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%.
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.
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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