Southwest Gas Corporation (SWX - Free Report) reported breakeven results in third-quarter 2016, missing the Zacks Consensus Estimate of a penny. However, in the year-ago quarter, the company had incurred a loss of 10 cents.
Including the income of 5 cents associated with an increase in the cash surrender values of company-owned life insurance (COLI) policies and recognized net death benefits, GAAP earnings in the reported quarter came in at 5 cents, while in the year-ago period, the company had posted a loss of 10 cents.
Southwest Gas’ total revenue of nearly $540 million beat the Zacks Consensus Estimate of $518 million by 4.2%. Revenues were also up 6.8% from $505.4 million in the prior-year quarter.
In the third quarter, the natural gas segment reported net loss of $12.4 million, 34.4% narrower than the year-ago loss of $18.9 million.
In the quarter under review, the construction services segment reported net income of $14.9 million, up 4.9% from $14.2 million a year ago.
SOUTHWEST GAS Price, Consensus and EPS Surprise
The company plans to invest $470 million in its natural gas segment in 2016. These investments are intended to support customer growth, system improvements and accelerated pipe replacement programs. Operating income is expected to increase in the range of 2% to 3% in 2016.
Construction Services’ operating income is expected to constitute 5% of the total revenue in 2016.Centuri is expected to rake in revenues of $1.1 billion in 2016.
ONE Gas, Inc.’s (OGS - Free Report) third-quarter earnings of 24 cents per share outpaced the Zacks Consensus Estimate of 19 cents by 26.3%.
ONEOK Inc. (OKE - Free Report) reported third-quarter 2016 operating earnings of 44 cents per share, outpacing the Zacks Consensus Estimate of 43 cents by 2.3%.
MDU Resources Group Inc. (MDU - Free Report) reported third-quarter 2016 operating earnings of 45 cents per share, beating the Zacks Consensus Estimate of 43 cents by 4.7%.
Southwest Gas Corporationcarries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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