Q2 2025 Southwest Gas Holdings Inc Earnings Call Transcript

Aug 6, 2025 / 03:00 PM GMT

Release Date Price: €67.5 (-1.46%)

Transcript 10-Q8-K

Key Points

Positve

Southwest Gas Holdings Inc (SWX) achieved a trailing 12-month return on equity of 8.3%, showing improvement from previous years.
The company posted record net income for the first half of 2025, with only modest increases in operating and maintenance expenses.
Successful execution of two secondary public offerings of Century shares generated over $470 million in net proceeds, which were used to repay debt and strengthen the balance sheet.
The Great Basin expansion project received significant interest, with potential capital expenditures estimated between $1.2 billion to $1.6 billion.
The company has more than $350 million of cash on hand and over $1 billion in liquidity, supporting its 2025 strategic initiatives.

Negative

Higher operating and maintenance expenses were reported, largely due to increased labor costs.
Interest costs rose, driven by the PGA liability balances at the utility.
The Arizona system integrity mechanism was capped at $50 million, which may limit capital recovery.
The company faces regulatory challenges, including the need to address the $50 million cap in Arizona and the timing of Nevada's rulemaking process.
There is uncertainty surrounding the completion of the separation of Century, which could impact financial strategy and execution.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SWX.N - Southwest Gas Holdings Inc
Q2 2025 Southwest Gas Holdings Inc Earnings Call
Aug 06, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Southwest Holdings 2nd quarter 2025 earnings conference call. Today's call is being recorded on our webcast is live.

A replay will be available later today and for the next 12 months on the Southwest Guest Holdings website. All participants are currently in a listen on mode. A question and answer session will follow.

After the prepared remarks.

If you would like to ask a question at that time, please press start, then the number one on your phone.

I will now turn the call over to Justin Forsberg, Vice President of investor relations and treasurer of Southwest Householdings. Please go ahead.

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