Southwest Gas Q2 2023: adjusted EPS $0.47 vs $0.23 YoY; utility net income $19.1M, Centuri revenue $806M record

Southwest Gas Holdings, Inc.

2023-Q2 EPS reported -$3.18 revenue$5,443,429,000

Consolidated net earnings of $0.40 per diluted share; adjusted earnings $0.47 per diluted share, up from $0.23 adjusted in Q2 2022.
Utility net income $19.1M vs loss $2.3M YoY; Centuri net income $18.8M vs $4.7M YoY on record $806M revenue (+14%).
Reaffirmed 2023 utility net income guidance $205-215M and Centuri revenue guidance $2.8-3.0B with EBITDA margin 9.5-11%.
Centuri spin-off: ACC approval received, draft Form 10 submitted to SEC; completion expected end of Q1 2024 pending IRS ruling.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Southwest Gas Holdings, Inc. reported second quarter 2023 results: EPS consolidated net earnings of $0.40 per diluted share.

Period: second quarter 2023
EPS: consolidated net earnings of $0.40 per diluted share
Result: reported results

Exact text from the filing

Southwest Gas Holdings, Inc. Reports Second Quarter 2023 Financial Results

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Southwest Gas Holdings, Inc. updated its 2023 guidance (raised).

Period: 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Reaffirming 2023 Utility Earnings Guidance and 2023 Centuri Revenue and EBITDA Margin Guidance

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Southwest Gas Holdings, Inc. updated its 2023 guidance (raised).

Period: 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Increasing 2023 capital expenditures guidance to $700 - $720 million in support of customer growth, system improvements, and pipe replacement programs

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Southwest Gas Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001692115-23-000131

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