Southwest Gas Holdings reported third quarter 2026 results that exceeded earnings expectations despite a revenue miss. The company achieved critical regulatory milestones, including the completion of rate cases in Nevada and California that combined for approximately $80 million in incremental annual revenue. Management reaffirmed full-year 2026 adjusted EPS guidance of $4.17 to $4.32, supported by a 12-month trailing utility return on equity of 8.0%.
Key Highlights
- Reported adjusted EPS of $0.20 from continuing operations, outperforming the analyst consensus estimate of $0.17.
- Consolidated operating revenue for the quarter was $298.2 million, trailing the projected $346.5 million estimate.
- Completed general rate cases in Nevada and California, securing $48 million and $32.6 million in annual revenue increases, respectively.
- Updated the Great Basin 2028 expansion project cost estimate to $2.3 billion, reflecting robust demand with binding agreements for 1 Bcf per day of capacity.