPS growth from 2025-2030, with a front-end loaded growth rate of 15%-17% through 2028-2029.
- The board of directors approved a 4% increase in the annual dividend, bringing it to an annualized $2.58 per share for 2026.
- Karen Haller will retire as President and CEO, with Justin Brown appointed as her successor effective May 8th.
- Following the full disposition of Centuri in September 2025, the company is now a fully regulated natural gas business and plans approximately $6.3 billion in capital investments through 2030, including the $1.7 billion Great Basin Expansion Project.
3 days ago
Southwest Gas Holdings Announces Q4 2025 Results, CEO Succession, and Future Guidance
SWX
Earnings
CEO Change
Guidance Update
- Southwest Gas Holdings completed the disposition of Centuri in September, transitioning to a fully regulated natural gas business, which enabled the full pay down of holding company debt and strengthened its balance sheet.
- The company reported strong 2025 financial performance with an adjusted return on equity of 8.3% and initiated 2026 adjusted EPS guidance of $4.17-$4.32 per share from continuing operations. It projects 12%-14% EPS growth from 2025-2030, with a front-end loaded 15%-17% growth through 2028-2029.
- The board approved a 4% increase in the annual dividend, effective with the Q2 2026 payout, bringing the annualized dividend to $2.58 per share.
- Justin Brown was appointed CEO, effective May 8th, succeeding Karen Haller, who will remain an advisor through the end of the year to ensure a smooth transition.
- The company plans approximately $6.3 billion in capital investments over the next five years (through 2030), including the $1.7 billion Great Basin Expansion Project anticipated to be in service near the end of 2028, which is expected to add $215 million-$245 million in incremental annual margin.
3 days ago
Southwest Gas Holdings Announces CEO Transition, Strong 2025 Results, and 2026 Guidance
SWX
CEO Change
Earnings
Guidance Update
- Southwest Gas Holdings announced the retirement of CEO Karen Haller, effective May 8th, 2026, with Justin Brown appointed as her successor.
- The company reported strong financial performance in 2025, with adjusted net income finishing above the top end of its guidance range and an adjusted return on equity of 8.3% for the year.
- For 2026, Southwest Gas Holdings initiated adjusted earnings per share guidance of $4.17-$4.32 and projects a 12%-14% compound annual EPS growth rate from 2025 to 2030, with 15%-17% growth expected through 2028-2029.
- The board approved a 4% increase in the annual dividend, raising it to an annualized $2.58 per share starting with the Q2 2026 payout.
- The company strengthened its balance sheet by fully paying down remaining holding company debt, which led to S&P upgrading its credit ratings to BBB+ with a stable outlook, and reported nearly $600 million in cash at year-end 2025.
3 days ago
Southwest Gas Holdings Announces Q4 and Full Year 2025 Results and Provides 2026 Guidance
SWX
Earnings
Guidance Update
New Projects/Investments
- Southwest Gas Holdings reported adjusted EPS from continuing operations of $3.65 for the full year 2025 and adjusted SWG net income of $283.9 million, an improvement of $22.8 million over 2024.
- The company initiated 2026 adjusted EPS guidance of $4.17 - $4.32 and projects a 2025-2030 adjusted EPS growth rate of 12.0% - 14.0%.
- A $6.3 billion five-year capital plan is in place to support rate base growth through 2030, with an expected 5-year rate base CAGR of 9.5%-11.5%.
- Key regulatory activities include an Arizona rate case filing expected in February 2026 with new rates anticipated in April 2027, and a Nevada general rate case filing expected in March 2026.
- The Board of Directors announced a 4% increase in its annual dividend to stockholders.
3 days ago
Southwest Gas Holdings Reports Strong Q4 and Full-Year 2025 Results, Increases Dividend, and Initiates 2026 Guidance
SWX
Earnings
Dividends
Guidance Update
- Southwest Gas Holdings, Inc. reported strong fourth quarter and full-year 2025 financial results, with $300 million Utility Net Income and $284 million Adjusted Net Income, exceeding the top end of their 2025 guidance range. The company achieved an 8.3% Adjusted Utility ROE and 18.6% Utility 2025 FFO/Debt, leading to an upgrade of SWX and SWG S&P Credit Ratings to BBB+.
- The Board of Directors approved a 4% increase in the common stock dividend, raising the regular quarterly dividend to $0.645 per share (annualized to $2.58 per share) starting with the second quarter of 2026. Management expects to continue recommending annual dividend increases.
- The company completed the full separation and deconsolidation of Centuri Holdings, Inc., generating approximately $1.35 billion in net proceeds.
- Southwest Gas Holdings initiated 2026 and forward-looking EPS and rate base guidance metrics and plans to file rate cases in Arizona and Nevada to enhance regulatory and customer predictability. They anticipate significant growth from the potential 2028 Great Basin Gas Transmission Company expansion project, with an estimated $1.7 billion of potential incremental capital investment.
