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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.
Southwest Gas
Southwest Gas
Southwest Gas Revenue by Segment
Revenue by Segment
Natural Gas Distribution Revenue
CapyFin.com 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%.