Southwest Gas Holdings Inc   (SWX)
Other Ticker:  
    Sector  Utilities    Industry Natural Gas Utilities
   Industry Natural Gas Utilities
   Sector  Utilities
Price: $61.6300 $-1.58 -2.500%
Day's High: $62.71 Week Perf: -0.03 %
Day's Low: $ 61.13 30 Day Perf: 3.01 %
Volume (M): 507 52 Wk High: $ 68.03
Volume (M$): $ 31,222 52 Wk Avg: $60.98
Open: $62.71 52 Wk Low: $53.79

 Market Capitalization (Millions $) 4,428
 Shares Outstanding (Millions) 72
 Employees 2,247
 Revenues (TTM) (Millions $) 8,493
 Net Income (TTM) (Millions $) -196
 Cash Flow (TTM) (Millions $) -70
 Capital Exp. (TTM) (Millions $) 912

Southwest Gas Holdings Inc

In 2015, the Board of Directors (“Board”) of Southwest Gas Corporation authorized management to evaluate and pursue a holding company reorganization to provide further separation between regulated and unregulated businesses, and to provide additional financing flexibility. As part of the holding company reorganization, Centuri Construction Group, Inc. (“Centuri”) and Southwest Gas Corporation would each be subsidiaries of the new publicly traded parent holding company, Southwest Gas Holdings, Inc. (“Southwest Gas Holdings”); whereas, historically, Centuri had been a direct subsidiary of Southwest Gas Corporation. All of Southwest Gas Corporation’s outstanding debt securities (not associated with Centuri) at the time of the reorganization would remain at the Southwest Gas utility entity. Regulatory applications for preapproval of the reorganization were filed with the Arizona Corporation Commission (“ACC”), the California Public Utilities Commission (“CPUC”), and the Public Utilities Commission of Nevada (“PUCN”) in October 2015. Approvals were received from the CPUC, the PUCN, and the ACC in January, March, and May, respectively, of 2016. The reorganization, which was approved by the Board of Directors in December 2016, became effective in January 2017. Each outstanding share of Southwest Gas Corporation’s common stock automatically converted into a share of stock in Southwest Gas Holdings, on a one-for-one basis, and the ticker symbol of the stock, “SWX,” remains unchanged. This report is as of the balance sheet date of December 31, 2016 and periods up to that date (prior to the effective date of the holding company formation), with disclosures, where appropriate, for events following that date. Throughout this report, the “Company” refers to Southwest Gas Corporation and subsidiaries for periods prior to January 1, 2017 and to Southwest Gas Holdings, Inc. and subsidiaries for periods subsequent to December 31, 2016.

The Company was incorporated in March 1931 under the laws of the state of California. The Company is composed of two business segments: natural gas operations (“Southwest” or the “natural gas operations” segment) and construction services.

Southwest is engaged in the business of purchasing, distributing, and transporting natural gas for customers in portions of Arizona, Nevada, and California. Southwest is the largest distributor of natural gas in Arizona, selling and transporting natural gas in most of central and southern Arizona, including the Phoenix and Tucson metropolitan areas. Southwest is also the largest distributor of natural gas in Nevada, serving the Las Vegas metropolitan area and northern Nevada. In addition, Southwest distributes and transports natural gas for customers in portions of California, including the Lake Tahoe area and the high desert and mountain areas in San Bernardino County.

Centuri (the “construction services” segment), a 96.6% owned subsidiary of the Company, is a comprehensive construction services enterprise dedicated to meeting the growing demands of North American utilities, energy and industrial markets. Centuri derives revenue from installation, replacement, repair, and maintenance of energy distribution systems, and developing industrial construction solutions primarily for energy services utilities. Centuri operations are generally conducted under the business names of NPL Construction Co. (“NPL”), NPL Canada Ltd. (“NPL Canada”, formerly Link-Line Contractors Ltd.), W.S. Nicholls Construction, Inc. and related companies (“W.S. Nicholls”), and Brigadier Pipelines Inc. (“Brigadier”). In May 2016, Centuri completed the acquisition of two privately held, affiliated construction businesses: Enterprise Trenchless Technologies, Inc. and ETTI Holdings (collectively, “ETTI”).

Rates that Southwest is authorized to charge its distribution system customers are determined by the ACC, PUCN, and CPUC in general rate cases and are derived using rate base, cost of service, and cost of capital experienced in an historical test year, as adjusted in Arizona and Nevada, and projected for a future test year in California. The FERC regulates the northern Nevada transmission and liquefied natural gas (“LNG”) storage facilities of Paiute Pipeline Company (“Paiute”), a wholly owned subsidiary, and the rates it charges for transportation of gas directly to certain end-users and to various local distribution companies (“LDCs”). The LDCs transporting on the Paiute system are: NV Energy (serving Reno and Sparks, Nevada) and Southwest (serving Truckee, South and North Lake Tahoe in California and various locations throughout northern Nevada).

Rates charged to customers vary according to customer class and rate jurisdiction and are set at levels that are intended to allow for the recovery of all prudently incurred costs, including a return on rate base sufficient to pay interest on debt as well as a reasonable return on common equity. Rate base consists generally of the original cost of utility plant in service net of amounts associated with costs borne by third parties, plus certain other assets such as working capital and inventories, less accumulated depreciation on utility plant in service, net deferred income tax liabilities, and certain other deductions.

