Southwest Gas Holdings Revises Financial Statements
In a regulatory filing, the company stated, "Southwest Gas Holdings is filing this Current Report on Form 8-K to report the Audit Committee of the Board of Directors of the company's conclusion that the company's unaudited Condensed Consolidated Financial Statements as of June 30, 2025 and September 30, 2025, and for the three and six months ended June 30, 2025 and three and nine months ended September 30, 2025 should no longer be relied upon, as discussed further below. In connection with the preparation of the company's upcoming Annual Report on Form 10-K for the year ended December 31, 2025, management identified errors related to the estimated deferred income tax liabilities for state income taxes. The errors do not impact the company's previously communicated guidance metrics. The company reaffirms its guidance for 2025 net income as well as the expected compound annual growth rates for Southwest Gas Corporation net income and rate base for the 2025-2029 period. The company does not expect any impact on previously reported operating margin, cash flows, credit metrics, historical state income tax returns, cash income taxes paid, nor compliance with debt covenants for any previous interim periods or years related to these errors. The company expects that there will be a de minimis effect on annual cash income tax payments in future years. The issues result from not timely updating estimated apportionment rates to reflect certain events. For Southwest Gas Corporation, the errors date back to the formation of Southwest Gas Holdings in 2017, when Southwest Gas Corporation and Centuri Holdings became wholly-owned subsidiaries of Southwest Gas Holdings. These errors were determined to be not material to any previously issued Southwest Gas Corporation financial statements. Although these financial statements can still be relied upon, Southwest Gas Corporation plans to revise the historical financial statements due to the cumulative effect of correcting the deferred income tax error in the 2025 Form 10-K. For the company, the errors arose following the company's sale of shares of Centuri's common stock in the second and third quarters of 2025, which resulted in the tax deconsolidation of Centuri."
Trade with 70% Backtested Accuracy
Analyst Views on SWX
About SWX
About the author
Southwest Gas Holdings to Host Earnings Conference Call
- Earnings Call Schedule: Southwest Gas Holdings will hold its fourth quarter and full year earnings conference call on February 25, 2026, at 12:00 PM ET, with the earnings release expected to significantly impact investor sentiment.
- Live Webcast and Replay: The call will be webcast live on the company's website, and for those unable to attend, an archived version will be available, ensuring broad dissemination of information and transparency.
- Telephone Participation Details: Investors can join the call by dialing 800-836-8184 (U.S.) or 646-357-8785 (International), providing multiple access options to cater to diverse investor needs.
- Replay Availability: A digital replay of the call will be accessible until 4:30 PM ET on March 3, 2026, allowing investors to catch up on the discussion and enhancing communication between the company and its stakeholders.
Southwest Gas Holdings to Host Earnings Conference Call
- Earnings Call Scheduled: Southwest Gas Holdings will hold its fourth quarter and full year earnings conference call on February 25, 2026, at 12:00 PM ET, aimed at providing investors and analysts with the latest financial performance and future outlook.
- Live Webcast and Replay: The conference will be webcast live on the company's website, and investors unable to participate in real-time can access a digital replay by dialing the specified numbers, ensuring key information is available to all stakeholders.
- Market Implications: The company will release its earnings report before the market opens, which is expected to influence investor decisions, particularly regarding the company's future strategy and financial health.
- Diverse Participation Options: In addition to the live webcast, investors can join via telephone, offering multiple ways to engage and enhancing communication between the company and its investors.
Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction Recognition: For the second consecutive year, Southwest Gas has been named one of America's Best Mid-Size Companies by TIME, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth Performance: The award is based on survey data from approximately 217,000 employees and three years of revenue growth, demonstrating Southwest Gas's stable performance in revenue growth and sustainability transparency, thereby strengthening its market competitiveness.
- Commitment to Sustainability: Southwest Gas excels in environmental, social, and governance (ESG) metrics, including carbon emissions reduction and board diversity, indicating the company's strong commitment to promoting sustainable development and enhancing its brand image.
- Community Impact Enhancement: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while supporting community growth and development through innovative sustainable energy solutions.
Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction: For the second consecutive year, Southwest Gas Holdings has been recognized as one of America's Best Mid-Size Companies, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth: The company has demonstrated resilience and market competitiveness with over $200 million in annual revenue over the past three years, ensuring its leading position in the industry amidst economic fluctuations.
- Sustainability Transparency: Southwest Gas excels in ESG metrics, including carbon emissions reduction, board diversity, and human rights policies, showcasing its commitment to sustainable development and enhancing its brand image.
- Community Responsibility: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while driving community growth and development through innovative sustainable energy solutions.
As Big Tech Dominates the News, Small-Cap Stocks Are Surging. Can This Momentum Continue?
Tesla's Ambition: Elon Musk predicts that Optimus robots will become the best surgeons on Earth by the end of the decade.
Walmart's Drone Delivery Expansion: Walmart is collaborating with Alphabet to increase aerial drone delivery services to 40 million customers next year, a significant rise from the current two million.
Disney's Theme Park Update: Walt Disney is planning to retheme its Rock ‘n’ Roller Coaster at Hollywood Studios to feature The Muppets, showcasing the company's focus on innovative attractions.
Small-Cap Stocks Performance: There is a notable trend of small-cap stocks outperforming larger ones since mid-November, raising questions about whether this is a temporary phenomenon or the beginning of a longer-term recovery.
Southwest Gas Holdings Upgraded to Buy by Citi with $99 Price Target
- Earnings Guidance Upgrade: Citi upgraded Southwest Gas Holdings from Neutral to Buy with a $99 price target, anticipating EPS growth guidance of approximately 10.4% through 2030, significantly higher than the previous 7% forecast, driven by the Great Basin gas pipeline expansion and regulatory improvements in Arizona and Nevada.
