Southwest Gas reports 2022 adjusted EPS $3.00; completes MountainWest sale for $1.5B; plans Centuri spin-off

Southwest Gas Holdings, Inc.

2022-FY EPS reported -$3.10 revenue$4,960,009,000

Consolidated net loss of $203.3M ($3.10 diluted loss per share); adjusted net income $196.6M ($3.00 adjusted diluted EPS) vs $4.00 in 2021.
Sale of MountainWest to Williams closed Feb 14, 2023 for $1.5B enterprise value; proceeds used for debt reduction.
Board approved spin-off of Centuri into independent public company expected Q4 2023/Q1 2024, tax-free to stockholders.
Natural gas distribution segment 2023 net income guidance $205-215M; capital expenditures $665-685M.
Arizona general rate case finalized with $54.3M revenue increase, largest in company history, effective Feb 1, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Southwest Gas Holdings, Inc. reported the fourth quarter of 2022 results: net income $281 million, EPS $(4.18) per diluted share. Guidance initiated.

Period: the fourth quarter of 2022
Net income: $281 million
EPS: $(4.18) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

For the fourth quarter of 2022, consolidated net loss was $281 million, or $(4.18) per diluted share, and adjusted net income was $78.0 million, or $1.16 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Southwest Gas Holdings, Inc. reported the twelve months ended December 31, 2022 results: net income $203.3 million, EPS $3.10 per diluted share. Guidance initiated.

Period: the twelve months ended December 31, 2022
Net income: $203.3 million
EPS: $3.10 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

• Consolidated net loss of $3.10 per diluted share (and adjusted consolidated net income of $3.00 per diluted share) for 2022, compared to consolidated net income of $3.39 per diluted share (and adjusted consolidated earnings of $4.00 per diluted share) for 2021. • Consolidated net loss of $203.3 million (and adjusted consolidated net income of $196.6 million) for 2022, compared to a consolidated net income of $200.8 million (and adjusted consolidated net income of $237 million) in 2021.

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Source: SEC EDGAR

accession 0001692115-23-000054

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