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Southwest Gas' Fourth-Quarter Earnings & Revenues Miss Estimates
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Key Takeaways
Southwest Gas posted Q4 EPS of $1.36, missing estimates and slipping from last year.
SWX ended 2025 with $576.6M in cash and reduced long-term debt to $3.43B.
SWX guides 2026 EPS of $4.17-$4.32 and projects $1.25B in capital spending.
Southwest Gas Holdings Inc. (SWX - Free Report) recorded fourth-quarter 2025 operating earnings of $1.36 per share, which missed the Zacks Consensus Estimate of $1.40 by 2.9%. The bottom line also decreased from the year-ago quarter’s figure of $1.39.
SWX reported earnings of $3.65 per share for 2025 compared with $3.16 per share in 2024, which reflects a year-over-year increase of 15.5%.
SWX’s Total Revenues
Operating revenues totaled $0.48 billion, which lagged the Zacks Consensus Estimate of $0.58 billion by 17.7%. The top line also declined 62.2% from $1.27 billion reported in the prior-year quarter.
SWX reported total revenues of $1.94 billion for 2025 compared with $5.11 billion in 2024, which reflects a year-over-year decrease of 62%.
Southwest Gas Corporation Price, Consensus and EPS Surprise
Operations and maintenance expenses in 2025 totaled $544.1 million, up 3.3% from the year-ago figure of $526.7 million.
The total operating income in 2025 was $473.9 million, up 16.6% year over year.
Total system throughput in 2025 was 204.69 million dekatherms, down 6.7% from 219.43 million dekatherms reported in 2024.
Southwest Gas’ Financial Highlights
Cash and cash equivalents, as of Dec. 31, 2025, were $576.6 million compared with $314.8 million as of Dec. 31, 2024.
The long-term debt, less current maturities, amounted to $3.43 billion as of Dec. 31, 2025, compared with $3.50 billion as of Dec. 31, 2024.
Southwest Gas’ net cash provided by operating activities for the year ended Dec. 31, 2025, was $0.56 billion compared with $1.36 billion in the year-ago period.
SWX’s 2026 Guidance
Southwest Gas expects its 2026 earnings per share to be in the range of $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.13, lower than the company’s guided range.
The company expects a rate base compound annual growth rate of 9.5-11.5% in the 2026-2030 period.
The capital expenditure is projected at $1.25 billion for 2026, while total capital expenditure for the 2026-2030 timeframe is expected to reach $6.3 billion.
SWX’s Zacks Rank
Southwest Gas currently carries a Zacks Rank #4 (Sell).
ONE Gas, Inc. (OGS - Free Report) reported fourth-quarter 2025 operating earnings per share of $1.48, which beat the Zacks Consensus Estimate of $1.42 by 4%. In the year-ago quarter, the company reported earnings of $1.35.
ONE Gas recorded revenues of $689.4 million, which beat the Zacks Consensus Estimate of $675 million by 2.1%. The top line increased 9.31% from $630.7 million in the prior-year quarter.
Spire Inc. (SR - Free Report) reported first-quarter fiscal 2026 adjusted earnings of $1.77 per share, which beat the Zacks Consensus Estimate of $1.62 by 9.3%. The company’s bottom line also rose 32.1% from $1.34 reported in the year-ago quarter.
Total revenues for the reported quarter were $762.2 million, which surpassed the Zacks Consensus Estimate of $712 million by 7.1%. The top line also climbed 13.9% from $669.1 million in the year-ago quarter.
UGI Corporation (UGI - Free Report) reported fiscal first-quarter 2026 earnings of $1.26 per share, which missed the Zacks Consensus Estimate of $1.50 by 16%. The bottom line also decreased 8.03% from $1.37 per share in the year-ago quarter.
Revenues of $2.08 billion missed the Zacks Consensus Estimate of $2.13 billion by 2.07%. The top line increased 2.61% from the year-ago quarter’s $2.03 billion.
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Southwest Gas' Fourth-Quarter Earnings & Revenues Miss Estimates
Key Takeaways
Southwest Gas Holdings Inc. (SWX - Free Report) recorded fourth-quarter 2025 operating earnings of $1.36 per share, which missed the Zacks Consensus Estimate of $1.40 by 2.9%. The bottom line also decreased from the year-ago quarter’s figure of $1.39.
SWX reported earnings of $3.65 per share for 2025 compared with $3.16 per share in 2024, which reflects a year-over-year increase of 15.5%.
SWX’s Total Revenues
Operating revenues totaled $0.48 billion, which lagged the Zacks Consensus Estimate of $0.58 billion by 17.7%. The top line also declined 62.2% from $1.27 billion reported in the prior-year quarter.
SWX reported total revenues of $1.94 billion for 2025 compared with $5.11 billion in 2024, which reflects a year-over-year decrease of 62%.
Southwest Gas Corporation Price, Consensus and EPS Surprise
Southwest Gas Corporation price-consensus-eps-surprise-chart | Southwest Gas Corporation Quote
Highlights of SWX’s Earnings Release
Operations and maintenance expenses in 2025 totaled $544.1 million, up 3.3% from the year-ago figure of $526.7 million.
The total operating income in 2025 was $473.9 million, up 16.6% year over year.
Total system throughput in 2025 was 204.69 million dekatherms, down 6.7% from 219.43 million dekatherms reported in 2024.
Southwest Gas’ Financial Highlights
Cash and cash equivalents, as of Dec. 31, 2025, were $576.6 million compared with $314.8 million as of Dec. 31, 2024.
The long-term debt, less current maturities, amounted to $3.43 billion as of Dec. 31, 2025, compared with $3.50 billion as of Dec. 31, 2024.
Southwest Gas’ net cash provided by operating activities for the year ended Dec. 31, 2025, was $0.56 billion compared with $1.36 billion in the year-ago period.
SWX’s 2026 Guidance
Southwest Gas expects its 2026 earnings per share to be in the range of $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.13, lower than the company’s guided range.
The company expects a rate base compound annual growth rate of 9.5-11.5% in the 2026-2030 period.
The capital expenditure is projected at $1.25 billion for 2026, while total capital expenditure for the 2026-2030 timeframe is expected to reach $6.3 billion.
SWX’s Zacks Rank
Southwest Gas currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
ONE Gas, Inc. (OGS - Free Report) reported fourth-quarter 2025 operating earnings per share of $1.48, which beat the Zacks Consensus Estimate of $1.42 by 4%. In the year-ago quarter, the company reported earnings of $1.35.
ONE Gas recorded revenues of $689.4 million, which beat the Zacks Consensus Estimate of $675 million by 2.1%. The top line increased 9.31% from $630.7 million in the prior-year quarter.
Spire Inc. (SR - Free Report) reported first-quarter fiscal 2026 adjusted earnings of $1.77 per share, which beat the Zacks Consensus Estimate of $1.62 by 9.3%. The company’s bottom line also rose 32.1% from $1.34 reported in the year-ago quarter.
Total revenues for the reported quarter were $762.2 million, which surpassed the Zacks Consensus Estimate of $712 million by 7.1%. The top line also climbed 13.9% from $669.1 million in the year-ago quarter.
UGI Corporation (UGI - Free Report) reported fiscal first-quarter 2026 earnings of $1.26 per share, which missed the Zacks Consensus Estimate of $1.50 by 16%. The bottom line also decreased 8.03% from $1.37 per share in the year-ago quarter.
Revenues of $2.08 billion missed the Zacks Consensus Estimate of $2.13 billion by 2.07%. The top line increased 2.61% from the year-ago quarter’s $2.03 billion.