Rate structures in all service territories allow Southwest to separate or “decouple” the recovery of operating margin from natural gas consumption, though decoupled structures (alternative revenue programs), vary by state. In California, authorized operating margin levels vary by month. In Nevada, a decoupled rate structure applies to most customer classes providing stability in annual operating margin. In Arizona, a full revenue decoupling mechanism (currently, with a winter-period monthly weather adjuster) is in place for most customer classes.

Southwest is responsible for acquiring and arranging delivery of natural gas to its system in sufficient quantities to meet its sales customers’ needs. Southwest’s primary natural gas procurement objective is to ensure that adequate supplies of natural gas are available at a reasonable cost. Southwest acquires natural gas from a wide variety of sources and a mix of purchase provisions, which includes spot market and firm supplies. The purchases may have terms from one day to several years and utilize both fixed and indexed pricing. During 2016, Southwest acquired natural gas from 40 suppliers. Southwest regularly monitors the number of suppliers, their performance, and their relative contribution to the overall customer supply portfolio. New suppliers are contracted when possible, and solicitations for supplies are extended to the largest practicable list of suppliers, taking into account each supplier’s creditworthiness. Competitive pricing, flexibility in meeting Southwest’s requirements, and demonstrated reliability of service are instrumental to any one supplier’s inclusion in Southwest’s portfolio. The goal of this practice is to mitigate the risk of nonperformance by any one supplier and ensure competitive prices in the portfolio.

   Company Address: 8360 S. Durango Drive Las Vegas, 89193 NV
   Company Phone Number: 876-7237   Stock Exchange / Ticker: NYSE SWX


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Personnel Announcements

Bill Fehrman Sets Sail: Southwest Gas Appoints Accomplished Executive to Steer Company Through Turbulent Waters

Published Fri, Dec 22 2023 1:30 PM UTC

Southwest Gas Holdings, Inc. has made a significant stride towards enhancing its leadership capabilities with the appointment of esteemed utility and energy industry executive, Bill Fehrman, as the President and CEO of Centuri. Fehrman, who most recently served as the President and Chief Executive Officer of Berkshire Hathaway Energy, brings with him a wealth of ex...

Southwest Gas Holdings Inc

Southwest Gas Holdings Inc. boasts a skyrocketing surge in profitability, leaving financial experts astounded

/>In the third quarter of 2023, Southwest Gas Holdings Inc. surprised the market by posting positive earnings of $0.04 per share, a significant improvement from the previous year's loss of $-0.18 per share. While earnings per share saw a drop of 90% compared to the preceding reporting season, the company's revenue managed to increase by a modest 3.202% to $1.94 billion. These figures demonstrate Southwest Gas Holdings Inc.'s resilience in the face of a struggling Natural Gas Utilities sector. This article delves into the implications of this financial performance and ponders how it will impact the company moving forward.
Revenue Growth Amidst Industry Decline:
In a sector where most Natural Gas Utilities companies experienced a decline in revenue during the same period, Southwest Gas Holdings Inc. emerged as an exception. The 3.202% increase in revenue from $1.88 billion to $1.94 billion showcases the company's ability to navigate a challenging market successfully. This achievement reflects well on Southwest Gas Holdings Inc.'s management and strategy.

Southwest Gas Holdings Inc

Southwest Gas Holdings Inc Shines Brightly with Massive Revenue Increase, Defies Industry Decline

Southwest Gas Holdings Inc, a prominent player in the Natural Gas Utilities industry, has recently reported positive financial results for the fiscal interval ending June 30, 2023. The company's bottom-line turned positive, with earnings of $0.40 per share, compared to a loss of $0.10 per share the previous year. However, profit experienced a significant decline of -40.3%, dropping from $0.67 per share in the previous reporting period.
While many companies in the Natural Gas Utilities industry have experienced a decline in their top-line, Southwest Gas Holdings Inc has defied the trend by recording a revenue increase of 13.347%. The company's revenue rose from $1.85 billion to $2.10 billion in the similar financial reporting period a year before. However, sequentially, revenue decreased by -6.965% from $2.26 billion. This revenue gain sets Southwest Gas Holdings Inc apart from its competitors in the industry, as they have suffered an average decline of -29.80% in their top-line.
Southwest Gas Holdings Inc is celebrated for its commitment to helping customers progress and thrive. The company continually seeks out opportunities to improve and increase its market value. These positive financial results reflect its successful endeavors in achieving this mission. In the fiscal interval ending June 30, 2023, Southwest Gas Holdings Inc booked net profits of $30.259 million, a substantial improvement compared to a net shortfall of $-6.081 million in the same reporting period the previous year.

Southwest Gas Holdings Inc

Southwest Gas Holdings Inc Reports Lower Profitability in Q1 2023, But Still Shows Strong Revenue Growth

Southwest Gas Holdings Inc, a reputable company in the gas industry that operates in the United States, recently announced its financial results for the first quarter of 2023. The report highlights the income per share and revenue for the period between January and March 31, 2023.
According to the report, Southwest Gas Holdings Inc recorded an income per share of $0.67 and a revenue of $2.19 billion during the first quarter of 2023. This represents a significant drop in the income per share of the company compared to the corresponding period in the previous year, where they earned $1.58 per share. Despite this decline, the company experienced a 25.976% rise in revenue in the comparable period.


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