Research Reports

Key takeaways

Operating income increased 9.4% to $219.3M from $200.4M, reflecting timing and amount of updated rates to align with cost of service and capital investments.

Net income rose 21.5% to $138.4M from $113.9M as core utility operations delivered earnings growth.

Diluted EPS grew 20.9% to $1.91 from $1.58, underscoring per-share profitability improvement.

Net cash from operating activities was $162.1M, down from $291.3M due to increased outflows for capital expenditures and property additions.

Capital expenditures rose to $208.7M from $187.5M to support ongoing infrastructure replacement activities.

Free cash flow was -$46.6M, resulting from operating cash flow less elevated capital spending commitments.

Great Basin completed an open season in April 2026 for 2028 expansion project capacity.

Full analysis

Southwest Gas Holdings, Inc. reported robust Q1 2026 results, with operating income reaching $219.3 million, a 9.4% increase from $200.4 million in the prior year. This improvement aligns with management's commentary that principal factors affecting operating margin include the timing and amount of updated rates, designed to better align with the company's cost of service and capital investments, including infrastructure trackers, alongside customer growth. Net income advanced 21.5% to $138.4 million from $113.9 million, and diluted EPS climbed 20.9% to $1.91 from $1.58, reflecting the strength of regulated utility operations post-Centuri divestiture.

SWX · Southwest Gas Holdings, Inc.

Summary

Key takeaways

Full analysis