Southwest Gas ( (SWX) ) has released its Q4 earnings. Here is a breakdown of the information Southwest Gas presented to its investors.
Southwest Gas Holdings, Inc. is a prominent natural gas utility company operating primarily in Arizona, Nevada, and California, known for its commitment to providing safe, reliable, and sustainable energy solutions to over 2 million customers.
In its latest earnings report, Southwest Gas Holdings announced a consolidated net income of $198.8 million for the full year 2024, reflecting an 8% growth in earnings year-over-year. The company also highlighted its strategic progress, including the successful IPO of Centuri Holdings and significant advancements in its utility operations.
Key financial metrics revealed a utility return on equity of 8.1% and an increase in net income driven by effective regulatory strategies and cost management. The company reported a $72.5 million increase in operating margin, supported by customer growth and rate relief across service territories. Additionally, Centuri Holdings saw a notable increase in storm restoration service revenues, although overall revenues declined due to reduced offshore wind projects.
Looking ahead, Southwest Gas Holdings is optimistic about its financial outlook, expecting further improvements from pending rate cases and continued investment in infrastructure. The company remains focused on its transformation into a pure-play natural gas utility, with plans to exit its interest in Centuri Holdings.
Southwest Gas Holdings’ management is confident in delivering on its commitments to stakeholders and supporting community growth, driven by strategic investments and operational excellence.