Wed, Feb 26, 1:13 PM (59 days ago)
**Summary of Southwest Gas Holdings, Inc. (SWX) Financial Performance for FY 2024** Southwest Gas Holdings, Inc. reported strong financial performance for the fiscal year ended December 31, 2024, with net income of $198.8 million, up from $150.9 million in 2023. Revenues totaled $5.1 billion, driven by a robust natural gas distribution segment, which contributed $2.5 billion, and utility infrastructure services generating $2.6 billion. Operating margin increased to $1.3 billion, reflecting successful rate relief initiatives and customer growth, including 41,000 new meter sets. Operating expenses were $4.6 billion, primarily due to the net cost of gas sold ($1.15 billion) and utility infrastructure expenses ($2.4 billion). Earnings per share rose to $2.77 from $2.13. Strategically, the company completed the IPO of its utility infrastructure subsidiary, Centuri, raising approximately $328 million. This move aligns with a simplification strategy, enabling Southwest Gas to focus on core operations. Risks include regulatory changes affecting rate structures and inflation impacting operating costs. The company maintains a strong financial condition with liquidity bolstered by cash reserves of $363.8 million. The outlook remains positive, with ongoing investments in infrastructure and regulatory support anticipated to drive growth.