Southwest Gas Q3 Earnings Miss Estimates, Revenues Decrease Y/Y

Southwest Gas Holdings Inc. SWX recorded third-quarter 2025 operating earnings of 6 cents per share, which missed the Zacks Consensus Estimate of 9 cents by 33.3%. The bottom line also decreased from the year-ago quarter’s figure of 9 cents.

SWX’s Total Revenues

Operating revenues totaled $0.32 billion, which lagged the Zacks Consensus Estimate of $0.37 billion by 14.5%. The top line also declined 70.6% from $1.08 billion reported in the prior-year quarter.

Highlights of SWX’s Q3 Earnings Release

Operations and maintenance expenses totaled $134.8 million, up 3% from the year-ago quarter’s level of $130.9 million.

The total operating income amounted to $37 million, up 83.9% from $20.1 million in the year-ago quarter.

Total system throughput in the first nine months of 2025 was 159.81 million dekatherms, down 4.1% from 166.63 million dekatherms reported in the first nine months of 2024.

Southwest Gas’ Financial Highlights

Cash and cash equivalents, as of Sept. 30, 2025, were $778.6 million compared with $314.8 million as of Dec. 31, 2024.

The long-term debt, less current maturities, amounted to $3.51 billion as of Sept. 30, 2025 compared with $3.50 billion as of Dec. 31, 2024.

Southwest Gas’ net cash provided by operating activities in the first nine months of 2025 was $0.47 billion compared with $1.15 billion in the year-ago period.

SWX’s 2025 Guidance

Southwest Gas continues to anticipate the Natural Gas Distribution segment’s net income in 2025 in the range of $265-$275 million. The capital expenditure is expected to be $880 million for supporting customer growth, system improvements and pipe replacement programs.

Capital expenditures are expected to be $4.3 billion for the 2025-2029 period.

SWX’s Zacks Rank

Southwest Gas currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

An Upcoming Release

New Jersey Resources Corporation NJR is slated to report fourth-quarter fiscal 2025 results on Nov. 19, after market close.

The Zacks Consensus Estimate for sales stands at $303.1 million. The Zacks Consensus Estimate for earnings is pegged at 16 cents per share.

Recent Releases

ONE Gas, Inc. OGS reported third-quarter 2025 operating earnings per share (EPS) of 44 cents, in line with the Zacks Consensus Estimate. The figure was 29.4% higher than the year-ago quarter’s earnings of 34 cents.

ONE Gas recorded revenues of $379.1 million, which missed the Zacks Consensus Estimate of $383 million by 0.9%. However, the top line increased 11.4% from $340.4 million in the prior-year quarter. 

Sempra Energy SRE reported third-quarter 2025 adjusted EPS of $1.11, which beat the Zacks Consensus Estimate of 93 cents by 19.4%. The bottom line also rose 24.7% from the year-ago quarter’s figure of 89 cents.

Sempra Energy’s total revenues of $3.15 billion missed the Zacks Consensus Estimate of $3.22 billion by 2.2%. However, the top line increased 13.3% from $2.78 billion in the year-ago quarter.

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This article originally published on Zacks Investment Research (zacks.com).

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