NYSE$SWX
Southwest Gas Holdings Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Southwest Gas Holdings reported strong first quarter utility earnings and successfully executed Centuri IPO, using net proceeds to reduce Centuri debt.
Southwest Gas Holdings reported a consolidated net income of $87.7 million, or $1.22 per diluted share, for Q1 2024, compared to $45.9 million, or $0.67 per diluted share, for Q1 2023. Adjusted consolidated net income was $98.5 million, or $1.37 per diluted share, compared to $121 million, or $1.77 per diluted share for the same period last year. The company also completed the Centuri IPO and is focused on becoming a pure-play natural gas utility.
- Completed the Centuri IPO at $21.00 per share, using net proceeds of approximately $329.3 million to reduce Centuri's debt.
- Received a positive outcome in the Nevada rate case and expects to benefit from refreshed customer rates in Q2 2024.
- Operations and maintenance expenses were relatively flat compared to the prior year's first quarter, reflecting cost discipline.
- Affirmed 2024 Southwest net income guidance of $228 - $238 million and capital expenditures of $830 million.
Headline financials
Revenue & EPS history
Southwest Gas · Revenue · Quarterly
$1.58B
Revenue by segment
Southwest Gas · $395M total across 1 segment · Q3 2023
- Natural Gas Distribution$395M—100.0%
Forward guidance
The Company has affirmed the following forward-looking guidance for Southwest Gas.
Tailwinds
- 2024 Southwest net income guidance: $228 - $238 million
- 2024 Capital expenditures in support of customer growth, system improvements, and pipe replacement programs: $830 million
- 2024 - 2026 Southwest adjusted net income compound annual growth rate: 10% - 12%
- 2024 - 2026 Capital expenditures: $2,400 million
- 2024 - 2026 Southwest rate base compound annual growth rate: 6.5% - 7.5%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.2%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.5%
Avg return
30 days after
51%
32 / 63 earnings
Positive
+9.0%
Q4 2023
Best reaction
-7.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -1.4% | +0.6% | -1.5% | |
| Q3 2025 | -4.1% | -3.8% | -4.0% | |
| Q1 2025 | -7.8% | -8.8% | -5.2% | |
| Q4 2024 | -2.5% | -1.9% | -5.6% | |
| Q3 2024 | -0.3% | +4.7% | +2.7% | |
| Q2 2024 | -1.0% | +0.0% | -1.9% | |
| Q1 2024 | +0.9% | -0.6% | -2.9% | |
| Q4 2023 | +9.0% | +12.2% | +21.7% | |
| Q3 2023 | -1.8% | -1.0% | +2.9% | |
| Q2 2023 | +3.1% | +1.7% | -4.6% | |
| Q1 2023 | +1.9% | +0.3% | +11.2% | |
| Q4 2022 | -6.6% | -5.6% | -2.3% | |
| Q3 2022 | -2.9% | -6.0% | +4.8% | |
| Q2 2022 | -2.5% | -0.3% | +6.2% | |
| Q1 2022 | +2.5% | +4.0% | +5.2% | |
| Q4 2021 | +2.3% | +3.8% | +10.4% | |
| Q3 2021 | +2.7% | +1.0% | -0.5% | |
| Q2 2021 | +0.2% | -1.8% | -0.5% | |
| Q1 2021 | +1.5% | +2.0% | -4.1% | |
| Q4 2020 | -4.1% | -2.5% | +3.5% | |
| Q3 2020 | +0.1% | +11.1% | -3.2% | |
| Q2 2020 | +5.7% | +5.5% | -7.6% | |
| Q1 2020 | +7.5% | +2.4% | +6.6% | |
| Q4 2019 | -6.4% | -7.2% | -6.5% | |
| Q3 2019 | -6.1% | -10.4% | -11.5% | |
| Q2 2019 | +1.3% | +1.7% | +3.8% | |
| Q1 2019 | -2.3% | +0.3% | +5.3% | |
| Q4 2018 | +0.8% | +4.3% | +1.2% | |
| Q3 2018 | +3.3% | +4.6% | +1.6% | |
| Q2 2018 | -0.0% | +0.5% | +2.7% | |
| Q1 2018 | -1.9% | -2.0% | -1.3% | |
| Q4 2017 | -4.4% | -6.9% | -1.8% | |
| Q3 2017 | +4.1% | +0.2% | +3.4% | |
| Q2 2017 | +2.0% | +1.0% | -1.2% | |
| Q1 2017 | -4.3% | -5.4% | -7.9% | |
| Q4 2016 | +0.3% | +1.1% | -2.0% | |
| Q3 2016 | +3.8% | +1.6% | +6.1% | |
| Q2 2016 | -2.0% | -3.8% | -4.5% | |
| Q1 2016 | +1.7% | — | — | |
| Q4 2015 | +3.2% | — | — | |
| Q3 2015 | -4.5% | — | — | |
| Q2 2015 | -2.5% | — | — | |
| Q1 2015 | -4.6% | — | — | |
| Q4 2014 | -0.7% | — | — | |
| Q3 2014 | -1.1% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | -1.8% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -0.7% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q4 2012 | +4.0% | — | — | |
| Q3 2012 | -1.0% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -5.4% | — | — | |
| Q2 2011 | +2.3% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q2 2010 | -1.5% | — | — | |
| Q1 2010 | -0.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro