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Jun 30, 2024
Southwest Gas Q2 2024 Earnings Report
Reported second quarter utility earnings growth of 44.5% and successfully executed Centuri IPO.
Key Takeaways
Southwest Gas Holdings, Inc. reported second quarter 2024 consolidated net income of $18.3 million, or $0.25 per diluted share, and adjusted consolidated net income of $22.5 million, or $0.31 per diluted share. The utility reported second quarter 2024 net income of $27.6 million.
Delivered second quarter utility earnings growth of 44.5%.
Margin improvement from Nevada Rate Case outcome.
Centuri IPO successfully executed; net proceeds used to reduce Centuri debt.
Raised utility net income guidance by $5 million to be in the range of $233 to $243 million.
Revenue by Segment
Forward Guidance
The Company has updated its net income guidance and re-affirmed its forward-looking guidance for Southwest.
Positive Outlook
- 2024 Southwest net income guidance of $233 - $243 million.
- 2024 Capital expenditures in support of customer growth, system improvements, and pipe replacement programs of ~$830 million.
- 2024 - 2026 Southwest adjusted net income CAGR of 9.25% - 11.25%.
- 2024 - 2026 Capital expenditures of $2,400 million.
- 2024 - 2026 Southwest rate base CAGR of 6.5% - 7.5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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