---
schema_version: "secwatch.filing_event.v1"
accession: "0001692115-25-000147"
form_type: "8-K"
ticker: "SWX"
cik: "0001692115"
company_name: "Southwest Gas Holdings, Inc."
filed_at: "2025-11-05T23:59:59+00:00"
generated_at: "2026-05-17T00:19:45.705584+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001692115-25-000147
- form_type: 8-K
- ticker: SWX
- cik: 0001692115
- company_name: Southwest Gas Holdings, Inc.
- filed_at: 2025-11-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692115/000169211525000147/0001692115-25-000147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92416/000169211525000147/swx-20251105.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001692115-25-000147
- JSON: https://secwatch.observer/filing/0001692115-25-000147.json
- Plain text: https://secwatch.observer/filing/0001692115-25-000147.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.