Southwest Gas reports Q2 adjusted EPS 31c, consensus 48c

Reports Q2 revenue $1.18B, consensus $1.2B. “We are especially pleased with our performance at the utility over the first six months of 2024, and we remain on track to exceed the full year 2024 utility net income guidance we previously set, and as such we have raised our outlook by $5M to be in the range of $233M-$243M,” said CEO Karen Haller. “We accomplished this by delivering on our regulatory priorities and our utility optimization efforts…After fully collecting the previously deferred purchased gas costs from the winter of 2022-2023, the Company finished June with nearly $600 million of cash, and we continue to expect very limited capital markets needs through the end of 2026. At Centuri Holdings, we completed a successful initial public offering early in Q2, which resulted in the payoff of $316 million of Centuri’s debt. We remain committed to effectuating a complete separation of Centuri and continue to monitor market conditions.”