- Business Restructuring Completed: The company has successfully exited its construction business, a strategic move that not only optimizes resource allocation but also enhances overall profitability, thereby strengthening its competitive position in the market.
- Acquisition Potential Analysis: Citi analyst noted that Southwest Gas remains a potential acquisition target; while a deal is unlikely in the near term, it is trading at 1.25x the 2025 rate base, at the low end of the recent gas utilities M&A range, indicating strong acquisition appeal.
- Market Competition Comparison: Southwest Gas currently trades at a discount to MDU Resources, which has rallied on a similar pipeline expansion opportunity, with Citi analysts viewing Southwest as a more attractive investment choice, reflecting market recognition of its future growth potential.
Southwest Gas Holdings to Host Earnings Conference Call
- Earnings Call Schedule: Southwest Gas Holdings will hold its fourth quarter and full year earnings conference call on February 25, 2026, at 12:00 PM ET, with the earnings release expected to significantly impact investor sentiment.
- Live Webcast and Replay: The call will be webcast live on the company's website, and for those unable to attend, an archived version will be available, ensuring broad dissemination of information and transparency.
- Telephone Participation Details: Investors can join the call by dialing 800-836-8184 (U.S.) or 646-357-8785 (International), providing multiple access options to cater to diverse investor needs.
- Replay Availability: A digital replay of the call will be accessible until 4:30 PM ET on March 3, 2026, allowing investors to catch up on the discussion and enhancing communication between the company and its stakeholders.
Southwest Gas Holdings to Host Earnings Conference Call
- Earnings Call Scheduled: Southwest Gas Holdings will hold its fourth quarter and full year earnings conference call on February 25, 2026, at 12:00 PM ET, aimed at providing investors and analysts with the latest financial performance and future outlook.
- Live Webcast and Replay: The conference will be webcast live on the company's website, and investors unable to participate in real-time can access a digital replay by dialing the specified numbers, ensuring key information is available to all stakeholders.
- Market Implications: The company will release its earnings report before the market opens, which is expected to influence investor decisions, particularly regarding the company's future strategy and financial health.
- Diverse Participation Options: In addition to the live webcast, investors can join via telephone, offering multiple ways to engage and enhancing communication between the company and its investors.
Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction Recognition: For the second consecutive year, Southwest Gas has been named one of America's Best Mid-Size Companies by TIME, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth Performance: The award is based on survey data from approximately 217,000 employees and three years of revenue growth, demonstrating Southwest Gas's stable performance in revenue growth and sustainability transparency, thereby strengthening its market competitiveness.
- Commitment to Sustainability: Southwest Gas excels in environmental, social, and governance (ESG) metrics, including carbon emissions reduction and board diversity, indicating the company's strong commitment to promoting sustainable development and enhancing its brand image.
- Community Impact Enhancement: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while supporting community growth and development through innovative sustainable energy solutions.
Southwest Gas Recognized as One of America's Best Mid-Size Companies for 2025
- Employee Satisfaction: For the second consecutive year, Southwest Gas Holdings has been recognized as one of America's Best Mid-Size Companies, reflecting the company's excellence in employee satisfaction and corporate culture, which enhances its attractiveness as an employer.
- Consistent Growth: The company has demonstrated resilience and market competitiveness with over $200 million in annual revenue over the past three years, ensuring its leading position in the industry amidst economic fluctuations.
- Sustainability Transparency: Southwest Gas excels in ESG metrics, including carbon emissions reduction, board diversity, and human rights policies, showcasing its commitment to sustainable development and enhancing its brand image.
- Community Responsibility: The company is dedicated to providing safe and reliable service to over 2 million customers across Arizona, Nevada, and California, while driving community growth and development through innovative sustainable energy solutions.
As Big Tech Dominates the News, Small-Cap Stocks Are Surging. Can This Momentum Continue?
Tesla's Ambition: Elon Musk predicts that Optimus robots will become the best surgeons on Earth by the end of the decade.
Walmart's Drone Delivery Expansion: Walmart is collaborating with Alphabet to increase aerial drone delivery services to 40 million customers next year, a significant rise from the current two million.
Disney's Theme Park Update: Walt Disney is planning to retheme its Rock ‘n’ Roller Coaster at Hollywood Studios to feature The Muppets, showcasing the company's focus on innovative attractions.
Small-Cap Stocks Performance: There is a notable trend of small-cap stocks outperforming larger ones since mid-November, raising questions about whether this is a temporary phenomenon or the beginning of a longer-term recovery.
Southwest Gas Holdings Upgraded to Buy by Citi with $99 Price Target
- Earnings Guidance Upgrade: Citi upgraded Southwest Gas Holdings from Neutral to Buy with a $99 price target, anticipating EPS growth guidance of approximately 10.4% through 2030, significantly higher than the previous 7% forecast, driven by the Great Basin gas pipeline expansion and regulatory improvements in Arizona and Nevada.
- Business Restructuring Completed: The company has successfully exited its construction business, a strategic move that not only optimizes resource allocation but also enhances overall profitability, thereby strengthening its competitive position in the market.
- Acquisition Potential Analysis: Citi analyst noted that Southwest Gas remains a potential acquisition target; while a deal is unlikely in the near term, it is trading at 1.25x the 2025 rate base, at the low end of the recent gas utilities M&A range, indicating strong acquisition appeal.
- Market Competition Comparison: Southwest Gas currently trades at a discount to MDU Resources, which has rallied on a similar pipeline expansion opportunity, with Citi analysts viewing Southwest as a more attractive investment choice, reflecting market recognition of its future growth potential.
