Southwest Gas Highlights Non-GAAP Measures and Centuri Impacts

Southwest Gas ( (SWX) ) has shared an announcement.

Southwest Gas Holdings detailed the use of non-GAAP financial measures for the periods ended June 30 and September 30, 2025, explaining adjustments made to arrive at adjusted net income and adjusted net income from continuing operations. For the three and six months ended June 30, 2025, the company reported net income attributable to Southwest Gas Holdings of a $12.9 million loss and $101.0 million profit, respectively, which were adjusted to $38.6 million and $158.0 million to exclude costs tied to the separation and partial divestiture of Centuri, nonrecurring professional fees, non-cash amortization of intangible assets, and tax effects including remeasurement of state deferred income taxes related to the Centuri divestiture. For the three and nine months ended September 30, 2025, income from continuing operations of $4.2 million and $165.0 million was reduced by estimated restatement impacts from tax remeasurement but left unchanged on an adjusted basis, underscoring management’s view that these non-cash, non-recurring tax items should be excluded to better reflect operating performance and to enhance comparability with infrastructure services peers during and after the Centuri IPO and subsequent secondary offerings completed in 2024 and 2025.

The most recent analyst rating on (SWX) stock is a Buy with a $89.00 price target. To see the full list of analyst forecasts on Southwest Gas stock, see the SWX Stock Forecast page.

Spark’s Take on SWX Stock

According to Spark, TipRanks’ AI Analyst, SWX is a Outperform.

Southwest Gas Holdings scores a 74, driven by strong earnings call highlights and attractive valuation metrics. The company’s technical indicators suggest positive momentum, while financial performance shows resilience in profitability and cash generation despite high leverage. The positive sentiment from the earnings call and strategic achievements further bolster confidence in the stock’s future performance.

To see Spark’s full report on SWX stock, click here.

More about Southwest Gas

Southwest Gas Holdings, Inc. operates as a regulated natural gas distribution and related utility infrastructure services company, with exposure to the infrastructure services industry through its former majority-owned subsidiary Centuri. The company’s financial reporting and performance metrics are influenced by its ownership changes in Centuri and associated tax, separation, and professional service costs.

Average Trading Volume: 368,310

Technical Sentiment Signal: Buy

Current Market Cap: $5.81B

For detailed information about SWX stock, go to TipRanks’ Stock Analysis page.