Southwest Gas Holdings, Inc. — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 58/100
What the filing says
Southwest Gas Holdings reported Q3 2026 continuing operations net income of $12.8M ($0.18 EPS) vs. loss of $3.7M in Q3 2025. Nevada and California rate cases concluded with combined $80M annual revenue increases (Nevada ~$48M effective Oct 2026 at 9.5% ROE; California $32.6M effective Jan 2026 at 10% ROE). Arizona rate case hearing scheduled Dec 2026 with Staff recommending $58M incremental annual revenue at 9.75% ROE. Great Basin 2028 expansion project (1 Bcf/day contracted, $2.3B estimated investment) filing FERC CPCN by year-end 2026, targeting Q4 2028 in-service with $270–300M annual margin. Company reaffirmed 2026 guidance: $4.17–$4.32 adjusted EPS, ~$1.25B capex, 12–14% adjusted EPS CAGR 2026–2030.
Why this rating
Rate wins totaling $80M (1.5% of $5.4B market cap) and large capital project with $2.3B investment support growth but execution risk remains; ROE still below allowed cost of equity.
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