{"id":871624,"date":"2025-08-06T10:40:32","date_gmt":"2025-08-06T14:40:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/southwest-gas-holdings-inc-reports-second-quarter-2025-financial-results-reaffirms-guidance\/"},"modified":"2025-08-06T10:40:32","modified_gmt":"2025-08-06T14:40:32","slug":"southwest-gas-holdings-inc-reports-second-quarter-2025-financial-results-reaffirms-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/southwest-gas-holdings-inc-reports-second-quarter-2025-financial-results-reaffirms-guidance\/","title":{"rendered":"Southwest Gas Holdings, Inc. Reports Second Quarter 2025 Financial Results, Reaffirms Guidance"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n Regulatory Progress and Cost Management Improve Trailing 12-Month Utility ROE to 8.3%<\/i>\n <\/p>\n

\n Nevada Enacts Law Enabling Alternative Ratemaking for Natural Gas Utilities<\/i>\n <\/p>\n

\n CTRI Follow-on Offerings Drive Over\u00a0$470 million in Debt Reduction, Strengthening Balance Sheet<\/i>\n <\/p>\n

\n
\n LAS VEGAS<\/span>
\n <\/span>, Aug. 6, 2025<\/span><\/span> \/PRNewswire\/ — Southwest Gas Holdings, Inc. (NYSE: SWX) (“Southwest Gas Holdings” or “Company”) today reported results for its second quarter ended June\u00a030,\u00a02025. This earnings release should be read in conjunction with the Form 10-Q and earnings slides, which are concurrently being posted at www.swgasholdings.com<\/a>.<\/p>\n

“This quarter we continued to improve operational and financial performance at Southwest Gas Corporation, and we saw constructive regulatory developments in both Arizona<\/span> and Nevada<\/span>. The Arizona Corporation Commission (“ACC”) approved a capital tracker program; and, in Nevada<\/span>, Governor Lombardo signed Senate Bill 417 allowing for alternative ratemaking, which we anticipate will have positive impacts on price stability, regulatory cost reduction, and consumer protection enhancements,” said Karen Haller<\/span>, President and Chief Executive Officer at Southwest Gas Holdings. “Additionally, with the successful closing of two follow-on offerings and associated private placement sales of Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri”) common stock, Southwest Gas Holdings reduced its ownership of Centuri to approximately 52%, continuing our transformation into a premier, pure-play, fully regulated natural gas business. We used proceeds from these transactions to reduce debt by over $470 million<\/span>, further strengthening our balance sheet. We remain committed to fully separating Centuri and are evaluating the timing of further separation transactions with the objectives of optimizing value and limiting execution risk,” added Haller.<\/p>\n

“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.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Summary Financial Results<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n Three Months Ended
June\u00a030,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Six Months Ended
June\u00a030,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (In thousands, except per share items)<\/span>\n <\/p>\n<\/td>\n

\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2024<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Results of Consolidated Operations<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Contribution to net income – natural gas distribution<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0 33,677<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0 27,594<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0 176,619<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0 163,419<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Contribution to net income (loss) – utility infrastructure services<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,771<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,054<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (14,197)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (31,176)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Contribution to net income (loss) – corporate and administrative\u00a0 \u00a0 \u00a0<\/span>\n <\/p>\n<\/td>\n

\n

\n (52,331)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (14,315)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (61,435)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (26,173)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net income (loss)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0 (12,883)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0 18,333<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0 100,987<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0 106,070<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-GAAP adjustments – consolidated(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 51,471<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,200<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 56,972<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,924<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted net income(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 38,588<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0 \u00a0 \u00a0 22,533<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0 157,959<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0 120,994<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Consolidated (loss) earnings per share (diluted if applicable)<\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.18)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.25<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0 \u00a0 \u00a0 \u00a0 \u00a01.40<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0 \u00a0 \u00a0 \u00a0 \u00a01.47<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted consolidated earnings per diluted share(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.53<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.31<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0 \u00a0 \u00a0 \u00a0 \u00a02.19<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0 \u00a0 \u00a0 \u00a0 \u00a01.68<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Weighted average adjusted diluted shares(1),(2)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 72,249<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 72,015<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 72,195<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 71,949<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n
\n

\n
\n
\n
\n (1)<\/sup>
\n <\/span>
\n <\/i>
\n \u00a0For a reconciliation of non-GAAP financial measures, see the table later in this press release.<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n
\n (2) <\/sup>
\n <\/span>
\n <\/i>
\n As adjusted consolidated earnings per share reflects earnings (as opposed to a consolidated diluted loss for GAAP purposes) during the three
months ended June 30, 2025, adjusted consolidated earnings per diluted share reflects the dilutive effect of 161,000 restricted stock units which had
an antidilutive effect for the consolidated diluted loss over the same period.<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Recent Operational and Financial Highlights<\/b>\n <\/p>\n