Southwest Gas Corporation (SWX - Free Report) reported second-quarter 2017 operating earnings of 37 cents beating the Zacks Consensus Estimate of 28 cents. Moreover, reported earnings were higher the year-ago figure of 19 cents by 94.7%.
Total Revenue
Southwest Gas’ total revenue of $560.5 million missed the Zacks Consensus Estimate of $589 million by 4.8%. However, revenues were up 2.3% from $547.7 million in the prior-year quarter.
Quarterly Highlights
Southwest Gas’ total operating margin was pegged at $190.7 million, up 3.5% from $184.2 million a year ago.
Net cost of gas sold during the quarter amounted to $69.4 million, down 2.8% from $71.4 million a year ago.
Net interest deductions increased $430,000 between quarters primarily due to issuance of $300 million of senior notes. This was partially offset by reductions associated with various debt redemptions during the past twelve months and lower interest expense associated with PGA balances as compared with the prior-year quarter.
Southwest Gas Corporation Price, Consensus and EPS Surprise
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Southwest Gas Corporation (SWX - Free Report) reported second-quarter 2017 operating earnings of 37 cents beating the Zacks Consensus Estimate of 28 cents. Moreover, reported earnings were higher the year-ago figure of 19 cents by 94.7%.
Total Revenue
Southwest Gas’ total revenue of $560.5 million missed the Zacks Consensus Estimate of $589 million by 4.8%. However, revenues were up 2.3% from $547.7 million in the prior-year quarter.
Quarterly Highlights
Southwest Gas’ total operating margin was pegged at $190.7 million, up 3.5% from $184.2 million a year ago.
Net cost of gas sold during the quarter amounted to $69.4 million, down 2.8% from $71.4 million a year ago.
Net interest deductions increased $430,000 between quarters primarily due to issuance of $300 million of senior notes. This was partially offset by reductions associated with various debt redemptions during the past twelve months and lower interest expense associated with PGA balances as compared with the prior-year quarter.
Southwest Gas Corporation Price, Consensus and EPS Surprise
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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