Southwest Gas (SWX) Tops Q1 EPS by 11c, Revenues Miss

Southwest Gas (NYSE: SWX) reported Q1 EPS of $2.03, $0.11 better than the analyst estimate of $1.92. Revenue for the quarter came in at $885.91 million versus the consensus estimate of $956.12 million.

Commenting on Southwest Gas Holdings' performance, John P. Hester, President and Chief Executive Officer, said: "We are pleased with our first quarter financial results of $2.03 per diluted share. In our utility business, we're realizing the rate relief from multiple concluded general rate cases; and impressively over the past year, Southwest's Arizona, California, and Nevada territories have all experienced significant growth, driving increased demand for new homes, and natural gas service generally. The communities we serve are also rebounding from the restrictions placed on them throughout the pandemic. It is exciting to see restaurants, resorts, events, businesses, and family life flourishing again throughout our service territory.

"Our infrastructure services business also performed well, as we supported customers restoring their above-ground infrastructure and critical services following winter storms, particularly in Texas. Centuri stands poised and committed to help its regulated utility customers continue to build and modernize North America's energy infrastructure that is necessary to efficiently, safely, and reliably address energy demand, affordability, and sustainability."

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

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