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Southwest Gas Q1 Earnings Beat Estimates, Revenues Decline Y/Y
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Key Takeaways
Southwest Gas posted Q1 operating EPS of $1.91, beating estimates and rising 15.76% y/y.
SWX revenues fell 21.61% y/y, while operating expenses declined 31.34%.
Southwest Gas expects 2026 EPS of $4.17-$4.32 and plans $1.25B in capital spending this year.
Southwest Gas Holdings Inc. (SWX - Free Report) recorded first-quarter 2026 operating earnings of $1.91 per share, which beat the Zacks Consensus Estimate of $1.88 by 1.60%. The bottom line increased 15.76% from the year-ago quarter.
SWX’s Total Revenues
Operating revenues totaled $585.1 million, which lagged the Zacks Consensus Estimate of $737 million by 20.62%. The top line also decreased 21.61% from $746.4 million in the prior-year quarter.
Southwest Gas Corporation Price, Consensus and EPS Surprise
Total operating expenses were $365.8 million, down 31.34% year over year.
Total operating income was $219.3 million, up 2.63% from $213.7 million in the year-ago quarter.
Total system throughput in the first three months of 2026 was 63.85 million dekatherms, down 12.68% from 73.12 million dekatherms in the same period of 2025.
Southwest Gas’ Financial Highlights
As of March 31, 2026, SWX had cash and cash equivalents of $484.8 million compared with $576.6 million as of Dec. 31, 2025.
Long-term debt, less current maturities, amounted to $3.43 billion as of March 31, 2026, a tad higher than the 2025-end levels.
Southwest Gas’ net cash provided by operating activities in the first three months of 2026 was $162.1 million compared with $291.3 million in the year-ago period.
SWX’s 2026 Guidance
Southwest Gas expects its 2026 earnings per share to be $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.27, higher than the mid-point of 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 2026-2030 is expected to reach $6.3 billion.
Atmos Energy (ATO - Free Report) is scheduled to report second-quarter fiscal 2026 results on May 6. The Zacks Consensus Estimate for ATO’s fiscal second-quarter EPS is pegged at $3.37, implying an increase of 11.22% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal second-quarter sales is pinned at $2.24 billion, which suggests year-over-year growth of 14.77%.
UGI Corporation (UGI - Free Report) is set to report second-quarter fiscal 2026 results on May 6. The Zacks Consensus Estimate for UGI’s fiscal second-quarter EPS is pegged at $2.27, indicating an increase of 2.71% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal second-quarter sales is pinned at $3.13 billion, which suggests year-over-year growth of 17.35%.
MDU Resources Group, Inc. (MDU - Free Report) is scheduled to report first-quarter 2026 results on May 7. The Zacks Consensus Estimate for MDU’s first-quarter EPS is pegged at 42 cents, suggesting an increase of 5% from the prior-year reported figure.
The Zacks Consensus Estimate for first-quarter sales is pinned at $702.32 million, which suggests year-over-year growth of 4.08%.
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Southwest Gas Q1 Earnings Beat Estimates, Revenues Decline Y/Y
Key Takeaways
Southwest Gas Holdings Inc. (SWX - Free Report) recorded first-quarter 2026 operating earnings of $1.91 per share, which beat the Zacks Consensus Estimate of $1.88 by 1.60%. The bottom line increased 15.76% from the year-ago quarter.
SWX’s Total Revenues
Operating revenues totaled $585.1 million, which lagged the Zacks Consensus Estimate of $737 million by 20.62%. The top line also decreased 21.61% from $746.4 million in the prior-year quarter.
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
Total operating expenses were $365.8 million, down 31.34% year over year.
Total operating income was $219.3 million, up 2.63% from $213.7 million in the year-ago quarter.
Total system throughput in the first three months of 2026 was 63.85 million dekatherms, down 12.68% from 73.12 million dekatherms in the same period of 2025.
Southwest Gas’ Financial Highlights
As of March 31, 2026, SWX had cash and cash equivalents of $484.8 million compared with $576.6 million as of Dec. 31, 2025.
Long-term debt, less current maturities, amounted to $3.43 billion as of March 31, 2026, a tad higher than the 2025-end levels.
Southwest Gas’ net cash provided by operating activities in the first three months of 2026 was $162.1 million compared with $291.3 million in the year-ago period.
SWX’s 2026 Guidance
Southwest Gas expects its 2026 earnings per share to be $4.17-$4.32. The Zacks Consensus Estimate is pegged at $4.27, higher than the mid-point of 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 2026-2030 is expected to reach $6.3 billion.
SWX’s Zacks Rank
Southwest Gas currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Atmos Energy (ATO - Free Report) is scheduled to report second-quarter fiscal 2026 results on May 6. The Zacks Consensus Estimate for ATO’s fiscal second-quarter EPS is pegged at $3.37, implying an increase of 11.22% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal second-quarter sales is pinned at $2.24 billion, which suggests year-over-year growth of 14.77%.
UGI Corporation (UGI - Free Report) is set to report second-quarter fiscal 2026 results on May 6. The Zacks Consensus Estimate for UGI’s fiscal second-quarter EPS is pegged at $2.27, indicating an increase of 2.71% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal second-quarter sales is pinned at $3.13 billion, which suggests year-over-year growth of 17.35%.
MDU Resources Group, Inc. (MDU - Free Report) is scheduled to report first-quarter 2026 results on May 7. The Zacks Consensus Estimate for MDU’s first-quarter EPS is pegged at 42 cents, suggesting an increase of 5% from the prior-year reported figure.
The Zacks Consensus Estimate for first-quarter sales is pinned at $702.32 million, which suggests year-over-year growth of 4.08%.