Q2 2026 Southwest Gas Holdings Inc Earnings Call Transcript

Aug 5, 2026 / 03:00 PM GMT

Release Date Price: $90.67 (+1.82%)

Transcript 10-Q8-K

Key Points

Positve

Adjusted EPS from continuing operations increased to $0.45 in Q2 2026, up from $0.37 in Q2 2025, driven by strong Holdco performance and lower interest expense.
Regulatory strategy is advancing across all three jurisdictions, with California's recent decision providing approximately $40 million in incremental annual revenue and Nevada's case progressing toward an October 2026 effective date.
Great Basin's 2028 expansion project has secured approximately 1 Bcf/d of contracted demand, with a revised 48-inch pipeline design expected to generate $270-$300 million in incremental annual margin.
Strong balance sheet with approximately $270 million in cash, nearly $1 billion in available liquidity, and no outstanding Holdco debt, providing financial flexibility.
Reaffirmed 2026 and long-term guidance, with expectations of no equity issuances in 2026 and only modest equity needs through 2030, supported by holding company leverage capacity.

Negative

Utility earnings were slightly lower in Q2 2026, driven by lower other income, including reduced interest income and weaker pension and investment performance.
Nevada rate case faces potential reduction, with intervenor testimony recommending an average revenue increase of just under $40 million, or about 52% of the company's request.
The expanded Great Basin project now requires approximately $2.3 billion in capital, a $600 million increase, which has not yet been incorporated into long-term guidance.
Regulatory uncertainty persists, particularly in California where the cost of capital decision is still pending, and in Arizona where the rate case is still in early stages.
Other income declined by $9.4 million in Q2 2026, reflecting lower interest income, weaker investment performance, and the absence of a prior year gain on sale.

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

SWX.N - Southwest Gas Holdings, Inc.
Q2 2026 Southwest Gas Holdings Inc Earnings Call
Aug 05, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Southwest Gas Holdings second quarter 2026 earnings conference call, today's call is being recorded and our webcast is live.

A replay will be available later today and for the next 12 months on the Southwest Gas Holdings website.

All participants are currently in a listen-only mode.

A question-and-answer session will follow the prepared remarks.

If you would like to ask a question at that time, please press the number 1 on your telephone keypad.

If you would like to withdraw your question, press 2.

I will now turn the call over to Tyler Frannick, Manager of Investor Relations of Southwest Gas Holdings.

Thank you, Joanna, and hello everyone, we

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