SWX Q3 continuing ops EPS $0.06; net income $270.5M; Centuri separation complete

Southwest Gas Holdings, Inc.

2025-Q3 EPS reported $5.14

Q3 2025 continuing ops net income $4.2M (EPS $0.06) vs loss $(9.2M) in Q3 2024.
Nine-month 2025 continuing ops net income $165.0M (EPS $2.28) vs $134.1M (EPS $1.87) YoY.
Completed full separation of Centuri via two sell-downs generating ~$879M net proceeds; repaid term loan and bank debt.
S&P upgraded SWX and SWG senior unsecured debt ratings to BBB+ with stable outlook.
Expects 2025 net income toward top end of guidance; plans to file AZ and NV rate cases early 2026.

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