Southwest Gas (SWX) Tops Q2 EPS by 11c

Southwest Gas (NYSE: SWX) reported Q2 EPS of $0.44, $0.11 better than the analyst estimate of $0.33.

Commenting on Southwest Gas Holdings' performance, John P. Hester, President and Chief Executive Officer, said: "We are pleased to report earnings per share of $0.44 for the second quarter of 2018, an increase from $0.38 per share for the second quarter of 2017. Our construction services segment results rose $11 million between quarters primarily due to a higher volume of work and a $9 million change order settlement associated with a water pipe replacement project. Centuri\'s revenues over the past twelve months reached a record $1.4 billion. The natural gas segment added 33,000 net new customers over the past twelve months; however, quarterly results declined due to higher operations and maintenance expenses and net interest deductions.

In May we filed a general rate case for our Nevada operations. The requested revenue increase of $32.5 million includes $18.1 million associated with Gas Infrastructure Replacement projects previously approved by the Nevada commission. We expect a final decision and new rates to become effective by January 1, 2019."

For earnings history and earnings-related data on Southwest Gas (SWX) click here.

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