Southwest Gas (SWX) Tops Q3 EPS by 8c, Revenues Beat

Southwest Gas (NYSE: SWX) reported Q3 EPS of $0.32, $0.08 better than the analyst estimate of $0.24. Revenue for the quarter came in at $791.23 million versus the consensus estimate of $712.65 million.

Commenting on Southwest Gas Holdings' performance, John P. Hester, President and Chief Executive Officer, said: "We're very pleased to realize earnings per share of $0.32 for the third quarter of 2020, a notably higher year-on-year quarterly result for Southwest Gas Holdings. Our results reflected a solid performance by our Centuri infrastructure services segment, as it responded to growing core customer demands, and as it provided emergency restoration services to its electric customers following regional storms in the Gulf Coast and eastern United States. Meanwhile, in our regulated utility operations, we continued to efficiently manage the impacts of COVID-19, by controlling costs, capitalizing on strong regional growth, and ensuring our 2 million plus customer base continues to enjoy the safe, reliable, and economic gas distribution service they've come to expect from Southwest Gas.

"Looking forward, we're excited to have refreshed rates from our recently concluded Nevada general rate case proceeding, and anticipate a decision in our pending Arizona general rate case proceeding by year end. Additionally, customer growth continues to be robust, including as we make significant infrastructure installation progress supporting our service territory expansions in both southern (Mesquite) and northern (Spring Creek) Nevada."

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

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