Asia FX dithers as dollar steadies before Powell speech; yen muted after CPI data
LAS VEGAS - Southwest Gas Holdings, Inc. (NYSE:SWX) reported first quarter 2025 earnings that exceeded analyst expectations, sending shares up 3.7% in response.
The natural gas utility posted adjusted earnings per share of $1.65, beating the consensus estimate of $1.42. Revenue came in at $1.3 billion, below the $1.53 billion analysts were expecting.
Southwest Gas saw its net income increase to $113.9 million in Q1, up from $87.7 million in the same period last year. The company said the improvement was primarily driven by higher operating margin at its utility business and improved performance at its Centuri infrastructure services segment.
"We continue to make great progress on our overall regulatory strategy," said CEO Karen Haller. She noted the company recently received approval for an $80.2 million annual revenue increase from its completed Arizona rate case.
The utility segment added approximately 40,000 new meter sets over the past 12 months, leading to 1.8% customer growth. Southwest Gas reaffirmed its 2025 net income guidance of $265-$275 million for the utility business.
The company said it remains committed to fully separating its Centuri infrastructure services business, stating it continues to evaluate market conditions and separation options.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.