Southwest Gas Holdings, Inc. (SWX) Earnings Call Transcripts

Southwest Gas Holdings, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Southwest Gas Holdings, Inc. reported earnings per share (EPS) of $1.91, reflecting a solid start to the year driven by regulatory outcomes and reduced interest expenses. Revenue growth was supported by rate increases in Arizona and continued customer growth, although the pending California rate case impacted first quarter results. Management affirmed their 2026 adjusted EPS guidance of $4.17 to $4.32 and long-term growth of 12% to 14%, indicating confidence in the company's trajectory despite regulatory uncertainties.

Reported metrics

Guidance from management

Management affirmed their 2026 adjusted EPS guidance of $4.17 to $4.32 and long-term growth of 12% to 14%, indicating confidence in future performance despite regulatory uncertainties.

What management said

Yes. I think that's going to -- we're going to get clarity around that as we go through the negotiation process because, again, when we posted the open season, we indicated that we would be open to kind of step up capacity or phased-in capacity. Clearly, there's demand there. And so as we go through the precedent agreement negotiation process, we'll be able to get some clarity around that as part of the next step in ...

Ryan, good question. It's Justin. Yes, we've started that process of working with suppliers around pipe and compression. And so once this most recent open season closed, we immediately reached out to them to kind of think about, hey, depending on what contracts ultimately gets signed, we may need to pivot around some of the design elements of the project. And so we're working very closely with our supply chain folks ...

What analysts pressed on

Analysts expressed concerns regarding the timing and impact of the California rate case decision, as well as the potential for increased capital requirements if demand for the Great Basin expansion exceeds current projections. There is also apprehension about how regulatory changes might affect future margins and capital expenditures.

Main topics on the call

• California Rate Case Update — Management indicated that while the final decision on the California rate case has been delayed, they expect no impact on full year 2026 results due to an approved memorandum account that preserves earnings benefits. Jus...
• Strong Customer Growth — The company reported a net customer growth of 1% over the past 12 months, with management noting that this growth remains strong despite a modest slowdown in Southern Nevada. The projected population growth in Arizona an...
• Great Basin Expansion Project — The recent open season for the Great Basin expansion project was oversubscribed, with bids totaling 2.5 billion cubic feet per day, nearly 8x the available capacity. Management is optimistic about converting this interes...
• Affirmed Financial Guidance — Management affirmed their 2026 adjusted EPS guidance of $4.17 to $4.32 and long-term growth of 12% to 14%. They emphasized that earnings growth is expected to be front-end loaded through 2028 and 2029 as the Great Basin ...

Read the full Southwest Gas Holdings, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 Southwest Gas Holdings, Inc. earnings call transcripts on record, spanning February 27, 2020 to August 5, 2026. Based on this history, Southwest Gas Holdings, Inc. reports quarterly. The most recent call on file is dated August 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SWX

Exchange

NYSE

Country

US

Sector

Utilities

Industry

Gas Utilities

Calls on record

30

First call

February 27, 2020

Most recent

August 5, 2026

Reporting cadence

quarterly