3 days ago
Southwest Gas Holdings Reports Strong Q4 and Full-Year 2025 Results, Increases Dividend, and Initiates 2026 Guidance
SWX
Earnings
Dividends
Guidance Update
- Southwest Gas Holdings reported strong full-year 2025 financial results, with Utility Net Income of $300 million and Adjusted Net Income of $284 million, surpassing the top end of its 2025 net income guidance range. The company also achieved an 8.3% Adjusted Utility ROE and 18.6% Utility 2025 FFO/Debt.
- The Board of Directors approved a 4% increase in the common stock dividend, setting the new quarterly dividend at $0.645 per share (annualized to $2.58 per share), effective beginning with the second quarter of 2026.
- The company initiated 2026 earnings per share guidance from continuing operations of $4.17 - $4.32 and projected a 12.0% - 14.0% compound annual growth rate (CAGR) for earnings per share from continuing operations for the 2026-2030 period.
- Southwest Gas Holdings completed the full separation from Centuri, generating approximately $1.35 billion in net proceeds, and achieved an upgrade of its SWX and SWG S&P Credit Ratings to BBB+.
- The company plans to file rate cases in Arizona and Nevada and expects significant growth from the potential 2028 Great Basin expansion project, which involves an estimated $1.7 billion in incremental capital investment.
3 days ago
Southwest Gas Holdings' Subsidiary Closes Open Season for 2028 Expansion Project
SWX
New Projects/Investments
Guidance Update
- Southwest Gas Holdings' subsidiary, Great Basin Gas Transmission Company, has successfully closed its Second Supplemental Open Season for the 2028 Expansion Project and executed associated binding precedent agreements for natural gas expansion in Northern Nevada.
- The project anticipates capacity requests totaling nearly 800 million cubic feet per day and a potential estimated capital investment of approximately $1.7 billion.
- Estimated capital spending is projected at ~20% in 2026, ~25% in 2027, and ~55% in 2028, with an expected in-service date of November 1, 2028.
- Following the project's in-service, the company expects a potential annual incremental margin of approximately $215 million to $245 million. The company is not changing its guidance at this time, with future updates anticipated during its fourth quarter 2025 earnings conference call in February 2026.
Dec 8, 2025, 2:05 PM
SWX Announces Q3 2025 Results, Completes Centuri Separation, and Reaffirms Guidance
SWX
Earnings
Guidance Update
M&A
- Southwest Gas Holdings (SWX) reported diluted earnings per share from continuing operations of $0.06 for Q3 2025. Consolidated diluted EPS was $3.74, which included a $3.68 per diluted share contribution from discontinued operations, primarily due to the net gain on the sale of Centuri.
- The company completed the full separation of Centuri in September 2025, generating ~$879 million in net sales proceeds during the quarter and contributing to a total of $1.35 billion in net sales proceeds from the disposition. These proceeds were used to reduce SWX debt by ~$710 million.
- SWX reaffirmed its 2025 Utility net income guidance, expecting it toward the top end of the $265 - $275 million range. The company targets 6.0% to 8.0% net income growth and 6.0% to 8.0% rate base growth from 2025-2029.
- Key regulatory approvals in Q3 2025 included the AZ SIM Capital Tracker Approval and the NV Gas Planning Filing. Additionally, Standard and Poor's upgraded SWX and SWG on September 22, 2025.
Nov 5, 2025, 4:00 PM
Southwest Gas Holdings Completes Centuri Disposition, Updates Guidance, and Announces CFO Departure
SWX
Earnings
CFO Change
Guidance Update
- Southwest Gas Holdings successfully completed the disposition of Centuri through two final sales transactions, generating $1.35 billion in net sales proceeds and an estimated $1.3 billion in after-tax cash proceeds, which fully repaid remaining holding company debt and significantly improved the balance sheet.
- The company reaffirmed its full-year 2025 net income guidance towards the top end of the $265 to $275 million range and received an S&P credit rating upgrade to BBB plus with a stable outlook.
- CFO Rob Stefani is set to depart on December 1st, and the company is actively progressing with the Great Basin expansion project and pursuing alternative rate-making opportunities in Nevada and Arizona, alongside an agreement in principle for its California rate case.
Nov 5, 2025, 4:00 PM
Southwest Gas Holdings Reports Strong Q3 2025 Earnings, Announces CFO Departure, and Updates on Strategic Projects
SWX
Earnings
CFO Change
New Projects/Investments
- Southwest Gas Holdings reported a consolidated EPS of $3.74 per diluted share for Q3 2025, with continuing operations contributing an improvement of $0.19 per diluted share and discontinued operations (Century sale) adding $3.68 per diluted share.
- CFO Rob Stefani will depart on December 1st, with the board initiating a search for his replacement.
- The company is advancing its 2028 Great Basin expansion project, with an estimated cost of $1.2 billion to $1.6 billion, targeting a FERC filing in Q4 2026 and an in-service date of November 2028.
- S&P upgraded the company's debt ratings to BBB+ with stable outlooks , driven by the full repayment of holdco debt and the complete separation of Century.
- Significant regulatory progress includes planned rate case filings in Nevada (March 2026) and Arizona (Q1 2026), with new rates expected to be effective in October 2026 and the first half of 2027, respectively.
Nov 5, 2025, 4:00 PM
Quarterly earnings call transcripts for Southwest Gas Holdings.
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