Southwest Gas reports Q1 Cont. Ops. EPS $1.91 vs. $1.86 last year

Reports Q1 revenue $585.12M vs. $746.42M last year. “Today, we reported solid Q1 results, driven by continued growth and last year’s constructive rate case outcome authorizing recovery of the investments we made in Arizona to serve our customers, and significantly lower interest expense due to the payoff of previously outstanding corporate and administrative debt,” said Karen Haller, President and CEO of Southwest Gas (SWX) Holdings. “We began the year by making meaningful progress on our strategic priorities, including the filing of two general rate cases in our largest jurisdictions. In Arizona, we filed a general rate case requesting a formula rate mechanism. In Nevada, we submitted a general rate case and look forward to the Public Utilities Commission of Nevada’s final order on the rulemaking process that will define the state’s alternative ratemaking framework. While the delayed California rate case decision negatively affected reported first quarter earnings, the previously authorized memorandum account we use to track the impacts of the delayed decision gives us confidence to affirm our full-year earnings guidance.”